HomeEconomy1.159 billion dirhams of fundraising in 2022

1.159 billion dirhams of fundraising in 2022

Fundraising by management companies reached 1.159 billion dirhams (MMDH) for the 2022 financial year, according to the latest activity report from the Moroccan Association of Capital Investors (AMIC).

These fundraisings were carried out by 6 funds in 2022 and 23 funds between 2017 and 2022, the report said, noting that transregional funds have captured 77% of fundraising for Morocco since 2012.

The share of international development organizations has been rising steadily since the first generation of funds (2000-2005), notes AMIC.

After a sharp drop in the share of Moroccan investors between the first and third generation of funds (from 73% between 2000 and 2005 to 34% between 2012 and 2016), the report highlights “a marked increase” in Moroccan investors, recorded in recent years (46% between 2017 and 2022). Investments, made by 11 management companies, amount to 914 million dirhams (MDH) in 2022, with 27 new companies invested, and 18 reinvestments.

By geographical distribution of invested companies, the Casablanca-Settat region is the most dynamic in terms of investments with 218 investment acts for a total of 8.211 billion dirhams in total at the end of 2022, followed by the regions of Rabat-Salé-Kénitra, Fez-Meknes and Tangier Tetouan-Al Hoceima, with respectively 9%, 7% and 5% of investments made. Between 2017 and 2022, the Casablanca-Settat region represents 78% in value, while in number of investments, the share of this region is declining, and fell from 73% between 2000 and 2005 to 67% between 2017 and 2022. For new investments in the business start-up phase, seed and venture capital represent nearly 70% of total investments made in 2022. At the end of 2022, seed and venture capital investments represent 35% of investments achieved in number and 8% in value, their shares increased from 26% between 2006-2011 to 55% between 2017-2022.

By industry, the services sector has been on a steady rise since the first generation of funds, rising from 18% to 36% in 2017-2022, the report says, adding that the health and education sectors have experienced strong growth in recent years. The report also mentions 14 acts of divestment carried out by 5 management companies for a total amount of 1.399 billion dirhams in 2022. At the end of 2022, exits carried out in the secondary market represented 33% of all divestments, specifies the AMIC, noting that these exits are not only made with Moroccan funds but also with foreign funds which show a growing interest in investing in this market in Morocco.

Founded in 2000, AMIC aims to federate, represent and promote the private equity profession to institutional investors, entrepreneurs and public authorities.



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