Morocco’s Al Mada Holding Group has established a US$110 million pan-African venture capital fund to invest in fast-growing startups throughout the continent.
Al Mada, an investment holding company controlled by the Moroccan royal family, is one of Africa’s largest private investment funds, and its new fund aims to attract innovative investors and participate in Africa’s rapidly growing startup ecosystem.’
AI Mada Statement About The New Investment Fund
“Al Mada is pleased to bring its century of experience as a pan-African inverter to young inventive entrepreneurs who are reimagining Africa for the future,” the firm claimed in a statement. “Startups will be able to rely on our substantial experience as well as the expertise of our venture capital-focused teams.”
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The fund will invest in technology-related or technology-enabled businesses in financial services, healthcare, logistics, education, and renewable energy, among other sectors.
It will function as a vertical accelerator, assisting companies that have reached a certain stage of development in securing capital.
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The Al Mada venture fund will also provide access to the company’s wide network of partners to portfolio companies.
