The ANAVA fund of funds managed by Smart Capital has just announced its pledge to invest pound 4.5 million in a new underlying fund called GO LIVE FUND, managed by GO BIG Partners.This investment is part of the project to support start-ups, jointly funded by the World Bank, the Caisse des Dépôts et Consignations (CDC) and the German Development Bank (KfW).GO LIVE FUND is an pound 8 million fund with a first closing of pound 6 million. The fund aims to invest in 36 B2B start-ups in the early development phase with proposals that provide real solutions to real problems.The fund will target strategic and high-impact sectors, including agri-technology (AgriTech), clean technology (CleanTech), biotechnology (BioTech), health technology (HealthTech), and cybersecurity."Subscribing to the 6th childfund (underlying fund) GO LIVE FUND underlines our willingness to support innovation and Tunisian start-ups by providing them with the levers they need to grow and go international. We firmly believe that these inv estments will help position Tunisia as a major player in the global start-up ecosystem," said CDC Director General Néjia Gharbi.Acting Managing Director of Smart Capital, Tarek Triki added: "Our partnership with GO BIG Partners through the GO LIVE FUND consolidates our efforts to develop the start-up ecosystem in Tunisia. We are committed to supporting innovative start-ups that create disruptive, high-impact solutions.""This partnership underpins our shared vision of encouraging innovation and making a transformative impact in Tunisia. Our goal is not only to offer funding to the startups in our portfolio, but also to provide them with strategic advice, a vast industrial network and numerous opportunities for growth and expansion on a global scale," said GO LIVE FUND representative Aymen Mbarek.ANAVA is the first Euro-denominated fund of funds in Tunisia. It is one of the key pillars of the national "Startup Tunisia" programme, which aims to make Tunisia a hub for innovation and start-ups at the crossro ads of the Mediterranean, the MENA region and Africa.The fund is managed by Smart Capital, a company approved by the Conseil du Marché Financier (CMF) and mandated by the Tunisian government to roll out its national Startup Tunisia programme.Source: Agence Tunis Afrique Presse
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