Fidelium Finance launches equity funds for Tunisian SMEs

Apr 27, 2012

Fidelium Finance has launched two private equity funds for small to medium-sized enterprises (SMEs) in Tunisia.

Fidelium Finance has launched two private equity funds for small to medium-sized enterprises (SMEs) in Tunisia.

The first initiative is called Fidelium Performance and when it has completed its fundraising stage, it will become the only fund mainly dedicated to SME growth and development in the country, Zawya reports.

Worth TND 50 million (€24.5 million), it will use common shares, convertible bonds, equity shares, equity securities and non-voting investment certificates to target firms.

Alternatively, SMEs can take advantage of the TND 20 million Fidelium Essor II, which has been created to promote local development and growth in rural parts of Tunisia.

Despite SMEs making up 90 percent of the nation's domestic business, they currently only receive 13 percent of the loans issued by its financial institutions, an International Finance Corporation study recently revealed.

Senior Partner at Fidelium Finances Amel Ben Daly told Zawya that the funds will also provide managerial assistance and will favour companies that allow for funds to exit through the alternative market.ADNFCR-2976-ID-801351391-ADNFCR