TLcom venture capital has received additional capital from new partners for its TIDE Africa Fund bringing the total funds to Ksh7.1B.
The new partners include World Bank’s IFC, CDC from the UK, Sango Capital from South Africa, and BIO from Belgium.
Techcrunch reports that within the next 12-18 months the fund will make investments in 6 pan-african firms. In this case, the focus will be primarily in Nigeria, Kenya, and South Africa with eyes on new markets such as Ethiopia.
TLcom set up the TIDE Africa Fund in 2017 to focus on Sub-saharan Africa with Ksh4B first close dedicated to technology and innovation. Already, the fund has six companies in its portfolio including Andela, Kobo360, Twiga Foods, Ajua, Terragon Group, and uLesson.
TLcom is an Africa-focused venture capital firm with offfices in Nigeria, Kenya, and the UK and portfolio ranging from agriculture, education, data analytics and logistics. Launched in 1999, TLcom currently has in excess of $200M under management across primary and secondary funds.
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