AfricInvest Launches USD 100 M Morocco-Focused Build Up Fund

AfricInvest, the Tunis-headquartered pan-African private equity firm, has entered the implementation phase of its Build Up Fund, a Morocco-dedicated vehicle targeting nearly nearly 1 billion dirhams (USD 100 M). It is the firm’s first Morocco-only fund since 2012, marking a strategic recommitment to the Kingdom as infrastructure and digital investment accelerate.

The fund targets Morocco’s “missing middle”: established mid-sized companies with revenues between 100 million and 250 million dirhams, writing tickets of at least 50 million dirhams across roughly ten businesses. Structured as a growth capital investment fund (FPCC), it is managed locally by Private Equity Initiatives, AfricInvest’s AMMC-authorised subsidiary, with Banque Centrale Populaire as custodian.

The timing aligns with Morocco’s infrastructure push ahead of AFCON and the 2030 World Cup, as well as its Digital 2030 agenda, creating strong tailwinds in sectors like fintech, logistics, and healthcare.