Zitouna Capital

Zitouna Capital operates as the private equity subsidiary of Banque Zitouna, an Islamic bank based in Tunisia. The bank provides Sharia-compliant banking services and serves as the parent institution. Zitouna Capital draws its investment capital and institutional backing from this parent structure, deploying it under the same religious compliance framework.

The firm focuses on seed-stage and early-stage equity investments. It deploys what is effectively anchor capital into young companies, a posture suited to markets where traditional venture capital and growth equity are not broadly available. The stage focus aligns with development-oriented, Sharia-compliant financing missions.

While Zitouna Capital is headquartered in Le Kram, Tunisia, its stated strategy includes the broader North African and Maghreb region. The firm's parent bank is Tunisian, but as with many North African funds, the geographic mandate typically includes neighboring markets like Morocco and Algeria when opportunities fit the Sharia-compliant criteria.

Yes. As a subsidiary of an Islamic bank regulated by the Central Bank of Tunisia, Zitouna Capital's entire investment process must adhere to Sharia law. This means it excludes sectors such as conventional finance, alcohol, gambling, and any instrument involving interest payments. All portfolio companies are screened for compliance by the parent's religious supervisory board.

Zitouna Capital does not publicly disclose its assets under management. As a non-bank subsidiary of a privately positioned group, AUM figures are not published. The parent, Banque Zitouna, is a significant institution in Tunisia, but its private equity arm operates without public disclosure of deployment numbers or fund sizes.