UGFS North Africa Celebrates First Closing of 'New Era' Fund
Funding | Apr 19, 2025 | Zawya
Canada Business Holdings Inc. (CBH) is celebrating the successful first closing of the New Era Fund by UGFS North Africa. This investment vehicle aims to boost innovation-driven growth in Tunisia and the broader North Africa region, focusing on key sectors such as Artificial Intelligence (AI), BioTech, and GreenTech. The fund targets Tunisian startups in the Product-Market-Fit and Mid-Growth phases, offering both financial support and value-added global assistance. An impactful step has been taken with the World Bank's commitment of USD 5 million through the Anava Fund of Funds. The New Era Fund is designed for strong financial returns with projected results including a 23% yield and a 20% gross IRR. CBH and UGFS North Africa, alongside global partners, are actively working to bridge the gap between capital and innovation in emerging markets. The event in Tunis highlighted the collaboration between fund partners, industry leaders, and international institutions, emphasizing a shared focus on fostering sustainable economic growth through technology and entrepreneurship.
Sectors
- Private Equity
- Venture Capital
- Technology
- Sustainable Development
Geography
- Tunisia – The 'New Era' fund focuses on supporting Tunisian startups and is a central geography in this investment initiative.
- North Africa – UGFS North Africa has a regional footprint across North Africa, influencing investment strategies and economic growth.
- Canada – Canada Business Holdings is headquartered in Ottawa, contributing as a key partner in this cross-border investment initiative.
Industry
- Private Equity – Involves UGFS North Africa's role as a private equity and asset management firm aiding in significant regional investment initiatives.
- Venture Capital – The article discusses the 'New Era' fund, a venture capital initiative targeting startup growth in sectors like AI, BioTech, and GreenTech in North Africa.
- Technology – Focus on Artificial Intelligence, BioTech, and GreenTech signifies the technology-driven focus of the 'New Era' fund.
- Sustainable Development – Discusses the aim of the 'New Era' fund in promoting sustainable and inclusive economic growth through targeted investments.
Financials
- USD 5 million – Investment commitment by the World Bank through the Anava Fund of Funds into the New Era Fund.
- 23% yield, 20% gross IRR, net IRR multiples of 2.3x – Projected financial returns from the New Era Fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Canada Business Holdings Inc. (CBH) | Supporting Investment Firm | Company | A global investment and project development company focused on transformative public-private partnerships and venture financing. |
| UGFS North Africa | Target Company, Managing Entity | Company | A leading private equity and asset management firm based in Tunisia, with a regional presence in North Africa. |
| World Bank | Investor | Government | A global financial institution committing USD 5 million through the Anava Fund of Funds into the 'New Era' Fund. |