EmergingTech Ventures Gets Proparco Backing for New Fund

STARTUP VENTURE CAPITALJune 25, 2026 at 2:48 PM UTC

TLDR

EmergingTech Ventures Fund II, managed by EmTech Capital, secures cornerstone investment from Proparco for early-stage tech startups in Francophone Africa.
The fund targets $60 million, expandable to $80 million, focusing on pre-Series A and Series A startups in Morocco, Tunisia, Senegal, and Côte d’Ivoire in sectors like deeptech, fintech, e-health, and cleantech.
Proparco's investment through FISEA reaffirms EmTech's impact-driven approach, supporting ambitious startups across Francophone Africa.

EmergingTech Ventures Fund II secured a cornerstone investment from Proparco as the Morocco-based venture capital manager raises a new fund for early-stage technology startups in Francophone Africa.

The fund is managed by EmTech Capital, an independent Moroccan firm founded by Meriem Zairi, Abdelouahid Benlamlih and Sidi Mohammed Zakraoui. It is targeting $60 million, with the possibility of expanding to $80 million.

EmergingTech Ventures Fund II will invest mainly in pre-Series A and Series A startups in Morocco, Tunisia, Senegal and Côte d’Ivoire. Its target sectors include deeptech, fintech, digital services, e-health, ed-tech, agritech and cleantech.

Proparco made the investment through FISEA, an AFD Group fund it manages. The commitment builds on EmTech’s first fund, which raised $22 million and was mainly deployed in Morocco.

EmTech said the second fund will expand its reach across Francophone Africa and back startups with economic, social and environmental impact. Chief Executive Officer Meriem Zairi Tlemçani said Proparco’s support validates the firm’s investment thesis and strengthens its ability to support ambitious founders in the region.

Key Takeaways

Proparco’s backing of EmergingTech Ventures Fund II shows growing interest in local venture capital managers focused on Francophone Africa. Startup funding in Africa is still concentrated in a few markets, while countries such as Morocco, Tunisia, Senegal and Côte d’Ivoire have smaller but growing tech ecosystems. A dedicated early-stage fund can help fill the gap between local angel funding and larger regional or global investors. The focus on pre-Series A and Series A matters because many startups can build traction but struggle to raise the capital needed to scale teams, products and sales. Proparco’s role also adds credibility and may help EmTech attract more institutional investors. The fund’s sector focus reflects where digital growth is forming across the region: finance, health, education, agriculture, clean technology and business services. The challenge will be finding enough high-quality companies across several markets and helping them grow beyond national borders. If EmTech succeeds, the fund could strengthen Francophone Africa’s pipeline of venture-backed technology companies.

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