Private Equity
In Morocco
Real Estate | Hospitality | Technology
We invest in Morocco's highest-potential sectors — real estate, hospitality, and technology — combining European institutional discipline with deep local expertise and operational value creation.
Morocco-focused Private Equity platform connecting European capital with high-growth opportunities
Larbi Capital invests in Morocco's highest-potential sectors — real estate, hospitality, and technology — combining European institutional governance with cultural fluency on the ground.
The firm is led by founder Jonas Ben Larbi, supported by external advisors in M&A, tax, and asset management.
Why Morocco. Why now.
Stable macro, EU-anchored economy.
Three decades of political stability, an EU Association Agreement, free-trade access to 60+ markets, and one of MENA's lowest sovereign risk profiles.
Structural undersupply in institutional-grade real estate.
Persistent ~400K unit housing deficit and a fragmented hospitality market starved of branded, professionally-managed inventory.
Pre-2030 World Cup capex tailwind.
$50B+ infrastructure programme co-hosted with Spain and Portugal — airports, rail, hospitality — concentrated in our target corridors.
2026 GDP
3.5%
Tourism Arrivals
19.8M
Pre-WC2030 Capex
$50B+
Investment Strategy
We target value-add opportunities across Morocco's highest-growth sectors, combining proprietary deal flow with hands-on operational management across two verticals.
Real Estate
Opportunistic & value-add. Hospitality-led.
Sourcing
Proprietary deal flow through direct relationships with hoteliers, developers, notaries, and financial institutions. Off-market preferred.
Diligence
Third-party valuations, technical and structural surveys, legal title verification, environmental review, capex budgeting, and financial underwriting.
Value Creation
Full repositioning — renovation, ground-up development, international distribution, revenue management systems, brand repositioning, and active asset oversight.
Exit
Trade sale to hotel groups, sale to family offices, or contribution to OPCI vehicles — timed against stabilised performance.
Technology
Moroccan & MENA tech. Build, back, or buy.
Sourcing
Three deal origination paths — building companies in-house (venture studio), backing early-stage founders, or acquiring later-stage businesses.
Diligence
Unit economics, cohort analysis, regulatory positioning, and reference calls with customers and prior investors.
Value Creation
Hands-on support on Morocco GTM, governance, finance build-out, and follow-on capital introductions.
Exit
Strategic trade sale, secondary to later-stage funds, or IPO routes into Casablanca or European exchanges.
RE Fund I — Hospitality
Our inaugural fund targets Morocco's premium hospitality sector — a market experiencing structural tourism growth, significant undersupply of institutional-quality accommodation, and a generational catalyst in the 2030 FIFA World Cup.
Detailed fund materials available to qualified investors upon request.
Portfolio Companies
Moroccan & MENA tech. Build, back, or buy.
Long-term holdings outside of our fund structures. These companies represent strategic positions in Moroccan and MENA technology — built in-house, backed at early stage, or acquired.
Flos.ma
Morocco's comparison platform for financial services — helping consumers find better loans, mortgages, credit cards, mobile plans, and internet offers. Stop overpaying. Compare & save.
Visit flos.maTaghazoutguide.ma
Lead generation platform for local businesses in Taghazout and Morocco's Atlantic coast — connecting travelers with accommodations, surf schools, restaurants, and experiences.
Dabacredit.ma
A new credit and lending platform designed to expand financial inclusion across Morocco. More details coming soon.
Leadership
European institutional discipline combined with deep on-the-ground Moroccan market expertise.
Jonas Ben Larbi
Founder & Managing Partner
Swedish-born Moroccan citizen with a corporate finance background spanning M&A and FP&A, including senior roles at Enento Group (Nasdaq Helsinki). Active investor in Moroccan real estate opportunities. Fluent in Swedish, English, French, and Arabic.
LinkedIn profileLet's Start a Conversation
Whether you're a qualified investor exploring our funds, a property owner considering a partnership, or a professional seeking collaboration, we'd love to hear from you.