Following the expansion of its investment strategy to include start-ups formed by Moroccans around the world, Maroc Numeric Fund (MNF) arranged a visit to Paris on Thursday and Friday to meet startupers from the Moroccan diaspora in France.
The fund held two meetings this time. The first was exclusive to Station F residents on Thursday; Station F is the world’s largest startup campus. The second was held this past Friday at the Maison du Maroc Foundation and was accessible to all Moroccan startup entrepreneurs based in France and internationally. Indeed, according to Omar El Hyani, head of investments at the Fund, the current policy now permits investments in businesses based abroad.
He continued, noting that these meetings provided an opportunity to explain to these young businesspeople how to operate and the selection processes for candidate files for investment as well as allow for a detailed return to the expansion of the investment strategy of Maroc Numeric Fund II (MNF II).
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The team met a lot of Moroccan entrepreneurs over the course of these two days, and El Hyani stated that the next step will be to examine the investment application files that were submitted to determine whether they satisfy all the requirements for selection.
Aassem Diane, the leader of a start-up in the medical industry, emphasised the significance of these gatherings, stressing that this kind of initiative makes it possible to find solutions to the many challenges that young entrepreneurs face, particularly the issue of funding at the beginning of the project.
According to him, these initiatives will probably inspire businesspeople from the Moroccan diaspora to build subsidiaries in Morocco and expand internationally.
Maroc Numeric Fund 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.
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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.
Recognizing the importance of the Moroccan diaspora in the development of Morocco’s startup ecosystem, MNF II recently announced the expansion of its investment strategy to include firms formed outside Morocco by Moroccans living abroad (MRE).
This expansion of MNF II’s investment strategy, approved by the Fund’s control bodies, permits it to invest in Moroccan entrepreneurs headquartered in Morocco, in addition to Moroccan startups based in Morocco. the unknown.
MNF II, which was founded in 2018, has made investments in businesses in industries such as Fintech, EdTech, LegalTech, and Artificial Intelligence.
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