Smart Capital, the management company of Anava fund of funds, announces a $5.2M commitment to venture capital fund Badia Impact Squared Fund (BIF2) managed by Silicon Badia, a pioneer venture capital group investing in early and growth-stage technology companies operating globally.

Anava has a target size of €100M (with a first closing of 40 million euros fully subscribed by Caisse des Dépôts et Consignations (CDC)) and aims to invest in over 13 VC funds dedicated to startups at their seed, early and late stages of development. Anava is one of the three pillars of a national program, Startup Tunisia, namely Startup Act (the incentives), Startup Ecosystem (the supporting structures) and Startup Invest (the funding including Anava) whose management is entrusted to Smart Capital.

With offices in the US and the Middle East region, Silicon Badia has invested in over 80 technology startups in more than 15 different industries and cities worldwide. Their second regional Fund BIF2 is a sector-agnostic fund that invests in technology and tech-enabled startups in Series A and Series B stages in Egypt, Jordan, Tunisia, Morocco, and Lebanon.