Anava Fund of Fund, a Tunisia-based investment body has raised $6.4 million in a subscription to 216 Capital Fund I to support startups with high potential for growth in Tunisia.
- The funds will be used to invest in pre-seed and seed rounds of startups with over $100,000 for each participating firm.
- Anava Fund targets to support Tunisian startups or startups with 50% personnel employed in Tunisia.
- It will invest in 13 investment funds dedicated to supporting 350 companies at various stages in the next five years.
- Smart Capital is the management company of the Anava Fund of Fund.