Al Mada is launching a Venture Capital fund dedicated to innovation, with a size of 100 million euros or 1.1 billion dirhams. The stated objective is to support the growth of startups in Morocco and more generally on the African continent. The fund will be open to leading Moroccan institutional investors. The fund, announced as the largest of its kind with African capital, will be ”Evergreen” and will contribute to the development of emerging and promising startups specialized in technologies and innovations in the sectors of the future of the continent, namely financial services, health, logistics, education and renewable energies, among others. However, this financing represents less than 1% of global investments in Venture Capital. It should be noted that over the past 5 years, the financing of African startups has grown exponentially.
