LoftyInc Capital Management, one of Africa’s most active investors, has reached the first close of its third fund, LoftyInc Alpha, at $43 million. The fund will target late-seed and Series A startups in key African markets.
The firm has expanded its leadership team, bringing in Mariam Kamel and Kevin Simmons as general partners. About 30% of the fund will be allocated to startups in East Africa, North Africa, and Francophone Africa.
LoftyInc Alpha will focus on Africa’s “everyday economy,” including sectors like fintech, logistics, health tech, retail, climate, and deep tech. The firm’s portfolio companies include Moove, Thndr, and OmniRetail.
Idris Ayo Bello, Founder and Managing Partner, said, “Our goal is to come in at seed, but our mandate is to help you get to Series A. We want to be the firm that gets startups over that hump.”
The investment will provide seed-stage equity financing to tech startups across Africa, helping to develop the venture capital ecosystem and create a pipeline of investment projects.
