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Moroccan Numeric Fund II (MNF II) announces new investment fund for Moroccan diaspora

Moroccan Numeric Fund II (MNF II) announces new investment fund for Moroccan diaspora

January 8, 2023
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Moroccan Numeric Fund II (MNF II) announces new investment fund for Moroccan diaspora

Felicia Akindurodoye by Felicia Akindurodoye
January 8, 2023
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Moroccan Numeric Fund II (MNF II) announces new investment fund for Moroccan diaspora
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The “Maroc Numeric Fund II” (MNF II) has made an announcement that it will expand its investment approach to include businesses that were established outside of Morocco by Moroccans living in other countries. 

This is done as a gesture of gratitude toward the important contribution that members of the Moroccan diaspora have made to the growth of the startup ecosystem in Morocco.

As a result of this extension of MNF II’s investment strategy, which was approved by the Fund’s governing bodies, the Fund will be able to invest not only in Moroccan entrepreneurs that are based in Morocco but also in companies that have their headquarters in Morocco. Anything which is unknown.

The selective start-ups must have at least one significant founder who is Moroccan and has founded a Moroccan subsidiary that brings value in accordance with standards that are consistent with the investment company’s development strategy. In addition, the investment company requires that the start-ups have at least one significant founder who is Moroccan.

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What to know about MNF II

The Maroc Numeric Fund II, sometimes known as MNF II, is an institutional fund that makes investments in rapidly expanding technical companies.

The Maroc Numeric Fund II is a publicly traded corporation in Morocco, and its offices may be found in the Technopark in Casablanca.

MNF II was established in 2018 and has already made investments in a total of six companies, some of which are involved in the financial technology, educational technology, legal technology, and artificial intelligence industries.

It succeeds the MNF fund, which was founded in 2010 and dissolved in 2016, having made a total of 17 investments across a variety of technical firms in Morocco.

 

Details on the Previous MNF Fund

The Ministry of Industry, Trade, and New Technologies of Morocco were responsible for formulating the Maroc Numeric 2013 national plan, which resulted in the establishment of the Maroc Numeric Fund (MNF) in the year 2010. It was the very first Venture Capital fund in Morocco, with a total size of one hundred million dirhams, and was dedicated to Moroccan technology startups.

The Maroc Numeric Fund (MNF) aims to make investments in outstanding businesspeople who have a national as well as an international vision and ambition. These businesspeople should be able to turn their grand ideas into successful businesses that can lead their industry and create jobs.

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Impacts of the MNF 

Maroc Numeric Fund (MNF) encourages technical innovation. As a venture capital fund, it invests in high-risk/return firms and fosters an innovative startup culture.

Since startups create jobs and boost the economy  Maroc Numeric Fund (MNF) supports new ventures in potential markets to advance the industry.

Startups may finish their initial phase with funding. Equity requirements under MAD 10 million are severely underfunded in Morocco. Such sums are too huge for business angels and too tiny for private equity firms.

Maroc Numeric Fund (MNF)’s management team invests not just money but also time, skills, and network to help businesses. Maroc Numeric Fund is always on the startup’s board of directors to help create strategy and advice entrepreneurs.

Maroc Numeric Fund invests in early-stage entrepreneurs with a commercialised product and market confirmation from first sales.

To guarantee promoters’ managerial ability in the early phases of their initiatives, the company should have received financial help from previous programmes like Innov Idea or Innov Start or business angels. This phase costs 1–4 million MAD.

Maroc Numeric Fund invests in creative businesses with strong revenue growth that are less than five years old and needs money to grow in Morocco and other places. This phase costs 4–10 million MAD.

MNF mobilizes a broad network of information technology professionals and operational expertise in accounting, law, and regulation for startup management teams.  

Maroc Numeric Fund (MNF) also helps management teams build projects and get access to more rounds of investment.

Tags: FundMaroc Numeric Fund IIMNF II
Felicia Akindurodoye

Felicia Akindurodoye

Felicia Akindurodoye is an experienced writer and researcher, whose watchword is originality.

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