TLcom Capital, a leading venture capital firm focused on early-stage African startups, has successfully closed its TIDE Africa Fund II, surpassing its initial target of $150 million. This $154 million fund will provide crucial seed and Series A funding to promising ventures across the continent, with a particular focus on expanding its reach into North Africa, starting with Egypt.
The fund attracted a diverse range of investors, including renowned institutions such as the International Finance Corporation (IFC), the European Investment Bank (EIB), and the CDC Group. This influx of capital reflects growing global confidence in the potential of African tech.
TLcom has a proven track record of success, having backed a portfolio of high-growth startups, including the unicorn Andela. The firm’s commitment to supporting female founders is evident in its investment in FirstCheck Africa, a fund dedicated to empowering women entrepreneurs.
Maurizio Caio, Founder and Managing Partner of TLcom Capital, expressed his enthusiasm for the fund’s closure, emphasizing the firm’s continued dedication to partnering with exceptional African entrepreneurs at the earliest stages of their journeys.
