The fund “Maroc Numeric Fund II” (MNF II) announced on Monday the extension of its investment strategy to include startups founded outside Morocco by Moroccans residing abroad (MRE).
“Aware of the important contribution of the Moroccan diaspora in the development of the startup ecosystem in Morocco, MNF II announces the extension of its investment strategy to include startups founded outside Morocco by MREs”the Fund said in a statement.
In addition to investing in Moroccan startups based in Morocco, this extension of MNF II’s investment strategy, approved by the Fund’s governance bodies, will allow it to invest in startups headquartered in Morocco. the stranger.
Targeted start-ups must include at least one founder of Moroccan nationality among its key people, and the establishment of a subsidiary in Morocco that creates value according to criteria in line with the development strategy of the invested company.
Created in 2018, MNF II has made 6 investments to date in startups operating, among others, in Fintech, EdTech, LegalTech and artificial intelligence.
It succeeds the MNF fund launched in 2010 and which reached the end of its investment period in 2016, and which had made a total of 17 investments in Moroccan technology startups in different fields.