Anava announces its 2nd subscription in a Silicon Badia underlying fund, BIF2
Within the framework of the Innovative Startups and SMEs project, supported by a World Bank funding, ANAVA fund of funds, announces its 2nd subscription in the underlying fund, Badia Impact Squared Fund (BIF2) managed by Silicon Badia up to 5.2 million dollars.
Anava’s first subscription in underlying funds was made in May 2022, in 216 Capital Fund, for 6 million Euros (about 18.5 million Dinars),
Silicon Badia is a pioneering venture capital fund management company that invests in early stage and growth stage technology companies operating globally.
Silicon Badia has invested in over 80 technology startups in more than 15 industries and cities around the world. Its second regional fund to benefit from Anava’s investment, BIF2, is a sector fund that invests in technology startups at the Series A and Series B stages in Egypt, Jordan, Tunisia, Morocco and Lebanon.
Anava’s subscription is part of the second closing of the fund (BIF2) where 15% of its commitment will be allocated to startups whose main operation is based in Tunisia. BIF2 has already made its first investment in the Tunisian fintech Expensya in November 2020.
About the ANAVA Fund of Funds:
The Anava fund of funds is the first fund of funds in Tunisia denominated in Euros, its target size is 200 million euros, with a first closing of 40 million euros (the equivalent of 130 million dinars) subscribed entirely by the Caisse des Dépôts et Consignations (CDC) through World Bank funding. It is managed by SMART Capital according to the best international standards. Fundraising with other subscribers is under discussion with institutional donors. Anava invests in underlying funds (child funds) that invest in Tunisian startups.
About Silicon Badia:
Silicon Badia is a venture capital fund manager that invests in technology start-ups around the world. With offices in the United States and the Middle East, Silicon Badia has partnered with over 80 technology start-ups in more than 15 different sectors and cities more than 15 cities around the world.