TLcom Capital hits $40m first close for sub-Saharan Africa tech fund

Friday, June 30, 2017

TLcom Capital has hit a $40m first close for what it says is the first international venture capital fund focused exclusively on tech investment in sub-Saharan Africa.

The $100m-targeting TIDE Africa fund will look to provide African entrepreneurs with capital to develop tech-driven solutions to the continent’s biggest problems.

The African Development bank and European Investment Bank both committed $10m each to the first close, with other investors including FBN Capital and Stanford SEED institute founder Bob King.

Source: AltAssets (link opens in a new window)

impact investing, venture capital