New Era Fund I Reaches Milestone with Ekuity Capital's Entry
New Era Fund I, a dedicated investment fund for innovative Tunisian startups, has reached a major milestone with Ekuity Capital's entry. This new subscription brings the total amount to €7 million, out of a total target of €15 million. The fund aims to finance startups in the seed and Series A phases, particularly in three key sectors: artificial intelligence, biotechnology, and green technologies.
New Era Fund I is managed by UGFS-VC, the venture capital arm of UGFS North Africa. It was launched with initial support from Smart Capital, the manager of the national innovation program "Innov'i", and UGFS-NA. The fund's objective is to support a new generation of high-potential Tunisian entrepreneurs, focusing on strategic sectors with high economic, social, and environmental impact.
Ekuity Capital's entry into the fund sends a strong signal to the local ecosystem. Formerly known as the Tunisian-Kuwaiti Development Consortium, Ekuity Capital is a joint venture between the Kuwaiti sovereign fund KIA and the Tunisian government. With a portfolio of 15 companies and over 800 million dinars in assets, Ekuity focuses on long-term value creation through investments in structuring projects.
UGFS-VC, on the other hand, relies on over 15 years of expertise in impact investing. Its parent company, UGFS-NA, has structured 20 funds since its creation, mobilizing over 240 million dinars and supporting over 100 SMEs and startups.
With this new milestone, New Era Fund I reaffirms its mission: to emerge as the technological champions of tomorrow, serving an innovative, inclusive, and sustainable Tunisia.
