TLcom TIDE Africa

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

Sub-Saharan Africa: Kenya, Nigeria

Investment field

Investment Companies & Funds

Activity

SME fund

Organisation

TIDE Africa Fund

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.

Ajua

Kenya

AJUA (Formerly mSurvey) is Africa's first Integrated Customer Experience company accelerating growth for businesses in Africa.

Read impact and news about this project

Accommodating the ability to speak

Impact Story

Accommodating the ability to speak

01-10-2019

BIO made a USD 5 M equity investment in the TIDE TLcom Africa Fund, a fund of TLCapital.

Ido Sum is a partner of TLCapital. This is his story.

Read more
We have a responsibility to develop the continent

Impact Story

We have a responsibility to develop the continent

12-06-2019

Dr Omobola Johnson is a Partner in the TIDE TLCom Venture Capital Fund

Read more

View more of our investments in this region

Fefisol II

Investment Companies & Funds

Fefisol II

  350,000.00

  Burkina Faso, Côte d'Ivoire, Democratic Republic of Congo, Kenya, Mali, Niger, Uganda

  29/11/2022

  Subsidy

Phatisa Food Fund 2

Investment Companies & Funds

Phatisa Food Fund 2

  240,396.00

  Tanzania, Uganda, Zambia

  28/11/2022

  Subsidy

Compagnie Africaine de Crédit

Financial Institutions

Compagnie Africaine de Crédit

  19,789.00

  Côte d'Ivoire

  21/11/2022

  Subsidy

TIDE Africa II Fund

Investment Companies & Funds

TIDE Africa II Fund

  7,212,033.79

  Kenya, Nigeria

  01/11/2022

  Equity

KCB Kenya

Financial Institutions

KCB Kenya

  42,512.20

  Kenya

  27/10/2022

  Subsidy

Njeru Industries

Enterprises

Njeru Industries

  14,654.50

  Kenya

  19/10/2022

  Subsidy

TIDE Africa II Fund

Investment Companies & Funds

TIDE Africa II Fund

  7,212,033.79

  Kenya, Nigeria

  29/09/2022

  Equity

Poa! Internet

Enterprises

Poa! Internet

  17,264.00

  Kenya

  08/09/2022

  Subsidy

Electrical Controls and Switchgear Ltd.

Enterprises

Electrical Controls and Switchgear Ltd.

  32,366.50

  Uganda

  04/08/2022

  Subsidy