Badia Impact Squared Fund secures USD 5 Mn Investment

Tunisia-based Smart Capital, the manager of the Anava fund of funds, has invested USD 5.2 Mn in the Badia Impact Squared Fund (BIF2), a newly-launched fund targeting regional early-stage, high-growth startups. Anava has a goal size of €100 million and intends to participate in more than 13 private equity funds.

BIF2 completed its first closure in October 2020, bringing together the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Dutch Good Growth Fund (DGGF), and Finance in Motion, among other prestigious institutional LPs (FIM). Anava’s contribution is part of the second close of the Fund, in which 15% of its commitment will be given to Tunisia-based Startups.