Equity
Supporting Growth Through Equity Strengthening
The Tunisian Investment Fund (FTI) intervenes through equity participation to reinforce the financial structure of high-potential projects.
- The objective is not to substitute private investors but to share risk, structure capital and facilitate access to additional financing
1. subscriptions either directly or indirectly to:
- Venture capital funds ;
- Private equity funds ;
- Seed stage funds .
2. Equity participation in companies
Eligibility criteria
- Projects in priority sectors or activities eligible for regional development incentives ;
- Newly established companies and expansion investments whose total investment does not exceed 15 million dinars ;
- Projects led by Tunisian natural or legal persons .
(eligible once per entity under the applicable legal framework).
Projets ≤ 2 millions TND
- FTI participation: up to 60% of equity.
Key conditions :
- Personal contribution ≥ 10%.
- FCPR or SICAR participation ≥ 10%.
Projets > 2 millions TND
- FTI participation: up to 30% of equity.
Key conditions :
- Personal contribution ≥ 20%.
- FCPR or SICAR participation ≥ 20%
Overall Cap :
FTI’s equity participation may not exceed 2 million TND.
General Retrocession Conditions
❯ Retrocession at nominal value:
- 1% per year for projects ≤ TND 2 million.
- 3% per year for projects > TND 2 million.
❯ Maximum duration: 12 years.
❯ Management of Equity Participations
The management of the Fund’s equity participations is entrusted to:
- one or more private equity investment companies (SICARs).
- or management companies of venture capital funds .
in accordance with agreements concluded with the Tunisian Investment Fund.
List of SICARs and management companies accredited by the FTI:
- • SODINO
- • SAGES Capital
- • FRDCM
- • SODECAB
- • SODEK
- • SODIK
- • SODIT
- • SIDCO
- • SODIS
- • SODESIB
