TLcom Capital, a prominent Africa-focused venture capital firm, recently closed its TIDE Africa Fund II, securing $154 million in funding. The fund, oversubscribed and supported by a diverse group of investors including the European Investment Bank (EIB), Allianz, DEG Impact’s AfricaGrow, Visa Foundation, and Bertelsmann, underscores growing confidence in Africa’s tech potential.
Expanding its mandate beyond Sub-Saharan Africa to include Egypt, TIDE Africa Fund II targets early-stage startups with initial investments ranging from $1 million to $3 million. Already, TLcom Capital has made strategic investments in South Africa and Egypt, supporting innovative companies like LittleFish and ILLA.
Maurizio Caio, TLcom Capital’s Founder and Managing Partner, expressed confidence in the firm’s ability to drive long-term impact, citing its track record of backing visionary founders. With a portfolio that includes fast-growing startups such as uLesson, Autochek, Pula, Fairmoney, and Andela, TLcom Capital continues to attract top-tier talent, contributing to Africa’s tech ecosystem.
To support its expanded operations, TLcom Capital has doubled its team size to 15 employees, demonstrating its commitment to identifying and nurturing high-potential startups across the continent.
Ambroise Fayolle, Vice President at the European Investment Bank, highlighted the importance of providing early-stage capital to African startups, emphasizing TLcom Capital’s role in fostering inclusive economic growth.
Najada Kumbuli, Vice President & Head of Investments at Visa Foundation, echoed this sentiment, emphasizing TLcom Capital’s commitment to supporting diverse entrepreneurs, particularly female-founded tech startups.
With its latest funding round, TLcom Capital is poised to shape Africa’s digital future, driving technological innovation and creating lasting impact across the continent.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
26th April, 2024
