TUNISIAN-AMERICAN ENTERPRISE FUND

IN 2023, TAEF CONTINUED TO WORK TO WORK WITH PERSISTENCE, DETERMINATION, AND CREATIVITY TO SUPPORT OUR INVESTEE COMPANIES AND TO SOURCE NEW OPPORTUNITIES FOR THE FUND. BY THE END OF 2023, TAEF HAD COMMITTED NEARLY ALL ITS INITIAL FUNDING AND DEPLOYED OVER $99 MILLION, LEVERAGING TND 999 M IN EXTERNAL FUNDING. IN THE PROCESS, OVER 9,800 JOBS WERE MAINTAINED AND / OR CREATED, EMPLOYING OVER 56% WOMEN AND 40% YOUTH AND OVER 419,700 MICROENTREPRENEURS RECEIVED FINANCING TO SUPPORT THEIR BUSINESSES. TAEF HAS ACTIVELY EXPANDED ITS INVESTMENT FOCUS THROUGHOUT THE COUNTRY TO PROMOTE GROWTH AND ECONOMIC OPPORTUNITIES IN THE INTERIOR AND HIGHLY DEMANDING REGIONS.FOR A DETAILED REPORT, OUR 2023 ANNUAL REPORT IS POSTED ON OUR WEBSITE: TAEFUND.ORG.GROWING SMES: TASME, OUR SME INVESTMENT SUBSIDIARY THAT IS FULLY FUNDED AT $50 MILLION. AT THE END OF 2023, TASME HAD INVESTED IN 21 COMPANIES IN A LARGE VARIETY OF SECTORS WITH INVESTMENT TICKETS AVERAGING $1.1 M. TAEF HAS INVESTED IN 3 INVESTMENT FUNDS FINANCING A TOTAL OF 13 COMPANIES.- TUNINVEST CROISSANCE, A PRIVATE EQUITY FUND INVESTING IN MID-LARGER SMES (TAEF AT 15.5%). THIS FUND IS FULLY INVESTED AND IS IN THE MONITORING, GROWTH, AND EXIT STAGE. TAEF INVESTMENT: $2.13 M EQUITY.- INMA HOLDING, A PRIVATE EQUITY INVESTMENT FUND TARGETING MID-LARGE SMES, (TAEF AT 30%). TAEF HAS COMMITTED $6.038 M EQUITY. BY THE END OF 2023, INMA HOLDING HADINVESTED IN 5 COMPANIES AND SUCCESSFULLY EXITED FROM ONE, GENERATING A 13.9% IRR.- INMA FINANCE (TAEF AT 79.65%), TAEF IS A CO-FOUNDER OF THIS NEWLY CREATED PRIVATE DEBT VEHICLE. AT THE END OF 2023 IT WAS INVESTED IN 2 COMPANIES. TAEF HAS INVESTED $10 M EQUITY. MICROENTREPRENEURS: TAEF MAINTAINED ITS 15.65% EQUITY INVESTMENT IN ONE MFI IN 2023, DAAM (FORMERLY CFE). FOR DAAM, 2023 WAS A YEAR OF SETTING THE STAGE FOR GROWTH WITH NEW CAPITAL, A ROBUSTINFORMATION SYSTEM, RISK MAPPING, DATA ANALYTICS, AND A STRONG TEAM. TAEF WAS VERY ACTIVE IN THE GOVERNANCE COMMITTEE AS IT DEVELOPED LONGER TERM STRATEGIES AND EXPLORED PARTNERSHIPS FOR GROWTH. DIGITAL ENTREPRENEURS: TAEF CONTINUED ITS SUPPORT OF FLAT6LABS AND ANAVA SEED FUND'S INVESTMENT IN DIGITAL START-UP COMPANIES. AS OF THE END OF 2023, TEN CYCLES OF DIGITAL COMPANIES, ATOTAL OF 75 STARTUPS, HAD COMPLETED THE ACCELERATOR PROGRAM AND PRESENTED THEIR COMPANIES AT A DEMO DAY. AT THE END OF 2023, 43% OF THE START-UPS HAD RAISED ADDITIONAL FOLLOW-ON FUNDING, THUS LEVERAGING ANAVA SEED FUND'S INVESTMENT BY TND 46.7M. IN ADDITION TO FINANCIAL RESOURCES, FLAT6LABS LEVERAGES ONE OF TUNISIA'S GREATEST ASSETS, ITS TALENTED AND RESOURCEFUL YOUTH.TAEF INVESTMENT IN FLAT6LABS & ANAVA SEED FUND: COMMITTED $4.2 M. WOMEN EMPLOYED IN THE STARTUPS: 55%. YOUTH EMPLOYED IN THE STARTUPS: 39%ENTREPRENEUR SEARCHERS - TASF 1 . OUR ENTREPRENEUR SEARCHED COMPLETED ACQUISITION OF PROPANN WITH AN INVESTMENT OF $ 6.05 M EQUITY. IN 2023, HE CONTINUED THE WORK SINCE ACQUISITION OF UPGRADING AND OPTIMIZING OPERATIONS, REFINING THE COMPANY'S STRATEGY WITH ATTENTION TO PRODUCT MIX, DEVELOPING NEW SOURCES FOR RAW MATERIALS, AND WORKING ON CREATING NEW MARKETS LOCALLY AND INTERNATIONALLY. MORE DETAIL INCLUDING TAEF'S INVESTMENT MAP AND ANNUAL REPORT ARE AVAILABLE ON OUR WEBSITE: TAEFUND.ORG.