TLDR: VC Firm TLcom Closes Africa’s Largest Early-Stage VC Fund at $154 Million
- TLcom Capital closes TIDE Africa Fund II at $154 million, the largest early-stage VC fund in Africa.
- The fund will focus on partnering with elite founders to tackle Africa’s challenges with innovative solutions.
VC firm TLcom Capital has announced the closing of TIDE Africa Fund II, its second fund for technology in Africa, at a total of $154 million. This fund, which is more than twice the size of the firm’s first fund, aims to partner with elite founders to address Africa’s most complex challenges with innovative solutions. The new fund sees participation from several new high-profile LPs, alongside returning LPs from the firm’s first Africa-focused fund, TIDE Africa Fund I.
With TIDE Africa Fund II, TLcom Capital will continue its early-stage, multi-sector focus and expand its mandate beyond Sub-Saharan Africa to include Egypt. The fund will make initial investments of $1 million to $3 million, with a focus on supporting strong portfolio performers into their growth stages. The firm has already made its first investments in South Africa and Egypt, showcasing its commitment to supporting innovative startups across the continent.
Maurizio Caio, Founder and Managing Partner at TLcom Capital, highlighted the firm’s dedication to supporting Africa’s most talented entrepreneurs and its long-term view on the continent’s potential. The new fund will also focus on deploying additional capital into female-founded African tech startups, building on the firm’s commitment to gender balance.
TLcom Capital’s portfolio currently includes 17 startups, with a focus on companies such as Andela, Ajua, Autochek, and Ilara Health. The firm’s commitment to supporting visionary entrepreneurs and driving inclusive economic growth in Africa has been praised by industry leaders and investors.
Overall, the closing of TIDE Africa Fund II represents a significant milestone for TLcom Capital and a positive step towards building a stronger technology ecosystem in Africa.
