European LP backs LoftyInc Alpha Fund

FMO has disclosed an approved $7 million investment in the LoftyInc Alpha Fund.

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Dutch development finance institution FMO has disclosed an approved $7 million investment in the LoftyInc Alpha Fund, a pan-African generalist early-stage venture capital fund investing across Africa from Seed to Series A stage.

The fund is managed by LoftyInc Capital Management, which operates out of offices in Nigeria, Egypt and Kenya.

The fund intends to focus on early-stage startups building tech-enabled solutions for the ‘everyday economy’ with high growth potential.

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