TLcom Capital announced the final close of its second Africa-focused technology fund, TIDE Africa Fund II, at $154 million on April 22, 2024. The fund exceeded its $150 million target and is focused on early-stage companies, primarily at seed and Series A, across Africa—including Egypt, which expands TLcom’s previous geographic mandate.
What TIDE Africa Fund II is
TIDE Africa Fund II is TLcom Capital’s second fund dedicated to technology investments in Africa. TLcom said it was more than twice the size of its first fund and would retain a multi-sector, early-stage strategy. The manager said its first fund made more than 80% of its investments at seed or Series A; that is TLcom’s description of the earlier fund’s investment mix, not a guarantee about the new fund’s eventual allocation. TLcom’s announcement
Fund size, target and fundraising timeline
The fund’s final close was $154 million, announced April 22, 2024. TechCrunch reported that it exceeded the $150 million target, was backed by more than 20 limited partners, and followed a $70 million first close announced in January 2022. The timeline from that first close to the final announcement was just over two years. TechCrunch’s coverage
What companies and regions TLcom plans to back
Stage and investment size
TLcom identified seed and Series A as the fund’s central focus. Its announced initial investment range was $1 million to $3 million, with additional capital available for follow-on investments in companies that perform strongly. The range describes initial checks; it does not establish a fixed total investment per company.
The Tool Desk
Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →#1 Best Overall
Geography and sectors
The fund maintains a pan-African technology mandate and adds Egypt to TLcom’s prior Sub-Saharan focus. TLcom described the strategy as multi-sector rather than limited to one industry. Its initial investments named in the announcement illustrate the geographic expansion: LittleFish is based in Cape Town, South Africa, while ILLA is headquartered in Cairo, Egypt. TLcom’s announcement
Examples of early investments
- LittleFish: a Cape Town-based company building payments and banking products for retail-focused small and medium businesses.
- ILLA: a Cairo-headquartered middle-mile logistics platform.
TechCrunch reported that the fund had backed six companies by April 2024. That is a dated deployment count, not a current portfolio total. TechCrunch’s coverage
Who participated as limited partners
TLcom named the European Investment Bank, AfricaGrow (an Allianz and DEG Impact joint venture), Visa Foundation and Bertelsmann among the fund’s participating limited partners. TechCrunch also reported more than 20 LPs in total. LPs provide capital to the fund; their participation does not mean that they directly manage or operate the portfolio companies. TLcom’s announcement TechCrunch’s coverage
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the close fits the 2024 African venture market
The African Private Capital Association’s 2024 African Private Capital Activity Report says two pan-African venture capital funds larger than $150 million—TIDE Africa Fund II at $154 million and Partech Africa Fund II at $302 million—together accounted for 62% of African venture capital final closes in 2024. This is a statistic about the value of fund final closes reported for that year. It is not a measure of the share of startup funding received by African companies, nor a forecast of future fundraising or investment activity. AVCA’s 2024 report
PC Slower Than It Used to Be?
A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11Crashes, No Sound, or Screen Glitches?
Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteQuick Recap
Rank #4
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
