SEAF Morocco Growth Fund (SMGF) welcomes ASMA Invest as a new investor. ASMA Invest joins fund shareholders La Caisse Centrale de Garantie, La Caisse Marocaine des Retraites, Bank of Africa (BMCE Bank), USAID (Wise Venture Capital), and the SEAF group.
SEAF Morocco Growth Fund is an investment fund regulated by the Moroccan Capital Market Authority (AMMC) with the designation of a "Société de Placement Collectif en Capital" (asset manager). SMGF invests in innovative startups and SMEs with high growth potential, targeting the Moroccan and international market, at the seed and early stage of their development. The Fund was created as part of the "InnovInvest Fund (IFI)" program managed by the Caisse Centrale de Garantie to promote innovative entrepreneurship.
Founded in 1989, ASMA Invest is a leading institutional investor in Morocco. With capital of MAD 2 billion, it has to its credit some forty diversified investment operations of more than MAD 5 billion, ranging from real estate and agriculture - directly managed - to equity investments in several companies.
Launched in September 2018, the SMGF seeks to fill the gap in financing for startups and innovation in Morocco and serve as a catalyst for the country's entrepreneurial ecosystem. The investment and technical assistance provided by the Fund aims to improve the rate at which entrepreneurs successfully create businesses and to accelerate the expansion of innovative companies.
Two years after its launch, the fund has made 5 investments in startups at the forefront of their markets: 3Dental, a healthtech company specialized in digital dentistry; eDukaty, an Edtech company specialized in virtual classes; MeilleurCreditImmo.ma, the country's first free and 100% online real estate credit broker; Mazma, a Fintech startup and Sowit, an Agritech specialized in precision agriculture in Africa.