Powering Africa’s Next Tech Giants
LoftyInc Capital Management has successfully secured a $43 million first close for its latest investment fund, the LoftyInc Alpha Fund. This late-seed investment vehicle aims to scale Africa’s most promising tech startups, focusing on Nigeria, Egypt, Kenya, and Francophone Africa.
As one of Africa’s leading venture capital firms, LoftyInc has been instrumental in shaping the continent’s startup ecosystem. The firm has backed high-growth companies such as Flutterwave, Andela, Wave Mobile Money, OmniRetail, RelianceHealth, Thndr, and Moove—which recently landed a $100 million investment from Uber and Mubadala.
Strong Investor Backing
The Alpha Fund’s first close attracted a diverse mix of investors, including:
- Sovereign wealth funds
- Development finance institutions (DFIs)
- US family offices
- Regional investment bodies
Key investors include Egypt’s MSMEDA, Tunisia’s Anava Fund of Funds, FMO (the Dutch Entrepreneurial Development Bank), Proparco with FISEA, IFC, AfricaGrow (advised by DEG Impact GmbH), the Dutch Good Growth Fund (DGGF), and US-based First Close Partners. The fund also secured commitments from African high-net-worth individuals (HNIs), further reinforcing local confidence in LoftyInc’s ability to support transformative businesses.
Experienced Leadership Driving Growth
LoftyInc’s leadership team brings decades of investment and operational experience across African and global markets:
- Idris Ayodeji Bello (Managing Partner) – Invested in over 100 startups across 25 markets, with 14 successful exits.
- Mariam Kamel (General Partner) – Brings expertise in investment banking and startup advisory, supporting founders across the MENA region.
- Kevin Simmons (General Partner) – A seasoned founder, operator, and investor, working across 15 markets spanning three continents.
Together, they lead a skilled investment and operations team across Africa’s top tech hubs, including Francophone Africa, ensuring hands-on support for startups.
A Fund Designed for Scalability
The LoftyInc Alpha Fund is tailored to help startups transition from early traction to scalable growth. More than just capital, LoftyInc provides:
- Strategic mentorship and advisory services
- Operational support to navigate challenges
- Access to global networks and partnerships
- Market expansion assistance
Africa’s Booming Tech Ecosystem
With growing investor interest and a rapidly evolving tech landscape, Africa is emerging as a global innovation powerhouse. LoftyInc’s latest fund continues its legacy of identifying, funding, and supporting top-tier entrepreneurs, ensuring long-term value creation for startups and investors alike.
As Africa’s startup scene gains global recognition, funds like LoftyInc Alpha will play a critical role in accelerating growth, driving innovation, and unlocking economic opportunities across the continent.
