Two years after opening the Lagos office and appointing former minister of Communications, Omobola Johnson as general partner, TLcom Capital announced that it has raised $40 million to fund business and startups in Africa.
With a target funding size of $100 million dollars, TLcom venture capital funding will focus on providing capital for technology and tech-enabled businesses in Sub-Saharan Africa. Apart from the funding support, the company will also provide business support for selected entrepreneurs to ensure they succeed.
Investment size for entrepreneurs will range from $500k to $10 million while the number of businesses to benefit will range between but not limited to 10-12 depending on the valuation and investment requirement, the choice of companies to invest requires that they must have passed the conceptual stage, have customers, be generating revenue and most importantly have technology as a fundamental element.
The fund will cover basic investment themes such as financial services (remittances, payment gateways, mobile wallet), commerce, B2C (consumer facing services such as health), enterprise software solutions and access to data services.
If you are a startup solving a major problem, have an attractive market, targeting a country or more and have a good team, this may just be the best time to prepare your pitch deck.
