Africa Outlook

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.

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