Tunisia-based 216 Capital Ventures secures $6.4M to Invest in Startups

Tunisia-based 216 Capital Ventures secures $6.4M to Invest in Startups

Tunisia-based Venture Capital firm, 216 Capital Ventures has secured $6.4 million through subscription from Smart Capital, the management company of the ANAVA Fund -whose Fund of Funds has a target size of about $200M, and aims to invest in more than 13+ startups at each stage of development (Seed Stage, Early Stage, and Late Stage) – to invest in Tunisian startups.

This investment marks the first underlying fund of ANAVA and the first specialized investment fund (SIF) managed by 216 Capital Ventures.

216 Capital Fund 1, is a generalist fund that will be invested mainly in pre-seed and seed stage startups with average ticket sizes of over $100,000. The fund will be invested in around 50 Tunisian startups as well as foreign startups with move half of their staff strength being Tunisians.

Dhekra Khelifi, Partner at 216 Capital Ventures expressed delight in the investment, “We are very thrilled to be the first of 13 underlying funds that will undoubtedly enrich the investment ecosystem in Tunisia. We are also conscious of the purpose we have set for ourselves: to assist innovative firms in the early stages of their development and to be more than just a financing vehicle, but a partner in their success. We are confident, and we have already begun our entry investment phase with two commitments in two businesses to send a strong and comforting signal to Tunisian founders and, more importantly, to reposition Tunisia on the radar of international players.”

216 Capital Ventures was launched in Tunis, the Tunisian capital in 2021 by a team of entrepreneurs, investors, and company builders as a firm that focuses on early-stage technology companies. Its investment cut across sectors in determined and creative founders building transformational businesses.

Alaya Bettaeb, Managing Director of Smart Capital said “This initial investment marks the introduction of the ANAVA fund of funds into its investment phase, following just over a year of its debut, The fund of funds intends to invest in at least 13 investment funds dedicated to financing at least 350 companies at various stages of development during the next five years (seed, growth and international expansion).”

Smart Capital is a Corporate Finance firm focused on Venture and Private Equity to support SMEs. The company excels at raising investment for businesses looking to take the next step. It caters to companies in need of venture capital investment, expansion capital, or secure project finance.