Tech start-ups are receiving significant attention from investors. The IFC is no exception to the rule. It could once again support the sector.
The International Finance Corporation (IFC), the branch of the World Bank in charge of the private sector in developing countries, is considering a possibility of providing an additional $ 10 million for start-ups in Africa.
The institution should soon decide whether it will participate in the financing of the second fund of the firm TLcom Capital dedicated to this purpose.
This new fund aims to launch early stage investments for the benefit of technology start-ups in East and West Africa. The financial technology, electronic logistics, electronic supply chain, and health technology products and services sectors will be of particular interest to this fund.
We may have to wait until June to find out what the IFC’s decision is. Beyond providing support to start-ups, TLcom Capital’s TideAfrica fund, which is based in London, is above all profitable.
It is estimated that the firm’s first fund of $ 71 million could yield nearly three times the initial stake. Its investment amounts range from $ 500,000 to $ 10 million.