LoftyInc Capital, a well-established venture capital company in Africa, stated that its third fund had closed on $43 million and recorded its first close. Early-stage companies in Africa, particularly seed and Series A companies, will be the target of the new fund. With this milestone, LoftyInc Capital is optimistic that it will be able to continue its mission of empowering high-growth companies that are transforming African technology and innovation.
Enhancing the Startup Ecosystem in Africa
LoftyInc Capital is proud to be a pioneer of innovation in Africa’s venture capital ecosystem through funding of technology and economic transformation ventures. With in-house expertise extending from e-commerce, logistics, and healthtech to finance, the company has backed some of Africa’s highest-quality businesses. The new fund will pursue this approach, making investments in scalable, growth-minded firms that target the most pressing problems of Africa. The $43 million first close is just one part of an overall target for fundraising, and LoftyInc anticipates making further commitments from development finance institutions, family offices, and institutions. One of the pillars of the investment approach of the firm is to allow founders to use technology in order to build innovative solutions applicable to the African context. Through seed and Series A investments in such firms, LoftyInc hopes to fill the financial gap and drive expansion in Africa’s startup ecosystem.
A Track Record of Proven Investments
LoftyInc Capital has been a leading player in the African venture capital market because of its early investments in some of the most prestigious companies like Flutterwave, Andela, and Reliance Health. The company’s initial investment has helped other business ventures to grow throughout Africa, raise more capital, and advance their businesses. Continuing that legacy, this third fund is LoftyInc’s ongoing commitment to developing innovation and backing the next generation of African founders. VC backers like LoftyInc are instrumental in providing the necessary capital and expertise in the wake of growing fast-paced digital development and growing technology-driven solutions in Africa. With the first close of its third fund, LoftyInc Capital is well equipped to continue sponsoring innovative businesses and provide long-term expansion in the African tech space.
