IFC Invests $1m into Flat6Labs’s Anava Seed Fund to Bolster Tunisia’s Startup Ecosystem
by techmoran 2019-10-04
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source: Techmoran

IFC, a member of the World Bank Group, is investing $1 million into Anava Seed Fund (ASF), an accelerator and early stage fund managed by Flat6Labs Tunisia, to boost tech entrepreneurship and women entrepreneurs in the country.

The fund will also boost Tunisia’s nascent venture capital ecosystem.

Half of this amount is provided by the Women Entrepreneurs Finance Initiative (We-Fi), which supports women entrepreneurs in developing countries by building their capacity, scaling up access to financial products and services, and providing links with domestic and global markets.

Flat6Labs Tunisia, a partnership between Flat6Labs—the region’s largest acceleration program and early stage investment platform—BIAT, TAEF (Tunisian American Enterprise Fund), Meninx Holding and Le15, is increasing its seed fund size to $10 million to support up to 100 technology companies, and to help address the lack of early stage capital in Tunisia.