Start-up accelerator Flat6Labs Tunisia, on Monday, announced the second close and increase of its Tunisia-based Anava Seed Fund (ASF) from $3 million to $10 million.
Over the past four years, the Anava Seed Fund has invested in over 50 start-ups in Tunisia across 22 different sectors between seed, follow-on and pre-Series A tickets
The Anava Seed Fund was launched in 2017 in partnership with the Tunisian American Enterprise Fund, BIAT Bank and Meninx Holding, to invest in 75 Tunisian early stage start-ups in a five-year period.
“This second fundraising is a major step for the Fund, which confirms its strong presence in Tunisia by supporting successful entrepreneurs throughout the country, managing partner of Flat6Labs Walid Triki said.
“Tunisia benefits from a dense fabric of skilled and high quality start-ups, operating in promising sectors.”
“Thanks to the trust of our partners, we have built the largest portfolio of innovative start-ups in the country and we will continue to partner with growing founders, providing them with effective and intensive support locally and beyond,” Triki added.
During the last 4 years, the Anava Seed Fund successfully invested in over 50 start-ups in Tunisia between seed, follow-on and Pre series A tickets, operating in 22 different sectors that vary between Fintech, Education, Agri-tech, Delivery Services, Retail -Tech, Health tech, and Aeronautics.
These start-ups have succeeded in creating more than 500 paying jobs, 61% of which are occupied by female talents.
In 2019, Flat6Labs welcomed a new investor, the International Finance Corporation (IFC), member of the World Bank Group with an investment of 3 million dinars.
In order to support technology entrepreneurship and women entrepreneurs in particular, half of this amount is provided by the Women Entrepreneurs Finance Initiative (We-Fi), which supports women entrepreneurs in developing countries.
Flat6Labs has also welcomed Sawari Ventures, with an investment amount of $1.6 million.
Launched and based in Cairo since 2011, Flat6Labs is considered the leading seed venture capital firm in the MENA region.
Each year, Flat6Labs invests in more than 100 innovative and technology-focused start-ups. The accelerator manages several seed funds with total assets under management exceeding $85 million.
It offers a wide range of investment tickets from $50,000 to $500,000, supporting start-ups in their early stages, from pre-seed to pre-Series A, when entrepreneurs need to fund their larger scale-up.
Source: Tap News Agency