$110 M pan-African startup investment fund launched by Morocco’s Al Mada

Morocco’s Al Mada Holding Group has formed a pan-African venture capital fund worth MAD1.1 billion (US $110 million) to invest in fast-growing firms throughout the continent.

Al Mada, a Moroccan royal family-controlled investment holding firm, is one of Africa’s largest private investment funds, and its new fund intends to attract innovative investors and participate in the continent’s rapidly rising startup scene.

Financial services, health, logistics, education, and renewable energy are among the fields where the fund will invest in digital or tech-enabled enterprises. It will function as a vertical accelerator, focusing on entrepreneurs that have achieved a specific stage of development and assisting them in obtaining finance. The Al Mada venture fund will also provide access to the company’s extensive network of partners to its portfolio companies.

“Al Mada is delighted to bring its 100-year experience as a pan-African inverter to young innovative entrepreneurs who are building the Africa of tomorrow,” said the firm in a statement. “Startups will thus be able to rely on our solid expertise and that of our teams specialising in venture capital.”