📋 Tender Overview
Project Number: 48867
Company Name: EmergingTech Ventures SA
Date SPI Disclosed: Jun 6, 2024
Country: Northern Africa Region
Region: North Africa and Horn of Africa
Projected Board Date: Jul 5, 2024
Environmental Category: FI-2
Status: Pending Approval
Department: Disruptive Technologies and Funds
Industry: Funds
Sector: Venture Capital Fund
Project Description
IFC is considering an equity investment of up to US$4 million in EmergingTech Ventures Fund II ( Emtech II of the Fund ), a Moroccan domiciled early-stage VC fund targeting a first closing at US$40 million (MAD 400 million). The Fund is managed by EmergingTech Ventures SA ( Emtech or the Fund Manager ).
Total Project Cost and amount and nature of IFC's Investment: The Fund is seeking to raise US$60 million (MAD600 million) with a hard-cap of US$80 million (MAD800 million). IFC has proposed an equity investment of up to US$4 million in the Fund.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
