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 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.