ANAVA, the fund of funds supported by the World Bank, CDC  and KFW, is excited to announce its commitment to invest €5 Million in its third Child fund, Titan Seed Fund I, managed by Medin Fund Management Company.

The Titan Seed Fund I aims for a target size of €10 million, to invest in approximately twenty Tunisian startups at the Seed stage and will be the first Deep Tech focused fund in North Africa. The fund plans to invest an average ticket of between €300,000 and €650,000 per startup, with the aim of preparing its startups to raise a Series A funding round.

About the ANAVA Fund of Funds:

ANAVA is Tunisia’s first euro-denominated fund of funds. It stands as a key pillar of the national initiative “Startup Tunisia,” with the ambition to position Tunisia as a hub of innovation and startups, within the Mediterranean, MENA, and Africa regions.

With an initial target size of €100 million, including an initial closing of €40 million subscribed by the Caisse des Dépôts et Consignations (CDC) through a loan from the World Bank, and €20 million subscribed by KFW, the fund of funds aims to provide Child funds with the opportunity to invest both in Tunisia and abroad. This solution is highly anticipated to address the financing and internationalization challenges faced by Tunisian startups.

The fund is managed by Smart Capital, a company authorized by the Financial Market Council (CMF), mandated by the Tunisian government to roll out its national Startup Tunisia program