TLDR:
- TLcom, a venture capital firm, raised $154m for its second fund, TIDE Africa Fund II.
- The fund is focused on partnering with elite founders to tackle challenges in Africa’s critical sectors.
TLcom, a venture capital firm with offices in Lagos and Nairobi, recently raised $154m for its second fund, TIDE Africa Fund II. This new fund aims to accelerate the firm’s mission of partnering with elite founders to address Africa’s most significant challenges with innovative solutions that can unlock substantial value in critical sectors. TIDE Africa Fund II is now the largest early-stage VC fund focused on Africa, establishing TLcom as the continent’s premier investor across seed and Series A stages.
The fund was oversubscribed and attracted several new high-profile Limited Partners (LPs) along with returning LPs from TLcom’s first Africa-focused fund, TIDE Africa Fund I. Notable participants in the fund include the European Investment Bank, Allianz, DEG Impact’s joint venture AfricaGrow, the Visa Foundation, and Bertelsmann.
Managing Partner at TLcom Capital, Maurizio Caio, expressed pride in the firm’s achievement, highlighting their focus on investing in early-stage companies. He emphasized TLcom’s commitment to partnering with Africa’s most talented entrepreneurs from the onset of their company-building journeys. Caio also mentioned plans to increase investments in the Egyptian ecosystem and co-invest with local funds, aiming to solidify TLcom’s position as a leading early-stage VC firm in Africa.
This successful fundraise underscores TLcom’s dedication to supporting innovation and growth in Africa, making them a sought-after partner for entrepreneurs in the continent’s dynamic startup ecosystem.
