Cresco

News – Emerging and Growth Companies Practice

Hummingbird Ventures in investment in Hmizate

We assisted Hummingbird Ventures II with its USD 1.6 million investment in Hmizate, a Morocco-based start-up. The investment involved complex and novel FDI structuring of a venture capital investment with the approval of the Moroccan securities and exchange commission (Office des Changes).

Hmizate (which translates as “good deals” in Arabic) operates a daily deals website, which today has more than 300,000 members and is the most visited daily deals website in Morocco. Hmizate will be using the invested capital to attract human capital and expand its activities in North-Africa.

Hummingbird Ventures II is a venture capital fund that focuses on fast-growing companies in the technology and internet sectors, with a specific focus on the MENA region.

David Dessers, Pieter Capiau and Wim Van Berendoncks constituted the deal team for this transaction.  

For any further information or questions, please contact David Dessers or Pieter Capiau.

Our people