Second Subscription Period for FCPR Zitouna Moucharaka V Begins
The second subscription period for FCPR Zitouna Moucharaka V, a risk-sharing fund benefiting from a simplified procedure, commenced yesterday, March 17, 2025. The targeted amount stands at 36,000 Mtnd, divided into 3,600 shares with a nominal value of 10,000 Tnd each.
Promoters and Roles
The promoters of the fund are Zitouna Capital, a management company, and Banque Zitouna, which serves as the depositary. Zitouna Capital plays a dual role as the fund's manager and distributor.
Fund Characteristics
The fund's lifespan is 10 years, renewable twice for successive one-year periods. The investment period is 5 years from the date of liberation. The fund injects capital into companies for a duration of 5 to 7 years and may hold onto these participations during this period.
Investment Strategy
The FCPR is required to allocate at least 80% of its assets to companies established in Tunisia, excluding those listed on the Tunis Stock Exchange, with the exception of those operating in the real estate sector related to housing. This allocation must be made within two years following the liberation of the subscribed amounts. Newly issued shares on the alternative market of the Tunis Stock Exchange are also taken into account for the calculation of this employment rate, up to a limit of 30% of the said rate. All investments must consist of Sharia-compliant financial instruments.
Zitouna Capital's Track Record
Zitouna Capital already manages 8 FCPRs with a total amount of 307.7 Mtnd, of which 146.570 Mtnd have already been invested. If you have project ideas that could be financed by such a fund, you know who to turn to.
