Morocco’s BMCE Capital Launches USD 4.5 Mn Fund

Morocco-based BMCE Capital Investment has launched a USD 4.5 Mn VC fund dedicated to financing Moroccan startups at the seed stage.  BMCE is also expected to connect its portfolio startups to an extensive network of Moroccan and global investors. Over the upcoming months, the fund is set to raise money from renowned Moroccan investors and key players in the economy to meet the targeted capital. Morocco’s Capital Market Authorities (AMMC) approved the creation of the new fund which will be partially financed by BMCE Group, one of Morocco’s leading financial institutions.