Around Africa in seven stories

VENTURE CAPITAL firm TLcom Capital has recently closed its Tide Africa Fund after it reached $71 million. Over the next 18 months it is looking to make up to 12 startup investments.

According to TLcom Managing Partner Maurizio Caio, the group is looking to invest in tech-enabled, revenue-driven ventures in Africa from seed stage to series B.

“We’re rather sector agnostic, but right now we are looking at companies that are more infrastructure type tech rather than super commoditised things like consumer lending,” he said.

The company intends to focus on startups working in Africa’s three largest tech hubs – Nigeria, Kenya and South Africa – but is also interested in rising markets like Ethiopia.