TLcom’s TIDE Africa Fund closes at $71m


Africa-focused venture capital firm TLcom has secured an additional US$31 million for its TIDE Africa Fund, bringing the total fund size to US$71 million and allowing for a further five or six investments.

Founded in 1999, TLcom has US$200 million of VC assets under management across Africa, Europe and Israel, and in 2017 announced the US$40 million first close of the TIDE Africa Fund, dedicated to technology and innovation for Sub-Saharan Africa at all stages of venture capital. 

The fund has now grown to US$71 million after a new round of investment that attracted international interest, with TLcom confirming participation from the IFC, the UK-based CDC, South Africa’s Sango Capital and Belgium’s BIO

TLcom now expects to make an additional five or six investments in pan-African companies over the coming 12 to 18 months from seed to later stage, as well as ensure capital resources for follow-on rounds for TLcom’s existing portfolio. So far TIDE Africa has six companies in its portfolio – Andela, Kobo360, Twiga Foods, Ajua, Terragon Group and uLesson. 

“It is time for Africa VC to graduate into a world-class asset class that can generate massive returns. We are excited to bring on board new strategic institutional investors, such as CDC, IFC, Sango Capital and BIO into the fund that share this view. Attracting international investment from such renowned backers into the African VC space reflects the recognition of the work the TLcom team has already achieved in connecting some of the continent’s strongest entrepreneurs with the capital they need to scale,” said managing director Maurizio Caio.


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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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