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African Startup Funding Tracker

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IFC Proposes Investment in Moroccan EmergingTech Ventures Fund II
IFC Proposes Investment in Moroccan EmergingTech Ventures Fund II

The International Finance Corporation (IFC) has disclosed a proposed equity investment of up to USD 4 M in EmergingTech Ventures Fund II (Emtech II), a Moroccan domiciled early-stage VC fund targeting a first closing at USD 40 M (MAD 400 million). The fund is managed by EmergingTech Ventures SA (Emtech).

The fund is seeking to raise USD 60 M (MAD600 million) with a hard-cap of USD 80 M (MAD800 million). Emtech II will focus on investments in companies with current and/or planned future operations in Morocco, Tunisia and Francophone West Africa. Emtech is a limited liability company incorporated under Moroccan law founded by Meriem Zairi, Abdelouahid Benlamlih and Sidi Mohammed Zakraoui.