LoftyInc Capital Management Announces $43 Million First Close for LoftyInc Alpha Fund to Support African Tech Startups
LoftyInc Capital Management has announced the first close of $43 million for its new LoftyInc Alpha Fund, aimed at supporting African tech startups in the advanced growth stage. This fund seeks to accompany the growth of emerging businesses in key markets such as Nigeria, Egypt, Kenya, and Francophone Africa.
Building on the experience of LoftyInc's previous funds, the Alpha Fund targets high-growth sectors such as financial services, healthcare, logistics, climate tech, and artificial intelligence. Its objective is to help entrepreneurs build resilient and scalable businesses while strengthening the African tech ecosystem.
This first close has attracted a diverse range of institutional and private investors, including sovereign funds such as the Anava Fund of Funds (Tunisia) and the Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA), as well as development financial institutions like FMO, Proparco, and the International Finance Corporation (IFC).
In addition to institutional partners, the fund has received support from European and African family offices, as well as several private investors, demonstrating the confidence of regional and international actors in the potential of African tech.
