African VC LoftyInc Capital launches third fund for seed and Series A, reaches $43M first close
- LoftyInc Capital has reached the first close of its third fund, LoftyInc Alpha, at $43 million.
- The fund will target late-seed and Series A startups, expanding its geographical focus across Nigeria, Egypt, Kenya, and Francophone Africa.
- The first close attracted a diverse group of limited partners, including sovereign wealth funds and development finance institutions.
LoftyInc's strategic shift towards late-seed and Series A investments is a timely response to the evolving needs of Africa's startup ecosystem. By addressing the critical funding gap and leveraging its extensive network, LoftyInc is well-positioned to foster growth and innovation across various sectors. This approach not only benefits the startups but also strengthens the overall investment landscape in Africa, making it an exciting space to watch.
