{"id":41084,"date":"2025-03-05T16:32:45","date_gmt":"2025-03-05T13:32:45","guid":{"rendered":"https:\/\/entarabi.com\/?p=41084"},"modified":"2025-03-05T16:44:08","modified_gmt":"2025-03-05T13:44:08","slug":"loftyinc-capital-secures-43m-first-close-for-new-pan-african-seed-fund","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2025\/03\/loftyinc-capital-secures-43m-first-close-for-new-pan-african-seed-fund\/","title":{"rendered":"LoftyInc Capital Secures $43M First Close for New Pan-African Seed Fund"},"content":{"rendered":"<ul data-start=\"24\" data-end=\"639\">\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"24\" data-end=\"237\"><strong data-start=\"26\" data-end=\"57\">LoftyInc Capital Management<\/strong> announces <strong data-start=\"68\" data-end=\"95\">$43 million first close<\/strong> for <strong data-start=\"100\" data-end=\"123\">LoftyInc Alpha Fund<\/strong>, a <strong data-start=\"127\" data-end=\"157\">Pan-African late-seed fund<\/strong> targeting tech startups in <strong data-start=\"185\" data-end=\"234\">Nigeria, Egypt, Kenya, and Francophone Africa<\/strong>.<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"238\" data-end=\"452\">The fund attracted backing from <strong data-start=\"272\" data-end=\"356\">sovereign wealth funds, development financial institutions, and global investors<\/strong>, including <strong data-start=\"368\" data-end=\"449\">IFC, FMO, Proparco, AfricaGrow, Anava Fund of Funds, and First Close Partners<\/strong>.<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"453\" data-end=\"639\">The Alpha Fund will <strong data-start=\"475\" data-end=\"586\">support high-growth sectors such as fintech, retail enablement, logistics, healthcare, climate tech, and AI<\/strong>, strengthening Africa\u2019s venture capital ecosystem.<\/li>\n<\/ul>\n<p dir=\"ltr\" data-start=\"728\" data-end=\"1147\"><strong data-start=\"728\" data-end=\"745\">March 5, 2025<\/strong> \u2013 <strong data-start=\"748\" data-end=\"779\">LoftyInc Capital Management<\/strong> has successfully raised <strong data-start=\"804\" data-end=\"819\">$43 million<\/strong> in the <strong data-start=\"827\" data-end=\"842\">first close<\/strong> of its new <strong data-start=\"854\" data-end=\"877\">LoftyInc Alpha Fund<\/strong>, a <strong data-start=\"881\" data-end=\"921\">late-seed stage venture capital fund<\/strong> dedicated to <strong data-start=\"935\" data-end=\"984\">scaling Africa\u2019s most promising tech startups<\/strong>. The fund will focus on <strong data-start=\"1009\" data-end=\"1058\">Nigeria, Egypt, Kenya, and Francophone Africa<\/strong>, reinforcing <strong data-start=\"1072\" data-end=\"1086\">LoftyInc\u2019s<\/strong> position as a leading investor in Africa\u2019s tech ecosystem.<\/p>\n<h2 dir=\"ltr\" data-start=\"1149\" data-end=\"1209\"><span style=\"font-size: 14pt;\"><strong data-start=\"1153\" data-end=\"1207\">A Legacy of Early-Stage Tech Investments in Africa<\/strong><\/span><\/h2>\n<p dir=\"ltr\" data-start=\"1210\" data-end=\"1631\">As one of <strong data-start=\"1220\" data-end=\"1270\">Africa\u2019s earliest and most successful VC firms<\/strong>, <strong data-start=\"1272\" data-end=\"1284\">LoftyInc<\/strong> has backed industry-defining startups such as <strong data-start=\"1331\" data-end=\"1419\">Flutterwave, Andela, Wave Mobile Money, RelianceHealth, Thndr, OmniRetail, and Moove<\/strong>. With over <strong data-start=\"1431\" data-end=\"1457\">a decade of experience<\/strong>, the firm has played a pivotal role in <strong data-start=\"1497\" data-end=\"1538\">Africa\u2019s growing innovation landscape<\/strong>, delivering strong returns while supporting the continent\u2019s most innovative entrepreneurs.<\/p>\n<p dir=\"ltr\" data-start=\"1633\" data-end=\"2017\">The <strong data-start=\"1637\" data-end=\"1660\">LoftyInc Alpha Fund<\/strong> is built on insights gained from <strong data-start=\"1694\" data-end=\"1726\">previous investment vehicles<\/strong> and will focus on <strong data-start=\"1745\" data-end=\"1869\">scalable business models in fintech, retail enablement, logistics, healthcare, climate tech, and artificial intelligence<\/strong>. By <strong data-start=\"1874\" data-end=\"1928\">bridging funding gaps for late-seed stage startups<\/strong>, the fund aims to <strong data-start=\"1947\" data-end=\"1986\">foster long-term sustainable growth<\/strong> in Africa\u2019s digital economy.<\/p>\n<h2 dir=\"ltr\" data-start=\"2019\" data-end=\"2074\"><span style=\"font-size: 14pt;\"><strong data-start=\"2023\" data-end=\"2072\">Strategic Investors and Institutional Backing<\/strong><\/span><\/h2>\n<p dir=\"ltr\" data-start=\"2075\" data-end=\"2246\">The first close of the Alpha Fund attracted an impressive mix of <strong data-start=\"2140\" data-end=\"2232\">sovereign wealth funds, development financial institutions (DFIs), and private investors<\/strong>, including:<\/p>\n<ul dir=\"ltr\" data-start=\"2248\" data-end=\"2932\">\n<li data-start=\"2248\" data-end=\"2429\">\n<p data-start=\"2250\" data-end=\"2306\">Middle Eastern and African Sovereign Wealth Funds:<\/p>\n<ul data-start=\"2309\" data-end=\"2429\">\n<li data-start=\"2309\" data-end=\"2389\">Egypt\u2019s Micro, Small, and Medium Enterprises Development Agency (MSMEDA)<\/li>\n<li data-start=\"2392\" data-end=\"2429\">Tunisia\u2019s Anava Fund of Funds<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"2431\" data-end=\"2694\">\n<p data-start=\"2433\" data-end=\"2453\">DFI Investors:<\/p>\n<ul data-start=\"2456\" data-end=\"2694\">\n<li data-start=\"2456\" data-end=\"2508\">FMO (Dutch Entrepreneurial Development Bank)<\/li>\n<li data-start=\"2511\" data-end=\"2548\">Dutch Good Growth Fund (DGGF)<\/li>\n<li data-start=\"2551\" data-end=\"2578\">Proparco with FISEA<\/li>\n<li data-start=\"2581\" data-end=\"2644\">AfricaGrow (Allianz Global Investors &amp; DEG Impact GmbH)<\/li>\n<li data-start=\"2647\" data-end=\"2694\">International Finance Corporation (IFC)<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"2696\" data-end=\"2932\">\n<p data-start=\"2698\" data-end=\"2740\">Private and Institutional Investors:<\/p>\n<ul data-start=\"2743\" data-end=\"2932\">\n<li data-start=\"2743\" data-end=\"2842\">First Close Partners (a U.S.-based family office supporting underrepresented fund managers)<\/li>\n<li data-start=\"2845\" data-end=\"2876\">European family offices<\/li>\n<li data-start=\"2879\" data-end=\"2932\">High-net-worth individuals (HNIs) from Africa<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p dir=\"ltr\" data-start=\"2934\" data-end=\"3095\">These investors share a <strong data-start=\"2958\" data-end=\"2975\">common vision<\/strong>: accelerating Africa\u2019s <strong data-start=\"2999\" data-end=\"3017\">tech ecosystem<\/strong> by supporting <strong data-start=\"3032\" data-end=\"3057\">venture capital funds<\/strong> that drive economic transformation.<\/p>\n<h2 dir=\"ltr\" data-start=\"3097\" data-end=\"3152\"><span style=\"font-size: 14pt;\"><strong data-start=\"3101\" data-end=\"3150\">LoftyInc\u2019s Leadership and Investment Strategy<\/strong><\/span><\/h2>\n<p dir=\"ltr\" data-start=\"3153\" data-end=\"3374\"><strong data-start=\"3153\" data-end=\"3183\">LoftyInc\u2019s leadership team<\/strong>, comprised of <strong data-start=\"3198\" data-end=\"3238\">Managing Partner Idris Ayodeji Bello<\/strong>, <strong data-start=\"3240\" data-end=\"3272\">General Partner Mariam Kamel<\/strong>, and <strong data-start=\"3278\" data-end=\"3311\">General Partner Kevin Simmons<\/strong>, brings decades of <strong data-start=\"3331\" data-end=\"3371\">operational and investment expertise<\/strong>.<\/p>\n<ul dir=\"ltr\" data-start=\"3376\" data-end=\"3700\">\n<li data-start=\"3376\" data-end=\"3485\"><strong data-start=\"3378\" data-end=\"3401\">Idris Ayodeji Bello<\/strong> has backed <strong data-start=\"3413\" data-end=\"3452\">over 100 startups across 25 markets<\/strong>, with <strong data-start=\"3459\" data-end=\"3482\">14 successful exits<\/strong>.<\/li>\n<li data-start=\"3486\" data-end=\"3594\"><strong data-start=\"3488\" data-end=\"3504\">Mariam Kamel<\/strong> has a background in <strong data-start=\"3525\" data-end=\"3591\">investment banking, startup advisory, and MENA venture capital<\/strong>.<\/li>\n<li data-start=\"3595\" data-end=\"3700\"><strong data-start=\"3597\" data-end=\"3614\">Kevin Simmons<\/strong> brings experience as a <strong data-start=\"3638\" data-end=\"3697\">founder, operator, and investor across three continents<\/strong>.<\/li>\n<\/ul>\n<p dir=\"ltr\" data-start=\"3702\" data-end=\"3897\">Their collective expertise ensures <strong data-start=\"3737\" data-end=\"3811\">the Alpha Fund will not only provide funding but also hands-on support<\/strong>, helping founders <strong data-start=\"3830\" data-end=\"3894\">scale their ventures and navigate Africa\u2019s startup ecosystem<\/strong>.<\/p>\n<h2 dir=\"ltr\" data-start=\"3899\" data-end=\"3953\"><span style=\"font-size: 14pt;\"><strong data-start=\"3903\" data-end=\"3951\">Investor Perspectives on LoftyInc Alpha Fund<\/strong><\/span><\/h2>\n<p dir=\"ltr\" data-start=\"3954\" data-end=\"3997\"><strong data-start=\"3954\" data-end=\"3994\">Managing Partner Idris Ayodeji Bello<\/strong>:<\/p>\n<blockquote dir=\"ltr\" data-start=\"3998\" data-end=\"4393\">\n<p data-start=\"4000\" data-end=\"4393\">\u201cOur previous funds were backed primarily by African professionals and experienced entrepreneurs who leveraged their networks to help startups thrive. Surpassing our first-close target in a challenging fundraising environment demonstrates strong investor confidence. This fund enables us to continue empowering Afropreneurs who are building transformative, tech-driven solutions for Africa.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\" data-start=\"4395\" data-end=\"4430\"><strong data-start=\"4395\" data-end=\"4427\">General Partner Mariam Kamel<\/strong>:<\/p>\n<blockquote dir=\"ltr\" data-start=\"4431\" data-end=\"4696\">\n<p data-start=\"4433\" data-end=\"4696\">\u201cThis fund is a testament to our commitment to backing transformative businesses across the continent. We are proud to reach this milestone, supported by investors who believe in our vision of identifying category leaders that will drive innovation and impact.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\" data-start=\"4698\" data-end=\"4734\"><strong data-start=\"4698\" data-end=\"4731\">General Partner Kevin Simmons<\/strong>:<\/p>\n<blockquote dir=\"ltr\" data-start=\"4735\" data-end=\"4959\">\n<p data-start=\"4737\" data-end=\"4959\">\u201cThis is an exciting vehicle for African technology. We are investing in high-growth businesses, and we have designed this fund to <strong data-start=\"4868\" data-end=\"4914\">co-build these ventures alongside founders<\/strong>, ensuring they achieve sustainable scale.\u201d<\/p>\n<\/blockquote>\n<h2 dir=\"ltr\" data-start=\"4961\" data-end=\"5009\"><span style=\"font-size: 14pt;\"><strong data-start=\"4965\" data-end=\"5007\">Institutional Endorsements and Support<\/strong><\/span><\/h2>\n<p dir=\"ltr\" data-start=\"5010\" data-end=\"5041\"><strong data-start=\"5010\" data-end=\"5038\">Marieke Roestenberg, FMO<\/strong>:<\/p>\n<blockquote dir=\"ltr\" data-start=\"5042\" data-end=\"5250\">\n<p data-start=\"5044\" data-end=\"5250\">\u201cLoftyInc has demonstrated deep local expertise and strong networks across Africa. We are excited to support its efforts to institutionalize its VC platform and drive tech entrepreneurship in the region.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\" data-start=\"5252\" data-end=\"5276\"><strong data-start=\"5252\" data-end=\"5273\">Farid Fezoua, IFC<\/strong>:<\/p>\n<blockquote dir=\"ltr\" data-start=\"5277\" data-end=\"5534\">\n<p data-start=\"5279\" data-end=\"5534\">\u201cThis investment will provide <strong data-start=\"5309\" data-end=\"5365\">seed-stage equity financing to African tech startups<\/strong>, including underserved markets like <strong data-start=\"5402\" data-end=\"5424\">Francophone Africa<\/strong>. The Alpha Fund will help develop Africa\u2019s VC ecosystem and create a pipeline for later-stage investments.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\" data-start=\"5536\" data-end=\"5563\"><strong data-start=\"5536\" data-end=\"5560\">First Close Partners<\/strong>:<\/p>\n<blockquote dir=\"ltr\" data-start=\"5564\" data-end=\"5821\">\n<p data-start=\"5566\" data-end=\"5821\">\u201cLoftyInc\u2019s pioneering ecosystem cultivation, deep founder network, and diverse team made it an attractive investment. We believe LoftyInc is well-positioned to capitalize on Africa\u2019s <strong data-start=\"5750\" data-end=\"5817\">high-growth entrepreneurial ecosystem and attractive valuations<\/strong>.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\" data-start=\"5823\" data-end=\"5850\"><strong data-start=\"5823\" data-end=\"5847\">Orsolya Farkas, DGGF<\/strong>:<\/p>\n<blockquote dir=\"ltr\" data-start=\"5851\" data-end=\"6119\">\n<p data-start=\"5853\" data-end=\"6119\">\u201cLoftyInc\u2019s ability to identify and nurture early-stage companies aligns with our mission of <strong data-start=\"5946\" data-end=\"5996\">fostering entrepreneurship in emerging markets<\/strong>. This investment reflects our commitment to sustainable development and creating opportunities for African tech talent.\u201d<\/p>\n<\/blockquote>\n<h2 dir=\"ltr\" data-start=\"6121\" data-end=\"6153\"><span style=\"font-size: 14pt;\"><strong data-start=\"6125\" data-end=\"6151\">About LoftyInc Capital<\/strong><\/span><\/h2>\n<p dir=\"ltr\" data-start=\"6154\" data-end=\"6463\">Founded in <strong data-start=\"6165\" data-end=\"6173\">2017<\/strong>, <strong data-start=\"6175\" data-end=\"6195\">LoftyInc Capital<\/strong> is a <strong data-start=\"6201\" data-end=\"6237\">Pan-African venture capital firm<\/strong> co-founded by <strong data-start=\"6252\" data-end=\"6312\">LoftyInc Allied Partners Limited (LAPL) and Marsha Wulff<\/strong>. The firm has played a pioneering role in Africa\u2019s <strong data-start=\"6364\" data-end=\"6390\">tech startup ecosystem<\/strong>, supporting <strong data-start=\"6403\" data-end=\"6452\">local tech hubs and angel investment networks<\/strong> such as:<\/p>\n<ul dir=\"ltr\" data-start=\"6464\" data-end=\"6594\">\n<li data-start=\"6464\" data-end=\"6501\">Afropreneur Angel Group (AAG)<\/li>\n<li data-start=\"6502\" data-end=\"6529\">Lagos Angel Network<\/li>\n<li data-start=\"6530\" data-end=\"6594\">Wennovation Hub (Nigeria\u2019s leading incubator since 2010)<\/li>\n<\/ul>\n<p dir=\"ltr\" data-start=\"6596\" data-end=\"6802\">Through its <strong data-start=\"6608\" data-end=\"6626\">previous funds<\/strong>, LoftyInc has:<br data-start=\"6641\" data-end=\"6644\" \/>&#8211; Invested in hundreds of African tech entrepreneurs<br data-start=\"6700\" data-end=\"6703\" \/>&#8211; Created economic opportunities for millions<br data-start=\"6752\" data-end=\"6755\" \/>&#8211; Delivered top-tier returns to investors<\/p>\n<p dir=\"ltr\" data-start=\"6804\" data-end=\"7014\" data-is-last-node=\"\" data-is-only-node=\"\">With <strong data-start=\"6809\" data-end=\"6832\">LoftyInc Alpha Fund<\/strong>, the firm is <strong data-start=\"6846\" data-end=\"6886\">scaling its operations across Africa<\/strong>, continuing its mission to <strong data-start=\"6914\" data-end=\"6949\">empower groundbreaking startups<\/strong> and solidify <strong data-start=\"6963\" data-end=\"7013\">Africa\u2019s position in the global tech landscape<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LoftyInc Capital Management announces $43 million first close for LoftyInc Alpha Fund, a Pan-African late-seed fund targeting tech startups in Nigeria, Egypt, Kenya, and Francophone Africa. The fund attracted backing from sovereign wealth funds, development financial institutions, and global investors, including IFC, FMO, Proparco, AfricaGrow, Anava Fund of Funds, and First Close Partners. The Alpha [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":41092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810],"tags":[7451],"class_list":["post-41084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-loftyinc-capital"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/41084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=41084"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/41084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/41092"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=41084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=41084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=41084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}