Capital North Africa Venture (CNAV)

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BIO has invested EUR 3 million in Capital North Africa Venture Fund, managed by Capital Invest, a Moroccan private equity fund manager. The fund is dedicated to investments in middle-sized companies (turnover from €10 to 50 million). The Fund aims to take significant minority shares associated with board representation in companies with a potential to compete locally and abroad, in order to support their development strategy. The fund also facilitates the transmission of businesses from one generation to the next through targeted participation in leveraged buy-out operations.

The focus country of the Fund is Morocco.

Development impact:

  • Local economic growth: investments in medium-sized enterprises with a turnover ranging from €10 to €50 millions and a capitalization level between €5 and €30 millions.
  • Private sector consolidation/innovation: Capital Invest usually requests to take a seat in the board of the portfolio companies. The presence and the demands of the fund manager oblige the companies to increase their transparance, improve their financial monitoring systems and review the financial impact of their strategy. In many instance, Capital Invest also requires to have a right to select the financial manager.
  • Investment amount (€):

    € 3 M

    Registered offices: Morocco Beneficiary countries: Morocco

  • Contract signature :

    2006

  • Nature of intervention :

    Equity

  • Development impacts :

    • 1 — Local economic growth
    • 2 — Private sector consolidation/innovation