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AMOUNTS RANGING UP TO 7M TND.
Innovatech will invest a minimum of 1M TND, with a maximum initial investment of 2.5M TND and a follow-on of up to 7M TND.
The fund’s target exposure will be between 15% and 40% of the SME’s capital.
Innovatech
Our fund dedicated to innovative SMEs
INNOVATECH, approved on July 23, 2021 (n°48-2021), received CMF approval on December 21, 2021. It is the first fund to adopt the FIS (Specialized Investment Fund) form.
With a target size of 125 MDT, the Fund will build a portfolio of 40 to 50 SMEs in the development phase (more than 2 years old). It will have a minimum investment of TND 1 million, and will be able to invest up to TND 7 million (for projects requesting a second round of financing).
The Fund will target education and healthcare technologies, finance, green technologies and renewable energies, agritech, manufacturing, ICT and electronics, big data, media and e-commerce, and any disruptive technology enabling digital transformation.
RENOWNED INSTITUTIONAL PARTNERS TO SUPPORT TUNISIA’S SMALL BUSINESSES
The project to support startups and innovative SMEs has received public funding via a World Bank loan worth $75 million, of which $17 million has been earmarked for the INNOVATECH Fund and $3 million for the innovative SME support pocket.
The CDC (Caisse des Dépôts et Consignations) is the Fund’s main backer and sponsor. Its role more generally includes coordinating all fiduciary aspects of the project in its capacity as Project Management Unit.
Selection criteria
HIGH-IMPACT SMES
Access to Innovatech financing will depend on 6 major criteria:
Age and size
Companies over 2 years old with fewer than 200 employees
Innovation strategy & technology
Demonstrate the need to invest in innovation and technology to grow the business and its impact
Financial health
Resilient companies in a growth phase
Environmental and social policy
Compliance with Tunisian regulations, best practices and environmental and social environmental and social standards (ES) set out in the World Bank’s ES Framework for Environmental and Social Sustainability
Potential technological impact
Digitalization, Innovation, Employment, Export, Competitiveness
Management quality
Quality of the management team in terms of strategic vision, management and execution capacity
Methods of intervention
RATIONAL & LONG-TERM APPROACH
The Innovatech Fund will intervene as follows:
A minority stake in the company’s capital, alongside other family, industrial or financial shareholders, for investment periods ranging from 5 to 7 years from the initial investment.
Systematic involvement with other co-investors (excluding follow-on), generally as a lead investor with a presence in the company’s governance (supervisory board, board of directors) or in other bodies involved in monitoring its investment.
Preferred equity investment after quasi-equity intervention, in the form of convertible bonds.
Team & governance bodies
END-TO-END EXPERTISE
The Innovatech Fund, managed by the Smart Capital teams, is built around a solid, experienced operational core, specialized external advice and two impartial governance bodies.
Management team
Alaya Bettaïeb
General Manager
TARAK TRIKI
Director, Innovatech
sarra el mokhtar
Senior Investment Officer
Investment Committee
An investment committee made up of 2 representatives from Smart Capital and 3 members from the private sector with experience in private equity and innovation.
Strategic Committee
This committee is made up of 3 members representing institutional investors (Smart Capital, CDC, Administration) and 4 members representing the private sector.
Advisory
Mr Philippe Rossinot
Have a question? A file to submit?
CONTACT THE INNOVATECH TEAM
To submit your application for investment by the INNOVATECH fund
To request information or contact the management team, please send an email to : innovatech@smartcapital.tn
You can also submit your application through Joussour invest : https://joussourinvest.tn/
