TLcom Capital Raises $154M To Boost African Tech Startups

TLcom Capital, a venture capital firm that partners with African entrepreneurs, has successfully closed its second fund, TIDE Africa Fund II, reaching $154 million.

TLcom Capital

From fintech to healthcare, TLcom has remained focused on seed to Series A investments, supporting transformative businesses like Andela and FairMoney through multiple funding rounds.

With a majority-female leadership team, the firm not only champions gender balance but also backs initiatives like FirstCheck Africa to support women-led startups.

TLcom’s approach involves partnering with entrepreneurs from the outset, aiming to build ventures that can deliver substantial returns. 

TIDE Africa Fund II

This latest fundraising milestone surpasses TLcom’s initial target by $4 million.

Notable investors include the European Investment Bank (EIB), Visa Foundation, Bertelsmann, and AfricaGrow, a joint venture between Allianz and DEG Impact.

The fund will use the money to expand into Egypt and invest in startups tackling the continent’s biggest and most complex challenges with innovative solutions.

They also plan to deploy capital into female-founded African tech startups, similar to TIDE Africa Fund I.

“Our second fund has been easier because we didn’t have to explain the strategy as we could point to actual companies,” Maurizio Caio, TLcom’s managing partner told the Financial Times.

“Despite the economic downturn, Africa is becoming more relevant in the strategies of a lot of players globally.”