Anava Fund of Funds
Overview
The ANAVA Fund of Funds, established to enhance the investment framework in Tunisia, seeks to channel global venture capital into the local ecosystem by supporting innovative startups across various growth stages, from seed to late-stage development. Officially launched in 2021 and managed by Smart Capital, ANAVA aims to raise €100 million. With support from the World Bank, KfW Development Bank, and Tunisia’s Caisse des Dépôts et Consignations (CDC), it targets multiple sectors including technology, healthcare, and fintech.
Recent Developments
- September 2025: ANAVA invested USD 4 million into the Qatar-based Rasmal Innovation Fund. This strategic move enhances connections within the MENA region, seeking to channel international capital into Tunisia’s startup scene.
- June 2025: The fund announced a €3.5 million investment commitment to the New Era Fund I, which focuses on sectors such as AI, biotechnology, and green technologies.
- April 2025: ANAVA injected €3.5 million into Tunisia's New Era Tech Fund, reinforcing support for startups at the Series A stage.
- February 2025: The fund allocated capital to 10 VC funds, focusing on sectors ranging from business services to healthcare technology.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | Tunis, Tunisia |
| Founders | Smart Capital |
| Key Investors | World Bank, KfW, CDC |
| Industry | Venture Capital |
| Target Fund Size | €100 million |
| Supported Sectors | Technology, FinTech, Healthcare |
| Number of VC Funds | 13+ |
Early History
The inception of the ANAVA Fund of Funds marks a pivotal development in Tunisia’s financial and entrepreneurial landscape. Launched in partnership with major financial backers such as the World Bank and KfW in 2021, the fund was designed to address funding gaps by channeling public and international financial resources into the local startup ecosystem. Initial funding commitments reached €60 million, distributed via collaborations with more than 10 venture capital funds, ensuring an inclusive approach with a specific focus on Tunisia’s burgeoning sectors such as technology and innovative digital startups.
Company Profile and Achievements
ANAVA’s structured approach leverages a "fund of funds" model to amplify its influence across the Tunisian startup landscape. This initiative distinguishes itself by its commitment to:
- Diversified Investments: Engaging with funds that target various growth stages and industry sectors, thus maximizing potential returns and strategic growth.
- International Cooperation: Establishing partnerships with global funds like Janngo Capital, fostering cross-border investments and increasing Tunisia’s visibility within the MENA region.
- Promoting Innovation: By engaging funds committed to tech-driven innovation, such as the New Era Fund I that focuses on AI and biotech, ANAVA underscores its commitment to technological advancement and sustainability.
Current Operations and Market Position
The ANAVA Fund of Funds is a cornerstone of Tunisia’s strategic initiatives to strengthen its startup ecosystem. By fostering a fund of funds mechanism, it enables broad-based investment opportunities for domestic startups, thereby enhancing Tunisia’s regional competitive appeal. The fund’s initiatives facilitate an integrated approach that promotes economic diversification and innovation, positioning Tunisia as an emerging tech hub within Africa and the MENA region. Strategic milestones include streamlined collaborations with key players like Rasmal Ventures and Janngo Capital, harnessing international expertise and expediting growth across multiple industries.
Conclusion
ANAVA Fund of Funds represents a visionary step in Tunisia’s economic evolution. By capitalizing on its strategic fund of funds framework, ANAVA channels international venture capital into the local innovative landscape, thus facilitating broad policy objectives of economic growth and technological empowerment. As Tunisia continues to navigate the evolving global economic terrain, ANAVA’s strategic investments and partnerships are likely to bear significant impacts on the startup ecosystem, ultimately fostering sustainable development and creating new economic opportunities across the region.