The FM6I launches a call to select the managers of the “Startup Funds”

The Mohammed VI Fund for Investment (FM6I) announced, Monday, the launch of a call for expressions of interest for the selection of management companies called upon to create and manage funds dedicated to startups (the “Startup Funds”) ) and this, in accordance with the provisions of Law No. 76-20 establishing the Fund.

This call for expressions of interest, prepared in consultation with the Ministry of Digital Transition and Administrative Reform and the Caisse de Dépôt et de Gestion (CDG), will offer innovative solutions to management companies with a view to accelerate their fundraising on a national and international scale, indicates the FM6I in a press release, specifying that the deadline for submission of application files by bidders in response to the specifications is set for July 1, 2024 at 11:59 p.m.

The combination of these efforts aims to increase the volumes of financing available to startups, with a view to supporting the development of a Moroccan ecosystem of startups with an international vocation, reports the same source. The “Startups Funds” are intended to offer financing solutions adapted to the different stages of development of Moroccan startups and to enable the emergence of future Moroccan leaders in innovation and new technologies. This initiative will help position Morocco as a platform for stimulating innovation for the benefit of the national economy and international influence.

These funds must aim to invest, through a contribution of equity or quasi-equity, in innovative companies with high growth potential (startups), the notion of innovation being assessed in the broad sense, in particular by the nature technologies developed and/or by the business model chosen.

The management companies of these funds will be selected based in particular on the quality of their teams, the robustness of the performances achieved in the management of similar funds and their ability to mobilize funds from local or foreign investors. They must also commit to adopting the best standards of responsible investment, particularly in terms of ESG within the startups invested.

The terms of withdrawal of the specifications, governing the selection process of the management companies of the “Startup Funds”, are specified on the Mohammed VI Fund for Investment website “www.fm6i.ma”.

LNT with Map