Design and set up of a seed fund in Tunisia. Taking into account the innovative character of this project, the EIB, through the Investment and partnership euro-Mediterranean facility (FEMIP), has asked META Group to develop, structure and launch the first Tunisian seed fund. Main activities included:
- Contributing to the analysis of the legal environment for Venture Capital in Tunisia;
- Defining the legislation and regulation improvement to allow for effective implementation of Venture Capital in the Country;
- Contributing to the selection of the team of the seed fund;
- To propose to the EIB the legal structure to adopt for the incorporation of the seed fund and for its management;
- To assist the team of the seed fund in writing the constitution documents, principally the investment policy, the business plan, the partners agreement and the statutes of the seed fund;
- To put at disposal of the fund the know-how of the expert concerning the investments in own funds;
- To implement the procedures and tools of analysis and follow-up of the projects;
- To realise with the team of the seed fund the prospecting and the identification of projects corresponding to the investment strategy of the fund;
- To make with the team of the seed fund the totality of the diligences previous to the investment decision;
- To present the first projects to the investment committee with a reserve of compatibility with the mission, to proceed to the formalisation of at least a first participation share;
- To establish the budget and to control the management fees of the seed fund.
- Type of services provided by META:
- Analysis of Tunisian Venture Capital Legal Framework;
- Analysis of the offer: public bodies, SICAR (Companies of Investment in Risk Capital), international organisations;
- Analysis of best practice.
Which is the added value of Seed Fund in Tunisia?
Luigi Amati, Responsible for Seed Fund in Tunisia at META Group: “The identification of best practices on legal framework at European level, together with the knowledge based experience on how to analyse the demand regarding the innovative start-ups coming from the Universities, Research centres, incubators, small and medium enterprises, engineering enterprises”.
What is the distinctive element of META Group?
Luigi Amati, Responsible for Seed Fund in Tunisia at META Group: “META Group, thanks to its experience of working side by side with international institutions, was able not only to design the fund but to work together with the Tunisian Ministry of Finance, to the new legislation on VC in Tunisia, defining the draft law adjustment and VC regulation to allow for an effective implementation of Venture Capital in the Country.”.