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  • 1994

    Ahmed Abdelkefi, Aziz Mebarek, Karim Trad and Ziad Oueslati founded Tuninvest in 1994. The Firm initially managed evergreen investment vehicles focused primarily on Tunisia. The first private equity fund was closed in 1994 and focused on Tunisia (Tuninvest Sicar).

  • 2000

    • Starting from 2000, the firm broadened its focus to include the North African region, raising Maghreb Private Equity Fund I, the first private equity fund focused on Northern Africa.
    • The firm co-founded the African Venture Capital Association (AVCA) in partnership with FMO

  • 2004

    • In 2004, AfricInvest leveraged this successful investment experience to expand into Sub-Saharan Africa and raised €34 million for Africinvest Fund I.

  • 2007

    Closed dedicated fund focused on the financial services sector (AfricInvest Financial Sector Fund)

  • 2008-2009

    As the Firm continued to grow, AfricInvest opened local offices and recruited in-house, fully dedicated team members based in Nigeria, Kenya and Cote d’Ivoire, and closed Africinvest Fund II in 2008 with €143 million in capital commitments.

  • 2010

    Closed second Sub-Saharan African private equity fund (AfricInvest Fund II) with a size of €142 million.

  • 2011

    Held first close on third private equity fund focused on Northern Africa (Maghreb Private Equity Fund III) with a capital of €120 million.

  • 2012

    Raised PMEC, a single country fund targeting Morocco with a capital of MAD 435 million.

  • 2013

    Held final close of the 3rd generation of PE funds focused on Northern Africa (Maghreb Private Equity Fund III) with a capital of EUR 120mln

    Raised Tuninvest Croissance, a fund dedicated to Tunisia with a capital of TND 25.8mln

  • 2014

    First closing of AfricInvest Fund III with total commitments of EUR 154 million

  • 2016

    Opening of a new office in Paris


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