Tech in Africa
LoftyInc Capital Management Inc is an early-stage Africa-focussed technology fund that has achieved the first close of its LoftyInc Afropreneur Fund 3 that attracted heavy participation from African High Net Worth Individuals and Millenials, startup founders, and other institutions.
The LoftyInc Afropreneur Fund 3 is a $10 million fund that comes off the success of the LoftyInc Afropreneurs Fund 2 (LAF2) which made its first unicorn exit through the investment in Flutterwave. As a technology fund LAF3 will invest in Seed-to-Series A tech-driven companies that are building the future for Africa’s digital infrastructure while banking on strong local and regional support.
Founding Partner at LCM, Idris Ayodeji Bello expressed excitement on the “strong investment participation among young Africans and founders.”
To date, LAF3 has invested in 25 companies across the sectors of e-commerce, media, fintech, logistics, and healthcare. As a pan-African fund, the investment focus is primarily fixated on hypergrowth ecosystems such as Egypt, Nigeria, Francophone Africa, and other promising tech solutions from the larger African diaspora. Initial check sizes are at $50,000–$250,000, accompanied by follow-ons of up to $1M in the portfolio companies.
LoftyInc Capital Management is led by a team with 70 plus years in combined venture operational experience in addition to a strong 11-year track record. It is run by general partners Idris Bello, Michael Oluwagbemi, and Marsha Wulff, who all carry 12 plus tears of experience investing in Africa and the diaspora.
Besides this team, LoftyInc has an extensive on-the-ground network of local, multi-sector expertise fixated on pre-investment pipeline screening and accompanied by due diligence. This local expertise closely collaborates with international venture partners in unlocking high-value post-investment portfolio support.
