IFC eyes investment in emerging tech ventures, a Moroccan venture capital fund focused on tech startups

The International Finance Corporation (IFC), part of the esteemed World Bank Group, is currently evaluating a substantial financial commitment to a Moroccan venture capital fund that is dedicated to nurturing emerging technology enterprises in the regions of North and West Africa.

The IFC has disclosed its intention to potentially inject up to $4 million in equity into the EmergingTech Ventures Fund II (Emtech II). Emtech II is an early-stage venture capital fund domiciled in Morocco, under the management of EmergingTech Ventures SA (Emtech). The fund is in the process of raising capital, with an objective of securing $60 million and the possibility of extending to an $80 million hard cap if necessary.

Emtech, established as a limited liability company by Meriem Zairi, Abdelouahid Benlamlih, and Sidi Mohammed Zakraoui, is strategically positioned to invest in startups that are either currently operating or planning to establish operations in Morocco, Tunisia, and the Francophone countries of West Africa. This specific region includes several West African nations where French is predominantly used in business and educational contexts.

The IFC’s proposed investment is intended to support the initial closing of Emtech II, which has a milestone target of $40 million. This move underscores the IFC’s trust in Emtech’s expertise to scout and nurture high-potential tech startups within this geographic scope.

Through its support of Emtech II, the IFC is looking to catalyze the growth of a vibrant and innovative early-stage technology ecosystem in North and West Africa. The investment is poised to provide essential capital to startups with high potential, thereby stimulating innovation and contributing to job creation throughout the region.

Related

IFC commits $6 million to Ventures Platform Pan-African Fund II to boost early-stage tech startups in Africa

The International Finance Corporation (IFC) has made a significant commitment of up to $6 million in equity investment to the Ventures Platform Pan-African Fund II (VP II). This venture capital fund is dedicated to supporting early-stage technology-enabled startups across Africa, with the primary goal of enhancing access to seed-stage financing…

March 4, 2025

In "Africa"

Equator Africa secures $5 million from IFC for African climate tech initiatives

Equator Africa, a venture capital firm focusing on the African climate sector, has successfully secured an additional $5 million in funding from the International Financial Corporation (IFC). This infusion of capital is intended to bolster businesses and foster innovation within the African climate technology landscape. This latest funding round follows…

October 7, 2024

In "Africa"

IFC proposes $75 million commitment to Helios Investors V Fund

The International Finance Corporation (IFC) has announced a proposed commitment of up to $75 million to the Helios Investors V fund, which includes a co-investment envelope of $50 million. This significant financial backing underscores the IFC's commitment to fostering growth in Africa's dynamic investment landscape. Helios V is a pan-African…

March 11, 2025

In "Funding"