Today, the Tunisian American Enterprise Fund, announces its investment in the FCPR TunInvest Croissance Fund, a fund created and managed by AfricInvestand dedicated to invest in and finance Tunisian small and medium enterprises throughout the country.
TAEF, currently funded by the United States Agency for International Development at US$ 40 million, joins prominent Tunisian and international organizations in backing this effort.
AfricInvest is a leading private equity firm investing and developing SMEs in Africa with more than US$ 750 million under management.
This investment is TAEF’s first since it began operations in July, 2013. Bo Cutter, Chair of TAEF says “We are pleased to partner with the very strong and experienced AfricInvest team in their TunInvest Croissance Fund.
This first TAEF investment is consistent with our strategy of supporting Tunisian SMEs, early stage companies and entrepreneurs. We look forward to many years of fruitful collaboration and partnership.”
TAEF’s investment in FCPR Tuninvest Croissance Fund will expand the fund to TND 25.8 million and support direct investments in additional Tunisian companies. Karim Trad, Founding partner of Africinvest says :
“We are pleased to partner with TAEF that will provide additional means to FCPR TunInvest Croissance to finance, support and assist innovative Tunisian SMEs in their local and international development.”