A newcomer to the ecosystem, the recently-launched Tunisian Maxula Seed Fund has signalled its intent after by making its first two investments. Focusing on early-stage startups that possess a high potential for growth in Tunisia, the investments were made in NewGen, a gaming startup, and MooMe, an agritech decision-making startup for farmers.

Launched by asset management company Maxula Gestion, the seed fund raises capital from insurance company MAE and the Arab Tunisian Bank (ATB). The fund was created in order to create a synergy with the investments of its mother company and provide greater opportunities to startups within Tunisia. 

“Our objective is to offer both financing to startups to develop their activity and new ideas to the companies which constitute our portfolio of participations in order to try to allow them to create new markets,” said CEO of Maxula Seed Fund, Raouf Aouadi (pictured).