Morocco’s Al Mada Launches Pan-African USD 109.5 Mn VC Fund

Morocco-based Al Mada Holding Group has launched a USD 109.8 Mn pan-African venture capital fund to invest in fast-growing startups. The new VC fund aims to develop promising technology-oriented startups in fintech, healthtech, logistics, edtech, and renewable energy. 

With an aim to operate as a vertical accelerator, the venture capital will target startups having reached a certain level of maturity, helping them access the growth-dependent capital. In addition to providing direct funding, the Al Mada venture fund will equally offer startup access to the fund’s large network of partners.