Al Mada, a leading Morocco-based private equity fund controlled by Morocco’s Royal Family, has launched a pan-African venture capital fund with a budget of €100 million ($109.9 million) in a bid to responsibly invest in the continent’s talents and future industries.
The $109.9-million VC fund was designed to attract innovative investors and increase value by leveraging the huge growth opportunities of top-performing African businesses working on the continent’s rapidly expanding startup scene.
In keeping with the core focus of operating as a vertical accelerator, the Al Mada-led venture capital fund will target startups that have reached a certain level of maturity and will assist them in gaining access to the capital required to drive their growth and scale operations as well as size.
In addition to direct funding, the fund will provide startups with access to its extensive network of partners, as it moves to responsibly invest in the continent’s talents and future businesses.
Under the direction of Morocco’s King Mohammed VI and other members of the Alaouite royal family, Al Mada has grown into one of the largest private investment funds in Africa.
The pan-African private equity firm maintains active investments in structurally important sectors of Africa’s economies and societies, where its investments have a positive impact. With a diverse investment portfolio, Al Mada is active as a reference shareholder or co-shareholder in seven major business sectors.
The pan-African private equity firm’s $109.9-million investment will aid in the development and emergence of promising technology-oriented startups specializing in future industries, such as financial services (fintech), health technology, logistics, education and renewable energy.
With investments in leading brands such as Morocco’s largest financial services group, Attijariwafa Bank, the move is expected to broaden Al Mada’s portfolio as an African-focused private equity firm.
