TLcom Capital LLP Africa-focused venture capital firm has spearheaded one of the region’s most significant fundraising campaigns in the last five months, aiming to invest in technology startups, hinting at a potential surge in dealmaking activity within the industry.
TLcom Capital, known for backing prominent tech startups in East and West Africa over the past seven years, announced on Monday the completion of a $154 million two-year fundraising round, nearly doubling its previous round of $71 million and attracting investments from the US and Europe.
Founders and Partners include: Eloho Omame, Andreata Muforo, Omobola Johnson, Ido Sum, and Maurizio Caio.
With VC firms raising over $655 million for Africa’s tech industry since November, TLcom’s latest fundraising joins the $300 million raised in February by Partech’s Africa fund and the $205 million raised five months ago by Norrsken22, another fund focused on the region.
TLcom aims to diversify its portfolio companies into Southern Africa and Egypt, solidifying its presence in the continent’s four largest markets to attract more investment. According to Maurizio Caio, TLcom’s managing partner, raising funds for technology in Africa has historically been challenging, but it’s becoming increasingly acceptable for global capital.
