The “Maroc Numeric Fund II” (MNF II) has announced the expansion of its investment strategy to include startups founded outside of Morocco by Moroccans residing abroad. This is done in recognition of the significant role the Moroccan diaspora has played in the development of the Moroccan startup ecosystem.
This expansion of MNF II’s investment strategy, agreed by the Fund’s control bodies, will let it to invest in firms with headquarters in Morocco in addition to Moroccan startups with Moroccan bases. the unfamiliar.
The targeted start-ups must have at least one significant founder with Moroccan nationality and have established a Moroccan subsidiary that adds value in accordance with standards consistent with the investment company’s development strategy.
Read also Morocco’s Witamax 1 Gets Set For A New Round Of Startup Investments
MNF II was founded in 2018 and has already invested in 6 businesses, including those in the Fintech, EdTech, LegalTech, and AI sectors.
It succeeds the MNF fund, which was established in 2010 and came to an end in 2016, having invested a total of 17 times in various Moroccan technological businesses.
A Look At Morocco Numeric Fund II
Maroc Numeric Fund II (MNF II) is an institutional fund that invests in high-growth technological firms. Tamwilcom (previously Caisse Centrale de Garantie) founded the Innov Invest programme, and its owners include Tamwilcom, Attijariwafa Bank, Chaabi Capital Investissement, BMCE Bank of Africa, and MITC, the Technoparks management business.
MNF II follows the MNF fund, which was established in 2010 and reached the end of its investment phase in 2016, having made a total of 17 investments in Moroccan technological start-ups in various disciplines.
Maroc Numeric Fund II is a Moroccan public limited company with its headquarters in Technopark Casablanca.
Maroc Numeric Fund Diaspora Maroc Numeric Fund Diaspora
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard