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# Tunisian Anava Fund of Funds invests $5.2 million in Silicon Badia
- URL: https://www.techloy.com/tunisian-anava-fund-of-funds-invests-5-2-million-in-silicon-badia/
- Published: 2022-07-12T15:13:54.000Z
- Updated: 2022-12-08T01:24:04.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Money, tunisia

[Smart Capital,](https://startup.gov.tn/en/smart-capital) the manager of Anava Fund of Funds based in Tunisia, has invested $5.2 million in Badia Impact Squared Fund (BIF2) to support early-stage tech startups.

- [Silicon Badia](https://www.siliconbadia.com/) manages BIF2 which focuses on investing in Series A and B stages of tech startups in Egypt, Jordan, Tunisia, Morocco, and Lebanon.
- It is operational in the US and the Middle East and has invested in more than 80 technology startups in 15 industries and cities globally.
- Anava has raised €40 million of its targeted €100 million and plans to invest in 13 private equity funds.
- Anava is a financing initiative under the Startup Invest programme managed alongside Startup Tunisia (a national programme in Tunisia), Startup Act (focusing on incentives), and Startup Ecosystem (supporting support structures) by Smart Capital.