LoftyInc Capital Management has announced a $43 million first close for its LoftyInc Alpha Fund, focusing on late-seed investments in high-growth tech startups across Africa. The Pan-African venture capital firm will target key markets such as Nigeria, Egypt, Kenya, and Francophone Africa, driving innovation and fostering tech-driven solutions to address Africa’s everyday economic challenges.
Managing Partner Idris Ayodeji Bello emphasized that previous funds had been supported by African professionals and entrepreneurs, which contributed to establishing a strong investment approach. The Alpha Fund aims to scale this vision by empowering “Afropreneurs” and helping them build resilient, tech-driven companies. LoftyInc has a proven track record, having invested early in successful startups such as Flutterwave, Andela, and Wave Mobile Money, contributing to the growth of Africa’s tech ecosystem.
The Alpha Fund will prioritize seed investments in sectors including financial services, retail enablement, logistics, healthcare, climate tech, and artificial intelligence, all of which reflect the diverse opportunities across the continent.
The first close attracted a diverse group of investors, including Middle Eastern and African sovereign wealth funds such as Egypt’s MSMEDA and Tunisia’s Anava Fund of Funds, as well as international development financial institutions (DFIs) like FMO, Proparco, and IFC. The Fund also saw participation from returning limited partners and several African high-net-worth individuals and European family offices, signaling strong alignment in the vision for Africa’s tech future.
With a team rich in operational and investment expertise, LoftyInc aims to continue its work in advancing Africa’s digital economy, with a focus on supporting scalable, transformative businesses across the continent.
About LoftyInc Capital Management
LoftyInc Capital Management is a Pan-African venture capital firm with a focus on high-growth tech startups across Africa. With a proven track record of successful investments, LoftyInc supports entrepreneurs and drives innovation in the tech ecosystem.
