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    HomeEcosystem NewsNORTHERN AFRICAAs Macron Exits Morocco, New $100M Fund Targets Moroccan Startups, Backed by Proparco

    As Macron Exits Morocco, New $100M Fund Targets Moroccan Startups, Backed by Proparco

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    French President Emmanuel Macron’s recent visit to Morocco concluded with a landmark economic accord, marking a $3 billion initiative aimed at strengthening the investment landscape in Morocco. The Moroccan Sovereign Wealth Fund, known as the Mohammed VI Investment Fund (FM6i), alongside several major French public financial institutions, formalized the creation of the “Morocco-France Investment Accelerator.” This agreement, celebrated during a formal ceremony in Rabat, underscores Morocco and France’s commitment to bolstering economic collaboration through strategic investments across key sectors, including infrastructure, private equity, and the burgeoning startup ecosystem.

    The Morocco-France Investment Accelerator is the first bilateral agreement between the FM6i and France’s leading public investment bodies, including the French Development Agency (AFD), its private sector subsidiary Proparco, STOA, and Bpifrance. Signed in the presence of Morocco’s King Mohammed VI and President Macron, the accord marks a pivot towards sustainable and forward-looking investments, designed to benefit both countries. The accelerator aims to reinforce longstanding economic ties and adapt them to emerging opportunities, addressing infrastructure gaps and providing capital for private enterprises, especially for small and medium-sized enterprises (SMEs) and startups.

    The agreement emphasizes a partnership of equals, pledging a 50/50 joint venture between FM6i and STOA focused on sustainable infrastructure projects. With a $300 million seed fund, this joint venture targets investments in essential sectors across Morocco, seeking to stimulate regional economic activity, expand access to modern infrastructure, and deliver long-term economic value.

    Supporting Morocco’s Startups and SMEs

    France, Morocco’s largest foreign investor, and Morocco, France’s top African investor, have historically cultivated a robust investment relationship. The new accelerator introduces a distinct focus on smaller enterprises, with an ambition to support over 1,500 Moroccan SMEs. The initiative will open doors for Moroccan SMEs and startups by providing specialized funding, mentorship, and equity investment options, in partnership with Bpifrance and FM6i.

    A segment of the accelerator’s capital will be allocated specifically to venture funds targeting Moroccan startups, aiming to foster a vibrant startup ecosystem. This commitment involves funds for thematic investment vehicles and co-investment structures, mobilizing up to 1 billion Moroccan dirhams (approximately $100 million) from Proparco for projects within critical growth sectors. By doing so, the fund aims to enable Moroccan startups to scale domestically and position themselves within global markets.

    Recognizing the growth potential within Morocco’s private equity sector, the accelerator will deliver training and knowledge-sharing programs to empower local fund managers, fostered through Bpifrance and other French entities. This capacity-building initiative aims to strengthen Morocco’s private equity ecosystem, aligning with the Mohammed VI Fund’s mission to catalyze private investment and drive long-term economic growth.

    Furthermore, the accelerator includes a financing program developed by FM6i and Expertise France, tailored to support SMEs in capital expansion and funding accessibility. Through dedicated workshops and financial literacy programs, SMEs will gain insights into capital opportunities, enhancing their readiness to attract and effectively use investment resources.

    Beyond direct investments, the accelerator aspires to deepen cross-border collaborations. By leveraging FM6i’s local expertise and France’s financial backing, the initiative aims to attract broader foreign investments to Morocco. Through this framework, France seeks to engage Moroccan and broader African markets, especially in strategic areas such as sustainable infrastructure, digital transformation, and clean energy, resonating with regional and global investment priorities.

    The Morocco-France Investment Accelerator’s ambitions extend into the political sphere, aligning with recent diplomatic acknowledgments from France on issues like the Western Sahara. This new accord emerges as a testament to Morocco and France’s evolving relations, setting the stage for expanded investment opportunities and fostering sustainable economic growth for both nations.

    As the accelerator launches, all eyes are now on its ability to deliver tangible results, with plans in place to ensure equitable growth across Morocco and strengthen bilateral ties through business-friendly policies and substantial, mutually beneficial investments.

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