TIDE Africa Fund

Equity : June 2019

The TIDE Africa Fund is a venture capital fund focusing exclusively on technology enabled services and innovation for Sub Saharan Africa.

Amount

€ 4,367,820.00

Type of investment

Equity

Development impacts

Local economic growth
Private sector consolidation/innovation

Beneficiary locations

Africa: Kenya, Nigeria

Investment field

Investment Companies & Funds

Activity

SME fund

Organisation

TIDE Africa Fund

Website

http://www.tlcomcapital.com/

Domicile

Mauritius

The TLcom Technology and Innovation for Developing Economies Africa Fund (the “TIDE Africa Fund”) is a venture capital fund focusing exclusively on technology enabled services and innovation for Sub Saharan Africa (SSA) across all stages of the venture capital cycle. It will make equity investments into fast growth entrepreneurs and enterprises leveraging technology and innovation to serve the SSA market, with either the potential to scale globally, or the ability to profitably serve customers at the base of the economic pyramid, which continue to represent the vast majority of consumer demand in the region and in other developing economies.

Goals

The Fund goals are twofold: (a) To achieve value generation by delivering commercial risk adjusted returns for investors; and (b) To contribute to the social and economic development of SSA by starting and scaling profitable and sustainable companies, and creating jobs and opportunities in the region through market driven investment in technology, innovation and entrepreneurship.

Development impacts

Local economic growth
The Fund provides capital funding to innovative companies, both start-ups and scale-ups levels, with the goal to sustain and create jobs in the digital sector.
Private sector consolidation/innovation
TIDE Africa fosters innovation and innovative business models, increases access and affordability to key goods and services for low- and middle-income people in SSA, and contributes to find innovative solutions to local problems.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

Kobo360

Nigeria

Kobo360 is a technology company that aggregates end-to-end haulage operations to help cargo owners, truck owners, drivers, and cargo recipients to achieve an efficient supply chain framework.

Twiga

Kenya

Since 2014, Twiga has been bridging gaps in food and market security through an organized platform for an efﬁcient, fair, transparent and formal marketplace.