Smart Capital
Tunis-based fund manager approved by the Conseil du Marché Financier and mandated by the Tunisian State to run Startup Tunisia, managing the ANAVA fund of funds and Innovatech.
Industry: Fund management (venture capital fund of funds) | Location: Tunis, Tunisia | Founded: 2020
About Smart Capital
Smart Capital is a Tunis-based fund management company approved by Tunisia's Conseil du Marché Financier. The Tunisian State has mandated it to implement Startup Tunisia, the national programme for startups. Its website gives its mission as accelerating innovation in startups and small and medium enterprises through investment.
Startup Tunisia has three pillars. The Startup Act is a legal framework for startups, Startup Invest is an investment framework built around a fund of funds with a target size of 100 million euros, and Startup Ecosystem supports startups and the organisations that assist them. The site's copyright notice dates from 2022 and its earliest news items are from March 2022.
Smart Capital's team page lists eight people, with Tarak Triki as Directeur Général and Zied Ben Othman as Directeur du Fonds de Fonds. Smart Capital quoted Alaya Bettaieb as Directeur Général in March 2024 and Tarek Triki as interim Directeur Général in June 2024.
The company manages three funds. ANAVA is a euro fund of funds for venture capital funds, Innovatech invests directly in Tunisian SMEs, and COINNOV is a third listed fund. ANAVA's first close was 40 million euros from the Caisse des Dépôts et Consignations, through a World Bank loan, plus 20 million euros that KfW subscribed on 1 December 2022. The Caisse's 2024 report says ANAVA had raised 60.1 million euros against its 100 million euro target and Innovatech 50 million dinars against 125 million.
ANAVA's first commitment was 6 million euros to 216 Capital Fund I in May 2022. It later committed to Silicon Badia BIF2, 5 million euros to Titan Seed Fund I in October 2023, 4 million euros to Janngo Capital Startup Fund in March 2024, 4.5 million euros to GO LIVE Fund in June 2024 and 4 million dollars to Rasmal Innovation Fund I in September 2025. In September 2022 Smart Capital signed a memorandum of understanding with Japan's Double Feather Partners.
With the Caisse, Smart Capital carries out the World Bank-financed Startups and Innovative SMEs project, which began a regional tour in Le Kef on 28 September 2026.
Leadership
- Tarak Triki, Directeur Général (Managing Director)
- Zied Ben Othman, Director of the Fund of Funds (Investment Director, ANAVA)