Algeria Venture And AIF Launch USD 10 Mn VC Fund

Algeria Venture, an Algeria-based accelerator, and the Algeria Investment Fund (AIF) have partnered to launch a VC fund targeting USD 10 Mn to support startups.  The AIF was established in 2021 as a collaboration between the National Bank of Algeria (BNA) and the External Bank of Algeria (BEA).

The Algeria Venture AIF fund is aimed at helping Algerian startups attain a level of maturity that will allow them to absorb foreign investments. The partnership aims to provide finance for Algerian startups at all stages from creation, Seed, and up to acceleration that could lead to an IPO.