How ANAVA fund of funds sparked a startup investment wave in Tunisia
- Startup Tunisia was initiated in 2015 to support young companies and foster a startup ecosystem in Tunisia.
- The Startup Act, launched in April 2019, has labeled about 1,200 companies as startups, indicating a significant increase in activity.
- Anava Fund of Funds has a target size of €100 million and has reached a first close of €60 million with contributions from the World Bank and KfW.
The establishment of the Anava Fund of Funds and the Startup Tunisia initiative represents a crucial step towards fostering innovation and entrepreneurship in Tunisia. However, ongoing challenges such as exchange rate restrictions must be addressed to sustain this momentum and ensure long-term success in the startup ecosystem.
