Establishing an $80 million venture capital fund – Al-Hiwar Al-Jazairia

The general manager of the public accelerator for startups Algeria Venture has signed an agreement with Hebertus van der Vaart, director of investments at the level of the international investment fund SEAF (American fund for financing startups), to establish the new venture capital fund called Algeria Innovation Fund, with a value of $ 80 million as an institution Algerian investment in accordance with the legislation in force in Algeria.

This agreement comes in line with the objectives set by the “Algeria Fantour” institution to attract international venture capital for the benefit of Algerian startups, to open new growth horizons inside and outside Algeria, as the SEAF investment institution is considered one of the most important managers of venture capital in the world, and is present in more than 30 countries. country across the world. This considerable value will be harnessed for investment in Algerian startups, of which $20 million will be allocated for companies with international reach, and it will also be a real opportunity to enhance the role of startups in economic development.