BMCE Capital launches US$4.5-million fund (Morocco)

BMCE Capital, a Morocco based investment company, has raised US$4.5-million in a new venture capital (VC) fund that will invest in Moroccan startups at the seed stage. The fund is expected to raise additional funding from Moroccan investors interested in participating in the local VC market. The anchor investor is BMCE Group, which is one of Morocco’s large financial services institutions with a market capitalisation of US$3-billion. The fund has been approved by Morocco’s Capital Market Authorities.

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