Proparco, through FISEA, an Agence Française de Développement Group fund managed by Proparco, has become a cornerstone investor in EmergingTech Ventures Fund II, an early-stage venture capital fund targeting technology startups in Morocco, Tunisia, Senegal and Côte d’Ivoire.

Managed by EmTech Capital, an independent Moroccan fund management company founded by Meriem Zairi Tlemçani, Abdelouahid Benlamlih and Sidi Mohammed Zakraoui, the fund is targeting US$60 million, with the potential to expand to US$80 million. It will focus on pre-Series A and Series A startups operating in sectors including DeepTech, FinTech, Digital Services, HealthTech, EdTech, AgriTech and CleanTech.

The commitment builds on the momentum of EmTech’s first fund, which raised US$22 million and was primarily deployed in Morocco. Through its second fund, EmTech plans to broaden its geographic reach and expand support for startups with strong economic, social and environmental impact potential across Francophone Africa.

“We are delighted to support EmTech in launching its second fund, led by an experienced and committed local team,” said Fabrice Perez, Head of Financial Institutions and Innovation Division at Proparco. “This partnership reflects our ambition to support the next generation of digital entrepreneurs in Francophone Africa, particularly in Morocco, a highly dynamic market, and to contribute to the development of a vibrant and inclusive technology ecosystem, in line with the many public initiatives launched by Morocco.”

“This partnership with Proparco and FISEA represents a major milestone for EmTech and for the Moroccan and African technology ecosystem as a whole,” said Meriem Zairi Tlemçani, Chief Executive Officer of EmergingTech Ventures. “The support of a leading development finance institution validates our investment thesis and strengthens our ability to back the most ambitious entrepreneurs in Francophone Africa.”

“We are proud to build this new chapter alongside partners who share our conviction that Africa is home to a new generation of talented entrepreneurs capable of creating high-impact companies with global reach,” she added.

According to Proparco, the investment is expected to improve access to seed and Series A financing for technology startups across the fund’s target markets while supporting the development of the regional venture capital ecosystem. The initiative also aims to demonstrate the commercial viability of venture capital investing in the region, attract institutional investors and encourage the creation of future funds.

The investment comes as Morocco’s technology ecosystem continues to gain momentum, supported by a range of public and private sector initiatives, including programmes backed by the Mohammed VI Investment Fund.