TLcom Capital has successfully closed its TIDE Africa Fund II, surpassing its $150 million target by securing a remarkable $154 million. This fund is dedicated to nurturing startups across the continent, with a particular emphasis on expanding into North Africa, starting with Egypt.
Impressive Investor Lineup
The fund boasts an impressive lineup of investors, including heavyweight institutions such as the European Investment Bank, AfricaGrow, Visa Foundation, and Bertelsmann, alongside returning investors like IFC and CDC Group.
Expansion into North Africa
TLcom Capital is broadening its horizons beyond sub-Saharan Africa, venturing into North Africa, with Egypt being the initial focus. Already, it has made significant investments in South African fintech startup Littlefish and Egyptian logistics startup ILLA.
Investment Strategy
Staying true to its successful investment strategy, TLcom Capital continues to focus on seed and Series A investments, with initial checks ranging from $1 million to $3 million. Additionally, the firm reserves capital for follow-on investments to support the growth of its portfolio companies.
Commitment to Female Founders
TLcom Capital is doubling down on its commitment to supporting female founders, with 30% of its portfolio already led by women. With the addition of Eloho Omame, co-founder of the female-focused fund FirstCheck, as a Partner, TLcom Capital aims to further bolster its efforts in this area.
Proven Track Record
With a track record that speaks for itself, TLcom Capital has backed 17 startups, including unicorn Andela, and managed over $300 million in assets. Its first fund paved the way for successes like Kobo360 and Twiga Foods, demonstrating its ability to identify and support high-growth ventures.
Continued Growth and Focus on Diversity
With ample resources at its disposal, TLcom Capital is poised for continued growth and is determined to further increase its support for female founders. With a strong foundation and proven expertise, the firm remains committed to driving innovation and entrepreneurship across Africa.
Source: Techpoint