Smart Capital

Smart Capital

Develops Tunisia's startup ecosystem and funding

Overview

Smart Capital coordinates Tunisia’s national entrepreneurial program Startup Tunisia to unite three groups—startups, investors, and support organizations—into a single ecosystem. It runs three pillars: Startup Act (a legal framework for startups settling in Tunisia), Startup Invest (an investment framework anchored by the ANAVA Fund of Funds with a target of €200 million, plus a GP incubator and a Startup Guarantee Fund), and Startup Empower (funding and networking support for ESOs and startups, with international connections). Its approach is to orchestrate policies, funding, and ecosystem services to connect early-stage startups with capital and partners. The goal is to make Tunisia a hub for startups across the Mediterranean, MENA, and Africa by expanding access to resources and collaboration.

About Smart Capital

Simplify's Rating
Why Smart Capital is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Consulting

Venture Capital

Financial Services

Company Size

N/A

Company Stage

N/A

Total Funding

$1.6M

Headquarters

Tunisia

Founded

2019

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Simplify's Take

What believers are saying

  • ANAVA backed Janngo in March 2024, then LoftyInc and Silicon Badia by 2026.
  • Startup Act 2.0 adds stock options, longer labels, and faster foreign hiring.
  • Smart Capital's official 2026 pipeline shows continued state support and active fund commitments.

What critics are saying

  • Startup Tunisia still faces financing bottlenecks; April 2026 reforms targeted those failures.
  • ANAVA remains in late fundraising for its €100 million target, limiting deployment speed.
  • If Tunisia's legal and banking friction persists, founders and funds bypass Smart Capital entirely.

What makes Smart Capital unique

  • Smart Capital runs Tunisia's national Startup Tunisia program, backed by CMF approval.
  • ANAVA gives Tunisia its first euro-denominated fund-of-funds with foreign LPs.
  • Startup Act and Startup Invest create a rare state-backed startup operating system.

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Funding

Total Funding

$1.6M

Above

Industry Average

Funded Over

0 Rounds

Company News

Tunisian British Chamber of Commerce
Jul 28th, 2026
Tunisia takes London: inside the Tunisian delegation's mission at London Tech Week 2026.

Tunisia takes London: inside the Tunisian delegation's mission at London Tech Week 2026. 28 July 2026 London, United Kingdom - 07 to 11 June 2026. For the second consecutive year, Tunisia planted its flag at one of the world's largest technology gatherings. Under the banner of the "Tunisian Tech Ecosystem" National Pavilion, a delegation of more than 30 Tunisian entrepreneurs, investors, institutional leaders and diaspora representatives descended on London Tech Week - and left with a case full of contacts, credibility, and a clear sense that Tunisia's tech scene has a seat at the table. A Pavilion Built on Partnership The mission was jointly organised by CONECT (Confédération des Entreprises Citoyennes de Tunisie) and the Tunisian British Chamber of Commerce (TBCC), working hand in hand with the Embassy of Tunisia in London and the British Embassy in Tunis. Behind the scenes, the initiative was backed by the World Bank-financed "Startups and Innovative SMEs" project, implemented by the Caisse des Dépôts et Consignations (CDC) in partnership with Smart Capital, alongside FIPA Tunisia and ATUGE UK. That coalition translated into a physical presence that was hard to miss: Pavilion #121, hosting eight stands split between Tunisia's key institutional players - CDC, TBCC, CONECT and FIPA London - and homegrown startups carrying the flag for Tunisian innovation: Addvocate AI, Numeryx, Smart Farm Pro, Proxym Group and Meliorar (MEG) hree of them earned a coveted slot on the Ignition Stage, pitching directly to a room of international investors, accelerators and industry leaders. Day One: Diplomacy Opens the Doors The mission opened on a high note. On the first day of the Pavilion's activity, Tunisia's delegation welcomed Hattab Haddaoui, Chargé d'Affaires of the Embassy of Tunisia in the United Kingdom, and Imen Zaouali, the Embassy's economic attaché - a diplomatic presence that lent immediate weight to the Pavilion in the eyes of British partners. The stand also drew Anthony Catt, Founder and Director of Venture 54, and Hannah Williams, Director of Trade and Investment for Africa, for discussions centred on financing, mentorship and pathways for Tunisian startups into international markets. Tunisian cybersecurity startup Pwn & Patch took the floor at the UK-Africa Sandbox, sharing its own experience of breaking into the UK market - a live case study in what Tunisian tech can do abroad. Evenings were no less busy, with the delegation moving through the LTW Welcome Drinks Reception, the Africa Delegations Welcome Reception hosted by Venture 54, the London & Partners International Reception at the Guildhall, and the Official London Tech Week Party on the Southbank - a marathon of networking that set the tone for the week. Day Two: Africa, the UK, and the Diaspora Converge The second day belonged to connection-building. Pavilion #121 saw a steady stream of visitors curious about Tunisian solutions in fintech, AgriTech, AI and IT - conversations that ranged from investment opportunities to technology partnerships and international expansion plans. At the Africa Lounge, Tunisian startups joined the UK-Africa Sandbox programme run by Venture 54, opening doors to collaboration across the African innovation landscape. Later, the spotlight turned to Tunisia's diaspora: an event organised with ATUGE UK brought together Tunisian entrepreneurs, experts and professionals based in Britain to explore mentorship, partnerships and routes into the UK market - a reminder that the diaspora remains one of Tunisia's most under-leveraged strategic assets. Day Three: Recognition on the World Stage The mission's final full day delivered its most symbolic moment: a visit from Ben Ainslie, His Majesty's Acting Trade Commissioner for Africa, to the Tunisian Pavilion - a clear signal of recognition from British trade authorities for the momentum Tunisia's ecosystem has built. The delegation also hosted a session with the International Council of Women Entrepreneurs (CIFE) on leadership and emerging technologies, and - in the week's marquee moment for Tunisian founders - three Tunisian startups pitched live on the Ignition Stage in front of investors, accelerators and corporate leaders. The day closed with participation in the UK-Africa Ecosystem Day at 40 Leadenhall Street and an official reception hosted by the Embassy of Tunisia in London, bringing together startups, institutional partners, investors and members of the Tunisian community in the UK. The Results: More Than a Photo Op By the numbers and by feel, the mission delivered. Organisers report between 15 and 20 qualified B2B contacts per participant, alongside tangible gains in visibility, credibility and relationship-building: * Stronger international visibility for Tunisia's tech ecosystem * A multiplication of B2B meetings with investors, funds, accelerators and technology partners * Tunisian success stories showcased to an international audience * Deeper ties with the Tunisian diaspora in the UK * Reinforced relationships with British trade, investment and innovation actors * New avenues for collaboration in financing, soft-landing support and internationalisation * A confirmed positioning for Tunisia as an emerging tech hub bridging Europe, Africa and the Arab world What is Next The delegation's own after-action review reads less like a wish list than a strategic memo: presence without follow-through is a wasted opportunity. The first priority is continuity; returning to London Tech Week better organised, not treating each mission as a one-off, which means preparing start-ups earlier so their pitches land sharper on day one. It also means building what most delegations neglect: a disciplined follow-up process to turn a week of handshakes into signed partnerships, since qualified contacts have a short shelf life once nobody owns the next step. There is a narrative to keep pushing too; Tunisian success stories need louder, year-round amplification, not one week of visibility every June; alongside deeper ties with the UK diaspora, still an underused bridge into British markets. Most ambitiously, the review calls for a dedicated soft-landing programme, moving Tunisian start-ups from exhibition-hall enthusiasm to real market entry. Two editions in, Tunisia's presence at London Tech Week has moved from a first appearance to a returning fixture - one with a growing pavilion, a widening network, and, increasingly, a name that decision-makers in London recognise on sight. For more updates and photos from the mission, follow the Tunisian British Chamber of Commerce on LinkedIn.

Fintech Bits
Sep 28th, 2025
Fintech and AI Lead Startup Funding in the MENA Region

The Anava Fund in Tunisia has secured $4 million to invest in the Rasmal Innovation Fund I, which focuses on enhancing venture capital access for Tunisian startups.

Startup Researcher
Sep 17th, 2025
ANAVA invests $4M in Rasmal Fund

ANAVA, Tunisia's state-backed fund, has committed $4 million to the Rasmal Innovation Fund I, launched by Qatar-based Rasmal Ventures. This investment aims to boost Tunisia's startup ecosystem by attracting international VC capital. The fund, targeting $100 million, focuses on sectors like fintech and healthtech. ANAVA's involvement highlights Tunisia's potential and aims to enhance global visibility and growth opportunities for Tunisian startups.

PR Newswire
Jan 8th, 2025
Promise Exchange Program Debuts At Ces In Las Vegas Showcasing 7 Tunisian Startups

The U.S.-funded initiative connects Tunisian entrepreneurs with U.S. and global startup communitiesExplore Tunisia's burgeoning startup ecosystem, visit with Tunisia's Ambassador to the US, and connect with global innovators at CES January 7-10 Las Vegas, NV at the Venetian Expo Hall, Booth 50025LAS VEGAS, Jan. 7, 2025 /PRNewswire/ -- The Promise Project, a U.S.-funded initiative to strengthen Tunisia's entrepreneurial ecosystem, is bringing Tunisian innovation talent and startups to CES 2025 for the first time, aiming to connect Tunisian entrepreneurs with the U.S. and global startup communities.Organized by the Tunisian American Young Professionals (TAYP), the booth will feature cutting-edge innovations from Tunisian startups in sectors such as AgTech, Energy, Robotics, Smart Cities, and Food Tech. The exhibit will spotlight Tunisia's dynamic startup ecosystem with special guests and live demonstrations throughout the CES event.Additionally, the program will welcome Hanène Tajouri Bessassi, the Tunisian Ambassador to the U.S. and CES along with representatives from CONECT and the French delegation from CPME (more details below).The Promise Exchange Program is a U.S.-funded initiative in partnership with the U.S

Wamda
Mar 26th, 2024
ANAVA pledges $4.3 million investment in Africa's Janngo Capital Startup Fund

Tunisia's fund of funds "ANAVA", managed by Smart Capital, has made a $4.3 million investment in Janngo Capital Startup Fund (JCSF), a technology fund focused on Africa and promoting gender equality.

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