CDC Tunisia to oversee newly launched investment fund for SMEs in the country

TUNISIA – Tunisia has launched an investment fund “InnovaTECH” intended to guide financing for innovative or technological Tunisian SMEs with growth.

It’s a 125 million dinar (US$43 million) investment fund aimed at funding innovative Tunisian SMEs or high-growth technologies.

The Tunisian government has given the Caisse des Depots et des Consignations (CDC), the Fund’s sponsor (ANCHOR INVESTOR), responsibility for the project’s implementation, while Smart Capital is the Fund’s manager.

Green and renewable energy, agritech, manufacturing, ICT and electronics, big data and analytics, media and electronic commerce, and all other breakthroughs that will enable a digital transformation will be prioritized by the Fund.

The fund also intends to mobilize private savings, which is made feasible by co-investment, in order to promote these key sectors. Private-sector actors will be able to refine the financing schemes of the projects that will be presented to them through co-investment.

According to a press release, the fund’s distinctiveness and value will be its ability to identify innovative SMEs with great growth potential. Furthermore, firms will be given access to technologies that will help them accelerate their development. Also, to arrange investment to assist them in expanding.

Given that the Tunisian economic fabric is mainly made up of SMEs aspiring to evolve in the field of innovation and technology, he was deemed opportune to initiate the technological acceleration of the Tunisian economy thanks to innovation and modernization opportunities that Tunisian SMEs couldto bring.  It is in this context that the launch of the new program dedicated to SMEs is taking place.

It should be remembered that the Support Project for Startups and Innovative SMEs has benefited from a World Bank financing amounting to US$75 million, including US$17 million dedicated to the Fund0.08%

125 Million Dinars to support innovative and technological SMEs The Fund will target education, health, financial, technology green and renewable energy, agritech, manufacturing, ICT and electronics, big data and analytics, media and e-commerce and all technologies that would enable digital transformation.

The particularity of this fund and its contribution will consist in its ability to identify Innovative SMEs driving growth, to equip them with technologies allowing them accelerate their development and prepare an investment to promote their growth.

The purpose and expected objective of launching this fund is to intervene directly on the innovative and technological aspect of Tunisian SMEs to improve their competitiveness both nationally and internationally.

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