EmergingTech Ventures Fund II, an early-stage venture capital fund dedicated to high-potential technology startups operating in Morocco, Tunisia, Senegal, and Ivory Coast, has secured a cornerstone investment from French development finance institution Proparco.
Managed by EmTech Capital, an independent Moroccan fund management company founded by Meriem Zairi, Abdelouahid Benlamlih, and Sidi Mohammed Zakraoui, the EmergingTech Ventures Fund II targets a size of US$60 million, with the potential to expand to US$80 million. It primarily invests in pre-Series A and Series A startups operating in high-impact sectors such as deeptech, fintech, digital services, e-health, ed-tech, agri-tech, and cleantech.
The new commitment from Proparco – made through FISEA, an AFD Group fund it manages – aims to build on the momentum generated by EmTech’s first fund, which raised US$22 million and was primarily deployed in Morocco. Through this second vehicle, EmTech intends to expand its geographic reach, with further focus on Tunisia, Senegal, and Ivory Coast, and deepen its support for startups with strong economic, social, and environmental impact potential.
“This partnership with Proparco and FISEA represents a major milestone for EmTech and for the Moroccan and African technology ecosystem as a whole. The support of a leading development finance institution validates our investment thesis and strengthens our ability to back the most ambitious entrepreneurs in Francophone Africa. We are proud to build this new chapter alongside partners who share our conviction that Africa is home to a new generation of talented entrepreneurs capable of creating high-impact companies with global reach,” said Meriem Zairi Tlemçani, CEO of EmergingTech Ventures.
“We are delighted to support EmTech in launching its second fund, led by an experienced and committed local team. This partnership reflects our ambition to support the next generation of digital entrepreneurs in Francophone Africa, particularly in Morocco, a highly dynamic market, and to contribute to the development of a vibrant and inclusive technology ecosystem, in line with the many public initiatives launched by Morocco,” said Fabrice Perez, head of financial institutions and innovation division at Proparco.