Mohammed VI Investment Fund Announces Preselection of 17 Management Firms
The Mohammed VI Investment Fund (FM6I) has recently unveiled its preselection of 17 private equity firms tasked with managing specialized sectoral and thematic funds. This initiative forms a pivotal component of a comprehensive strategy designed to expedite investment and foster job creation throughout Morocco.
The anticipated funds, boasting a collective target size of at least 20 billion Moroccan dirhams ($2 billion), are slated to concentrate on vital areas such as industry, tourism, agriculture, and transportation. FM6I is poised to contribute up to one-third of the capital for each fund, with the remaining portion to be raised by the selected management firms from both local and international investors.
From a pool of 46 applicants, 17 firms have been carefully selected, demonstrating FM6I's commitment to nurturing domestic private equity capabilities. The chosen firms include nine Moroccan entities, underscoring a deliberate effort to bolster local involvement, while the remaining slots are filled by international firms possessing specialized expertise in key sectors. Together, these entities aim to address existing gaps in access to growth capital, particularly for small and medium enterprises.
In addition to this, FM6I has disclosed plans to inaugurate dedicated startup funds in early 2024. These funds are specifically designed to offer financial products tailored to the needs of emerging companies, facilitating their access to capital without prematurely diluting ownership.
This surge in new fund activities aligns seamlessly with King Mohammed VI's 2020 directive, which urged FM6I to implement sector-specific interventions for achieving more inclusive, innovation-led growth. If executed successfully, this strategic approach has the potential to position Morocco as a rising star among African economies in the current decade.