April 23

TLcom Closes Africa’s Largest Early-Stage VC Fund at $154 Million

TodayTLcom Capital, the Africa-focused venture capital firm, announced the final close of TIDE Africa Fund II, its second fund for technology in Africa, at $154 million. Confirming TLcom Capital’s status as Africa’s largest Seed and Series A investor, the new fund accelerates the firm’s mission to partner with elite founders to tackle Africa’s biggest and most complex challenges with innovative solutions that will unlock massive value in the continent’s critical sectors.

At more than twice the size of TLcom Capital’s first fund, TIDE Africa Fund II is oversubscribed and sees participation from several new, high-profile LPs alongside returning LPs from the firm’s first Africa-focused fund, TIDE Africa Fund I, which closed in 2020. These include the European Investment Bank (EIB), Allianz and DEG Impact’s joint venture, AfricaGrow, Visa Foundation and Bertelsmann.

Photo courtesy of Micheile Henderson.

Source: Ventures (link opens in a new window)

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