Share WhatsApp Email 10 SharesTunisian private equity firm AfricInvest that has $1.5 billion in assets under its management, is partnering with San Francisco-based Cathay Innovation, a global VC fund created by French PE firm Cathay Capital, to launch Cathay AfricInvest Innovation Fund, the two organization announced in a joint statement earlier this week. Khaled, speaking to MENAbytes, also said that they’re expecting the first close in the range of $50-60 million by June this year. He added that the fund is sector-agnostic but they are specifically looking at opportunities in logistics & mobility, fintech, software, energy innovation, healthtech and edtech. Aziz Mebarek, co-founder AfricInvest, commenting on the occasion, said, “We are excited about the combination of experience, expertise and networks that will be delivered through this partnership between AfricInvest and Cathay, a world-class investor. This Fund will also provide Cathay Innovation’s portfolio companies with access to fast-growing African markets.

Source: The North Africa Journal April 13, 2019 13:30 UTC