Proparco is backing EmTech’s EmergingTech Ventures Fund II, targeting $60m to fund pre-Series A and Series A startups across Francophone Africa.
Proparco has joined as a key backer of EmergingTech Ventures Fund II, a new early-stage venture capital fund focused on Francophone Africa. Proparco is a development finance institution, which means it is a government-backed investor that funds private sector growth.
The fund is managed by EmTech Capital, an independent Moroccan investment firm founded by Meriem Zairi, Abdelouahid Benlamlih, and Sidi Mohammed Zakraoui. EmTech is targeting a $60 million close, and says the vehicle could expand to $80 million.
EmergingTech Ventures Fund II plans to invest at pre-Series A and Series A. Pre-Series A usually means the round after seed funding. Series A is the first larger venture round that helps a startup scale its product and go-to-market.
The investment focus includes deep tech, fintech, digital services, healthtech, edtech, agritech, and clean energy. Deep tech refers to startups built on harder science and engineering, like advanced hardware or AI research, rather than simple software.
The new fund follows EmTech’s first fund of $22 million, which was deployed mostly in Morocco. With Fund II, EmTech says it will widen its footprint across North Africa and West Africa and back companies with social and environmental impact.
Seed and Series A funding is still a major gap across many African markets, especially outside the largest English-speaking hubs. Proparco said its backing is meant to help close that gap and bring more institutional capital into venture investing.
For founders in Morocco, Tunisia, Senegal, and Côte d’Ivoire, a larger local fund can mean faster access to early-stage checks and on-the-ground support. It may also signal growing confidence in Francophone Africa’s venture pipeline, as Morocco pushes public-sector digital programmes and more startups look to scale regionally.
Primary Source: Techinafrica
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