The “Maroc Numeric Fund II” (MNF II) has said that it will expand its investment to include startups started by Moroccans living outside Morocco.This is done because the Moroccan diaspora has made a significant contribution to the growth of the Moroccan startup ecosystem.
The Fund’s control bodies agreed to this change to MNF II’s investment strategy, allowing it to invest in companies with headquarters in Morocco and Moroccan startups with Moroccan bases.
The targeted startups must have at least one important founder with Moroccan citizenship and a Moroccan subsidiary that adds value according to standards that align with the investment company’s development strategy.
MNF II started in 2018 and has already invested in 6 businesses, including Fintech, EdTech, LegalTech, and AI sectors.
It replaces the MNF fund, which was started in 2010 and ended in 2016 after making 17 investments in different Moroccan tech businesses.
A Look at Numeric Fund II in Morocco
Maroc Numeric Fund II (MNF II) is an institutional fund that invests in high-growth technical enterprises. Tamwilcom (formerly Caisse Centrale de Garantie) developed the Innov Invest program, which is owned by Tamwilcom, Attijariwafa Bank, Chaabi Capital Investissement, BMCE Bank of Africa, and MITC, the Technoparks management company.
MNF II is the successor to the MNF fund, which started in 2010 and finished its investment phase in 2016, having invested 17 times in different types of Moroccan startups.
Maroc Numeric Fund II is a public company in Morocco, and its main office is in Technopark, Casablanca.