TLCom Capital, a enterprise capital agency, has introduced the primary closing of a $150 million pan-African tech fund

TLcom Capital, a enterprise capital agency targeted on Africa’s good and modern startups, has introduced the primary shut of its second pan-African tech fund, which is able to spend money on 20 African seed and collection A startups.

TLCom Capital focuses on fintech, mobility, agriculture, healthcare, schooling, and e-commerce, however is open to investing in web3, crypto, and Defi corporations, in addition to different industries that function African startups competing in the identical discipline as different areas.

The preliminary shut of $70,000,000 is roughly the identical as TLcom Capital’s first fund, the TIDE Africa Fund, which had its first shut in 2017 and closing shut in February 2020.

Andela, Ajua, Autochek, Ilara Well being, Kobo360, Okra, Pula, Shara, Terragon Group, Twiga, and uLesson have been among the many 11 African corporations that TLcom Capital was in a position to spend money on after elevating $71 million within the TIDE Africa Fund in 2020.

The typical funding per firm made by TLcom Capital is roughly $6 million, however this worth varies relying on the investments made in its portfolio firms.

TLCom’s first African funding was in Andela’s $40 million Sequence C.

This was earlier than TLcom’s first fund closed in 2020, and it’s the newest stage during which it invested; Twiga’s $20 million Sequence B in 2019 is one other.

TLCom Capital plans so as to add a further 20 early-stage corporations to its portfolio within the close to future, with investments starting from $500,000 to $15,000,000.

TLcom Capital has invested in 12 corporations to date, all of them are based mostly in Nigeria or Kenya.

With the brand new fund, the enterprise capital agency will broaden its focus to Egypt whereas additionally making extra investments in East and West Africa.

 

Learn extra on Tech Gist Africa:

Netflix has pledged $1 million in direction of movie and tv scholarships in Sub-Saharan Africa

Partech, a Paris-based enterprise capital agency, has unveiled its Chapter54 accelerator to help European startups in increasing into Africa

Google Cloud will give as much as $100,000 to assist early-stage start-ups

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