The call for expressions of interest, launched on April 15, 2024 by the Mohammed VI Investment Fund (FM6I) to select management companies called upon to create and manage funds dedicated to startups, has generated strong mobilization of national and international management companies.
In line with the strategy of the Ministry of Digital Transition and Administrative Reform, this operation is part of the agreement signed between the ministry, the FM6I and the Caisse de Dépôt et de Gestion (CDG) aimed at launching innovative financing mechanisms for startup funds, according to a joint press release.
“A total of 47 applications were submitted, including 12 from local bidders, 33 from international bidders and 2 from mixed consortia. The proposals received cover a wide spectrum of financing stages (eg, Pre-Seed, Seed, Pre-Serie A, Serie A, etc.), and sectors (eg, Fintech, Agritech, Edtech, Healthtech, Climatetech, etc.)”, specifies the same source.
The diversity and importance of the number of proposals received confirm the potential of the venture capital industry in Morocco as a source of financing for startups and demonstrate the support of management companies for the innovative approach proposed by the Mohammed VI Investment Fund, the Ministry of Digital Transition and Administrative Reform and the CDG, the press release said.
This dynamic also reflects Morocco’s attractiveness as a platform for stimulating innovation for the benefit of the national economy and international influence.
Thanks to this initiative, management companies will be able to increase the volumes of financing available to startups, with a view to supporting the development of a Moroccan ecosystem of startups with an international vocation, the press release concludes.
