Agadir – The International Finance Corporation (IFC), the World Bank Group’s private-sector investment arm, is considering a $15 million investment in IMG Fund I, a private equity fund dedicated to supporting the growth of Moroccan companies across strategic sectors.
The proposed investment is part of the IFC’s efforts to expand access to long-term financing for medium-sized businesses in Morocco and strengthen the country’s private equity ecosystem.
Managed by IMG Capital, IMG Fund I is targeting a final size of MAD 1.5 billion (approximately $165 million). The fund plans to invest in seven to ten Moroccan companies with strong growth potential, focusing on sectors considered critical to the country’s economic development.
“The proposed project is for IFC to commit up to US$15 million into IMG Fund I (IMG I or the Fund), a growth equity fund targeting MAD1.5 billion ($162 million) in commitments to invest primarily in Morocco,” IFC stated.
‘Family-owned businesses looking to institutionalize’ are the main target
According to project details published by the IFC, individual investments are expected to range between MAD 60 million and MAD 200 million, enabling recipient companies to finance expansion plans, improve competitiveness, and create jobs.
The fund’s investment strategy will focus on sectors including healthcare, financial services, digital infrastructure, education, and consumer goods. These industries have been identified as key drivers of economic growth and private-sector development in Morocco.
The IFC’s potential participation is expected to help attract additional institutional investors while reinforcing confidence in Morocco’s investment environment. By providing capital to growing businesses, the fund aims to support entrepreneurship and contribute to the diversification of the national economy.
“The Fund will mainly target family-owned businesses looking to institutionalize before or after a succession and opportunistically buy & build,” IFC explained.
If approved, the IFC’s commitment would provide IMG Fund I with international backing from one of the world’s leading development finance institutions, further strengthening Morocco’s position as an emerging destination for private equity investment in Africa.