TLDR:
TLcom Capital announced the final close of TIDE Africa Fund II, its second fund for technology in Africa, at $154 million. The fund is oversubscribed and supported by high-profile LPs. TLcom plans to partner with elite founders to address key challenges in Africa, with a focus on early-stage investments of $1-3 million. The firm has expanded its mandate to Egypt and aims to support female-founded tech startups. TLcom Capital currently manages over $300 million and has a strong track record of supporting successful startups in Africa.
Today, TLcom Capital, the Africa-focused venture capital firm, announced the final close of TIDE Africa Fund II, its second fund for technology in Africa, at $154 million. The new fund confirms TLcom Capital as Africa’s largest Seed and Series A investor and aims to partner with elite founders to address Africa’s challenges with innovative solutions.
The oversubscribed fund sees participation from high-profile LPs, including the European Investment Bank, Allianz, DEG Impact, Visa Foundation, and Bertelsmann. With an expanded mandate beyond Sub-Saharan Africa to Egypt, the fund will make initial investments of $1-3 million and provide support for strong portfolio performers into their growth stages.
TLcom Capital’s commitment to gender balance is reflected in its majority-female partnership and investment committee. The firm plans to deploy significant additional capital into female-founded African tech startups and has a strong track record of supporting successful startups in Africa, including Andela, Autochek, uLesson, and Pula.
