DEG reveals investment in TLcom Capital fund

German development finance institution DEG has disclosed the signing of an equity investment of $5 million in TIDE Africa II, a venture capital fund managed by TLcom Capital.

The fund invests in young companies using tech innovations to disrupt inefficient business models in Africa. The strategy seeks to capitalise on Africa’s rapid population growth and high mobile phone penetration.

The fund is sector agnostic and will invest in market space enablement, agtech and fintech solutions alike.

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