Proparco, a French development finance organization, has made a major investment in EmergingTech Ventures Fund II, an early-stage venture capital fund devoted to high-potential technology businesses operating in Morocco, Tunisia, Senegal, and Ivory Coast.
The EmergingTech Ventures Fund II is managed by EmTech Capital, an independent Moroccan fund management firm created by Meriem Zairi, Abdelouahid Benlamlih, and Sidi Mohammed Zakraoui. Its goal size is US$60 million, with the potential to grow to US$80 million.
In high-impact industries like deeptech, finance, digital services, e-health, ed-tech, agri-tech, and cleantech, it mostly funds pre-Series A and Series A firms.
Proparco’s new commitment, made through FISEA, an AFD Group fund it oversees, is intended to build on the momentum created by EmTech’s first fund, which gathered US$22 million and was mostly used in Morocco.
EmTech plans to increase its support for startups with significant potential for economic, social, and environmental impact while broadening its geographic reach through this second vehicle, with a particular emphasis on Tunisia, Senegal, and Ivory Coast.
“This partnership with Proparco and FISEA represents a major milestone for EmTech and for the Moroccan and African technology ecosystem as a whole. The support of a leading development finance institution validates our investment thesis and strengthens our ability to back the most ambitious entrepreneurs in Francophone Africa. We are proud to build this new chapter alongside partners who share our conviction that Africa is home to a new generation of talented entrepreneurs capable of creating high-impact companies with global reach,” said Meriem Zairi Tlemçani, CEO of EmergingTech Ventures.
“We are delighted to support EmTech in launching its second fund, led by an experienced and committed local team. This partnership reflects our ambition to support the next generation of digital entrepreneurs in Francophone Africa, particularly in Morocco, a highly dynamic market, and to contribute to the development of a vibrant and inclusive technology ecosystem, in line with the many public initiatives launched by Morocco,” said Fabrice Perez, head of the financial institutions and innovation division at Proparco.
