Strong Start to the Year for the Investment Industry with the Launch of 216 Capital Fund II
The investment industry is off to a strong start this year with the launch of subscriptions to the specialized investment fund, 216 Capital Fund II. The vehicle consists of two compartments:
- The first, composed entirely of dinar-denominated assets, with a target amount of 16 MTND,
- The second, composed entirely of euro-denominated assets, with a target amount equivalent to the counter-value of 15 MTND.
Each of the two funds is an independent entity, with its own governance bodies, separate accounting, and distinct financial statements. The promoters are 216 Capital Ventures and UBCI. The depositary is UBCI, while distribution and management are handled by 216 Capital Ventures.
The first version of the funds was a success. For the dinar compartment, the total assets reached 5,121 MTND, with investments of 2,902 MTND. We find investments in Avidea, Wattnow, and Drest, valued at 4,434 MTND, with a capital gain of 1,532 MTND. Investments were made in 2024, as the unallocated funds amount to 6,525 MTND, in addition to available funds of 0,684 MTND as of December 31, 2023. The fund ended 2023 with a net profit of 1,176 MTND.
For the euro compartment, the assets as of 2023 stood at 5,920 M€, with investments valued at 3,560 M€. We find investments in ProxalysInc, Easy Transfer, Gofield, Flexifai SA, Cynoia, Actum Group Limited, and Imaginario AI Inc. The valuation of these investments resulted in a capital gain of 1,737 M€ as of 2023. Other investments were made in 2024, financed by available treasury and the remaining subscribed capital not yet called or released (as of December 31, 2023), amounting to 2,016 M€. The exercise was crowned with a profit of 1,522 M€.
The quality of the investments made in the first version of the fund is a guarantee of the success of the second. The money is available, and startups only need to demonstrate the reliability of their economic models and development strategies.
