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Azur Partners Launches A $35m Innovation Fund To Invest In Morroccan Startups

Azur Innovation Management, a subsidiary of Azur Partners has launched a $35 million Innovation Fund to invest in Moroccan startups. The public-private fund targets Moroccan companies with less than 18 months of activity, “having a proven innovative product / service concept with successful marketing”

The facts

  • The Azur Innovation Fund initially endowed with $20 million with contributions from Central Guarantee Fund (CCG), its first investor, AfDB, CIH Bank, Bank Of Africa and MASEN, was raised to $35 million as a result of the Development Fund of the Dutch Government (DFDG), the German development bank KFW and Saham Assurances joining during the first closing of the fund on March 11th, 2020.
  • With a lifespan of 10 years, and an investment period of 5 years (extendable by one year), the fund targets innovative Moroccan startups.
  • The Fund will focus on the renewable energy sectors, Morocco’s global businesses, service platforms and new technologies.
  • The average investment tickets will be around $500k (excluding follow-on).

Other articles: DGGF Investing in the entrepreneurial ecosystem of Morocco

Moroccan Startups Targeted By The Fund

The fund targets the following categories of startups according to their various stages of development:

  • Companies with less than 18 months of activity, having a proven innovative product / service concept with successful marketing (Seed Capital Component);
  • Companies with more than 18 months and less than 3 years of activity, having an innovative product / service in production and available on the market, with recurrent sales (Early Stage Capital Component);
  •  Companies with more than 3 years and less than 5 years of activity, having an innovative product / service in strong growth with positive Ebitda, even if it still realizes losses (Venture Capital Component).

Related articles: AfriLabs announces Morocco as host for next Annual Gathering

A Look At Azure Partners

Azur Partners is an independent Moroccan investment fund management company focused on venture capital. It structures and manages funds in agriculture, agrifood and innovation.

Source: https://afrikanheroes.com/2020/05/08/azur-partners-launches-a-35m-innovation-fund-to-invest-in-morroccan-startups/?utm_source=rss&utm_medium=rss&utm_campaign=azur-partners-launches-a-35m-innovation-fund-to-invest-in-morroccan-startups

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

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