Investment firm LoftyInc Capital Successfully Acquires $43 Million for Booming Tech Businesses in Africa's Market
LoftyInc Capital Management, a leading venture capital firm focusing on Africa, has announced the first close of its LoftyInc Alpha Fund, securing $43 million. This fund is dedicated to fostering the growth of emerging tech startups across the continent.
The fund's primary focus is on key markets such as Nigeria, Egypt, Kenya, and regions within Francophone Africa. Notable investors in the LoftyInc Alpha Fund include FMO, Proparco, IFC, and others, recognized development finance institutions with expertise in development finance and emerging markets.
The leadership team at LoftyInc brings a wealth of experience. Managing Partner Idris Ayodeji Bello has backed over 100 startups across 25 markets and secured 14 successful exits. General Partners Mariam Kamel and Kevin Simmons add expertise in investment banking, startup advisory, and operational management across multiple continents.
The LoftyInc Alpha Fund targets late-seed investments in promising tech startups. It maintains a sector-agnostic investment strategy and is interested in companies operating in health tech, retail, deep tech, and artificial intelligence.
To stay updated on the latest news and developments in Africa's tech and startup ecosystems, LoftyInc has launched a WhatsApp channel. This free service covers all 54 African countries, from Cairo to Cape Town, and Lagos to Nairobi. Subscribing to the channel provides timely and relevant updates on Africa's tech, startup, and venture capital sectors.
This strategic initiative highlights LoftyInc's dedication to fostering innovation and strengthening Africa's position in the global technology ecosystem. The fund has drawn support from a diverse range of investors, including sovereign wealth funds, development finance institutions (DFIs), U.S. family offices, and regional investment organizations.
For those interested in Africa's tech, startup, and venture capital sectors, the WhatsApp channel promises to be a valuable resource. It aims to keep subscribers informed about the latest news and trends in these dynamic and rapidly growing industries.
The LoftyInc Alpha Fund, with a sector-agnostic investment strategy, is aiming late-seed investments in tech startups operating in key African markets, such as Nigeria, Egypt, Kenya, and Francophone Africa. It shows interest in startups working in sectors like health tech, retail, deep tech, and artificial intelligence.
Despite focusing on Africa, the LoftyInc Alpha Fund has attracted notable investors, such as FMO, Proparco, IFC, and others, known for their expertise in development finance and emerging markets.
