TLcom Capital fund signs new DFI LP
German development finance institution DEG has disclosed a commitment of $12.5 million to the TIDE Africa Fund II, a $150 million (target) VC fund managed by TLcom Capital LLP.
TLcom previously announced that it had reached the first close of this fund, its second dedicated to Africa, in January 2022 at $70 million.
With TIDE Africa Fund II, TLcom will continue to invest in tech and tech-enabled companies, adding Egypt as a new focus market alongside its long-standing commitment to East and West Africa.
TIDE Africa Fund I has invested in companies such as Andela, Pula, Twiga Foods and uLesson.
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