UGFS-VC Launches New Era Fund I to Fuel Tunisia’s Tech Startups in AI, Biotech, and Green Tech
- UGFS-VC announces the first close of its early-stage investment fund, New Era Fund I, securing €7 million.
- The fund aims to raise a total of €15 million to support Series A technology startups.
- ANAVA Fund of Funds commits €3.5 million to New Era Fund I, backed by the World Bank and KfW Development Bank.
The establishment of the New Era Fund I is a promising development for Tunisia's venture capital ecosystem, indicating a robust commitment to fostering innovation and supporting startups in critical sectors. However, the success of this initiative will depend on the effective deployment of capital and the ability to attract further investments to bridge the funding gap in the region.
