Capital North Africa Venture Fund
CANVF II invests primarily in Morocco, and opportunistically in Algeria and Tunisia. It targets medium-sized enterprises with sales in excess of EUR 10.0 million, strong market position, sound financial situation, reputable management and growth potential. CANVF II investment size ranges in EUR 1.4 - 3.2 million. CANVF II targets sectors that are already competitive internationally such as pharmaceuticals, chemicals, construction and consumer goods; sectors that benefit from liberalisation of the Moroccan economy such as distribution, transport and logistics; services; and sectors with promising potential but still structural deficiencies such as agribusiness.
CANVF II is managed by Capital Invest SA, which was founded in 2000 as an initiative of BMCE Capital and Siparex to create the first private equity fund manager in Morocco. BMCE Capital is the investment banking arm of BCME Bank, the second largest Morocco-based bank. Siparex is a large French fund manager.