📋 Tender Overview
Website customer/investment
https://tlcomcapital.com/
Region
Africa
Country
Africa
Sector
Infrastructure, Manufacturing and Services
Publication date
10/9/2023
Effective date
4/19/2024
Total FMO financing
USD 10.00 MLN
Funding
Ventures Program Africa EurNb
Environmental & Social Category
(A, B+, B or C)
B
Who is our customer
TLcom Capital is a Venture Capital fund manager with experience in Africa, Europe, Israel and the USA. Their current investment strategy is focused on early-stage tech(-enabled) and digital companies in the Seed and Series A stage in Africa and operates out of their local offices in Lagos and Nairobi. TLcom launched its Africa-focused strategy in 2017 and has launched the second generation of its Africa strategy with TIDE Africa Fund II (TAF II or TIDE II), following a similar strategy as the original TIDE I Fund.
What is our funding objective
The investment strategy of TIDE Africa Fund II focuses on Seed and Series A investments in tech(-enabled) and digital companies. The Fund targets around 25 investments and will lead (or co-lead) transactions with initial tickets between USD 2 and 5 million.
Why do we fund this investment
The intended investment in TIDE II is a strong fit with FMO's objectives to empower entrepreneurs and their local communities, to support innovation, and sustainable economic development in emerging markets and to reduce inequalities. Technology can have a huge transformative impact in Africa, which has a vast untapped source of entrepreneurial energy, but lacks the necessary funding. TIDE II will make an important contribution to closing this funding gap and driving entrepreneurship and growth in Africa.
What is the Environmental and Social categorization rationale
The Environmental and Social risk category of TIDE Africa Fund II is considered B. The fund will invest in early-stage tech and tech-enabled companies which are associated with low E&S risks because of the limited number of employees and limited environmental impacts. Moreover, TIDE Africa Fund II is excluded from investing in high-risk activities. The specific E&S challenges that TIDE Africa Fund II will encounter through its investments are related to data privacy and security and general labor conditions, which are properly being addressed by the fund’s ESMS (Environmental and Social Management System).
