LoftyInc Capital, a leading African venture capital firm, has successfully closed its third fund, LoftyInc Alpha, with $43 million to invest in late-seed and Series A startups. The fund aims to support businesses across Nigeria, Egypt, Kenya, and Francophone Africa and attracted a diverse set of limited partners, including development finance institutions and sovereign wealth funds. Founder Idris Ayo Bello, a seasoned investor, has witnessed Africa's tech evolution and aims to support the sector through its funding fluctuations.
LoftyInc Capital has reached the first close of its third fund, LoftyInc Alpha, at $43 million, targeting late-seed and Series A startups across Africa.
The fund attracted limited partners like MSMEDA, Anava Fund, and various development finance institutions, showcasing global interest in African startups.
Idris Ayo Bello highlights the evolution of Africa’s tech landscape, confirming LoftyInc's commitment to diversify investment beyond fintech amid the current funding slowdown.
Bello's firm has successfully transitioned from a pre-seed vehicle to a structured venture fund, demonstrating adaptability and growth in the volatile investment environment.
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