TLcom Capital closes second fund at $154M to back early-stage startups across Africa
- TLcom Capital closes its second fund, TIDE Africa Fund II, at $154 million, positioning itself as Africa's largest investor in seed and Series A.
- The oversubscribed fund attracted participation from notable investors such as the European Investment Bank, Visa Foundation, Bertelsmann, and AfricaGrow.
- TLcom focuses on early-stage opportunities and maintains a consistent strategy of backing startups at the seed and Series A stages.
The successful closing of TLcom Capital's second fund demonstrates the resilience of venture capital activity in Africa. The firm's ability to attract notable investors and its consistent strategy of backing early-stage startups positions it as a key player in the African tech ecosystem. However, the focus should now shift towards generating tangible returns and exit opportunities to drive further growth.
