January 27

TLcom Capital Raises $70 Million to Back African Tech Startups

TLcom Capital, a venture capital firm, says it has secured $70 million for its $150 million fund to invest in African tech-enabled businesses.

The firm announced this in a statement on Thursday.

With its new fund, TLcom said it will add an additional 20 early-stage startups across Africa to its portfolio with an emphasis on seed and Series A stages.

It added that it would target entrepreneurs tackling some of the continent’s most complex challenges in sectors, including fintech, mobility, agriculture, healthcare, education and e-commerce.

Photo courtesy of Angelo Moleele.

Source: The Cable (link opens in a new window)

e-commerce, fintech, impact investing, startups