EIB proposes investment in TLcom Capital VC fund

The European Investment Bank has disclosed a proposed investment of $30 million in the TLcom TIDE Africa II Fund, managed by TLcom Capital.

The fund aims to provide equity and quasi-equity to start-ups in sub-Saharan Africa and Egypt. The fund will support the growth of the private sector in Africa and the digitalisation of the African economy.

The fund has a target of $150 million.

* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.