Fundraising
From pre-deal preparation to closing, a structured process that maximises valuation and protects the founder's position. A well-prepared fundraising is negotiated from strength; a poorly prepared one ends in a discount and imposed terms. Over TND 100 million mobilised for our clients (2023-2025).
Financial review, accounts reliability work, business plan validation, identification of valuation levers and issues to fix before going to market.
A defensible information memorandum, confidential teaser, structured virtual data room, anticipation of sensitive questions.
Mapping and confidential approach of SICARs, FCPRs, regional and international funds, family offices and strategic investors; running a competitive process.
Term-sheet work: pre-money valuation, instruments (equity, convertible bonds), governance and protective clauses, aiming for a balanced, lasting agreement.
Managing investor due diligence, defending the valuation, coordinating with lawyers on final documentation (shareholders' agreement, articles), signing and closing.
Tunisian SICARs, FCPRs and private equity funds, Maghreb and Africa regional funds, European and Gulf funds, family offices and strategic investors. Each target is approached with the investment thesis best suited to your project.
Six to twelve months on average, from launch to closing. Serious pre-deal preparation shortens the outreach phase and improves the final valuation.
Typically a retainer covering preparation, a fee at term-sheet signature and a success fee proportional to the amount raised at closing.
We support transactions of varied sizes, from SICAR tickets to rounds involving regional funds. An initial discussion qualifies the project.
1. Readiness. Reliable accounts, a formalised business plan and clean corporate documentation. Our free Deal Readiness Score gives a first measure of maturity.
2. Documentation. Information memorandum, financial model and valuation range, anchored on market references from the MGI BFC Index.
3. Targeting. A qualified approach to the right investors: SICARs, FCPRs, regional and international funds, family offices, matched to ticket size, sector and stage.
4. Negotiation. Term-sheet analysis, valuation defence, and management of the investor due diligence on the company.
5. Closing. Coordination with lawyers through to signing and funding, then support on post-money reporting obligations to investors.
The Tunisian equity ecosystem is structured around SICARs (permanent-capital investment companies), FCPRs (closed-end funds, typically 7 to 10 years) and a growing set of regional and international funds active in the country. Each has its own constraints on ticket size, sector and exit horizon; targeting the wrong category wastes months. Our knowledge of this ecosystem is the heart of our added value.
From readiness to funding, typically six to twelve months. Preparation quality is the main accelerator: a clean data room and a defensible valuation shorten every later phase.
Most often: unreliable figures, undocumented related-party flows, unresolved tax exposures, and governance that is not ready for an external shareholder. All four are fixable, before the process starts rather than during it.