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TLcom Capital, a prominent early-stage African Venture Capital firm, has secured $154 million from investors to fuel its expansion into Egypt and amplify its investments in startups addressing Africa’s challenges through innovative solutions.
In a statement released by the company on Monday, it was disclosed that investors in the latest funding round include the European Investment Bank, Allianz SE, and the Visa Foundation. Additionally, DEG Impact’s joint venture AfricaGrow and Bertelsmann are among the other investors in TLcom Capital’s TIDE Africa Fund II.
The TIDE Africa Fund II has already commenced its inaugural investments, channeling funds into ILLA, a Cairo-based middle-mile logistics platform, and LittleFish, an e-commerce platform based in South Africa.
Maurizio Caio, founder and managing partner at TLcom Capital, emphasized in an interview that the firm is committed to allocating significant capital to support female-founded African tech startups, mirroring the approach of TIDE Africa Fund I.
“Africa’s startup ecosystem has the potential to drive inclusive economic growth and foster positive social change, which the EIB is happy to support,” stated Ambroise Fayolle, Vice-president at the European Investment Bank, underscoring the importance of capital accessibility for early-stage startups across Africa.
Since its inception in 1999, TLcom Capital has been at the forefront of supporting innovative entrepreneurs leveraging technology to address significant challenges. With investments totaling over $300 million, the Venture Capital firm is actively deploying capital from its TIDE Africa Fund, targeting early to growth-stage companies across sub-Saharan Africa.
TLcom Capital focuses on backing entrepreneurs who are developing technology-driven businesses aimed at tackling some of the continent’s most intricate challenges. Its investment range typically falls between $500,000 and $10 million per company, supporting ventures with the potential for rapid scalability and impactful solutions.
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