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    Tuesday, September 23
    Omobola Johnson

    Omobola Johnson joins TLCom Capital, announces $100m funding for African startups

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    By on Exclusive, News, People, Startups

    Nigeria’s immediate past communication technology minister, Dr. (Mrs) Omobola Johnson has joined TLCom Capital as partner, she revealed this while speaking at DEMO Africa 2015.

    TLcom Capital LLP is a London and Nairobi based Venture Capital firm investing since 1999 in Telecom, Media and Technology (TMT) companies. It is a Venture Capital that does Early Stage Venture and Later Stage Venture Investments.

    The capital has invested in companies across Europe and Israel, and now focusing on technologies for developing markets with its newly launched TLcom TIDE Africa Fund. TLcom currently manages total commitments of approximately 225M EUR, including the TLcom I fund (2000 vintage), the TLcom II (2007 vintage) and three secondary funds. TLcom TIDE Africa Fund (Technology and Innovation for Developing Economies) has a final target size of 100M USD.

    According to Johnson, TLCom is planning to invest $100 million in African startups. Additional information gotten on TLCom’s website revealed TLcom is raising the TLcom TIDE Africa Fund,the first international venture capital fund focused exclusively on technology enabled services and innovation for Sub Saharan Africa (SSA) across all stages of the venture capital cycle. It will make equity investments into fast growth entrepreneurs and enterprises leveraging technology and innovation to serve the SSA market, with either the potential to scale globally, or the ability to profitably serve customers at the Base of the economic Pyramid (BoP), which continue to represent the vast majority of consumer demand in the region and in other developing economies.
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