Project detail - TIDE Africa II LP

TIDE Africa II LP

Status: Approved investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

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).

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
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B