The University of Algiers 3, also known as Brahim Soltane Chaibout, has formally launched Algeria’s first university venture fund.
The University of Algiers 3 Financial Investment Company has DZD188.8 million at its disposal. The fund was quietly announced at the end of December, though this received little press coverage at the time.
The move makes Algeria one of just a handful of African countries that have launched university venture funds, alongside Morocco, Kenya, and South Africa, according to ongoing research by The Next Leap.
News of the University of Algiers 3 Financial Investment Company comes just days after Algeria introduced a digital platform that tracks all spinouts in the country. Algeria is only the second country in the world, after the UK, to offer such a tool.
The fund’s accreditation by Algeria’s market authority, the Commission for the Organisation and Supervision of Stock Exchange Operations, was celebrated with a ceremony chaired by Kamal Baddari, minister of higher education and scientific research, and Abdelkrim Bouzred, minister of finance, earlier this week.
