TLcom Capital, a leading Africa-focused venture capital firm, has successfully closed its second fund, TIDE Africa Fund II, with a total of $154 million. It solidifies TLcom’s position as Africa’s largest Seed and Series A investor.
The new fund aims to drive substantial value across Africa’s key sectors, including startups in the logistics sector.
Global investors for innovation
The fund attracted several high-profile new partners, including the European Investment Bank (EIB), Allianz, DEG Impact‘s joint venture AfricaGrow, Visa Foundation, and Bertelsmann.
These join returning partners from the firm’s inaugural Africa-focused fund, TIDE Africa Fund I, which closed in 2020.
Expanding its geographic focus, TLcom now includes Egypt alongside its traditional base in Sub-Saharan Africa.
Initial investments from $1 million to $3 million will be directed at promising early-stage companies, with additional funds earmarked for subsequent growth stages.
Notably, the fund has already begun deploying capital in South Africa and Egypt, with investments in LittleFish, a software company in Cape Town, and ILLA, a logistics platform based in Cairo.
Startup growth in Africa
Maurizio Caio, Founder and Managing Partner at TLcom, expressed pride in the firm’s growth and support for the startup sector.
He said, “Raising multiple substantial funds showcases the quality of our team and the deep trust we’ve built with our partners.”
He emphasised the firm’s early involvement strategy with Africa’s most promising entrepreneurs, aiming to enhance TLcom’s impact in the Egyptian startup ecosystem and solidify its status as a pan-African leader in early-stage investments.
Read more:
The portfolio of TLcom boasts some of the fastest-growing startups in African tech, including notable enterprises like uLesson, Autochek, Pula, Fairmoney, and Andela—the latter being one of the continent’s six unicorn companies. The firm continues to attract seasoned entrepreneurs, supporting their ventures into market-leading positions.
