TIDE Africa Fund (IFC-42091)

Countries
  • Kenya
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 27, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
TLCOM CAPITAL LLP
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 6.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 6.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 22, 2019

Disclosed by Bank Feb 15, 2019


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Project Description

IFC is considering an equity investment of upto US$6 million in TIDE Africa Fund (“TIDE”). TIDE is an Africa-focused venture capital fund making investments in early to growth stage tech and tech-enabled companies in SSA, investing between US$0.5 million and US$8 million with a particular emphasis on Series A and Series B financing rounds. Majority of TIDE’s investments will be concentrated in Anglophone Africa: Kenya, Nigeria, Ghana and South Africa, and the remaining allocation will be deployed in other Western, Eastern and Southern African countries, with a sectoral focus on consumer services, financial services, and enterprise technologies. TIDE has already made investments in five high growth digital companies in Kenya and Nigeria. TIDE Africa reached first close at US$40 million in July 2017 and is expecting to get to final close by June 2019. Anchor investors include: European Investment Bank, Africa Development Bank, Proparco and Thrive Charitable Remainder Trust. TIDE is managed by a team of four investment professionals, led by Maurizio Caio with on-the-ground presence in Sub-Saharan Africa.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • TIDE Africa Fund -- Implementing Company

TIDE is an Africa-focused venture capital fund making investments in early to growth stage tech and tech-enabled companies in SSA, investing between US$0.5 million and US$8 million with a particular emphasis on Series A and Series B financing rounds. Majority of TIDE’s investments will be concentrated in Anglophone Africa: Kenya, Nigeria, Ghana and South Africa, and the remaining allocation will be deployed in other Western, Eastern and Southern African countries, with a sectoral focus on consumer services, financial services, and enterprise technologies. TIDE has already made investments in five high growth digital companies in Kenya and Nigeria.

TIDE Africa reached first close at US$40 million in July 2017 and is expecting to get to final close by June 2019. Anchor investors include: European Investment Bank, Africa Development Bank, Proparco and Thrive Charitable Remainder Trust.

TIDE is managed by a team of four investment professionals, led by Maurizio Caio with on-the-ground presence in Sub-Saharan Afric

Contact Information

Company: TIDE Africa Fund

Point of Contact: Maurizio Caio

Title: Managing Partner

Telephone: +254 719 723 433

Email: info-ke@tlcomcapital.com

Mailing Address: Chaka Place Argwings Kodhek Road, Nairobi, (Kenya)

Website: http://www.tlcomcapital.com/

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