Moroccan private equity firm Capital Invest’s Capital North Africa Venture Fund II, a fund focused on providing equity and quasi-equity financing to local small- and medium-sized enterprises, has held a first close with over EUR75 million (approximately US$99 million) in capital commitments. The fund has a final target size of EUR100 million. The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) each committed EUR20 million (approximately US$26 million) to the fund.