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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 productive executive for the media department at GetFundedAfrica

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