💵LoftyInc Capital raises $43M to bridge Africa’s series A Gap
Africa’s startup scene just got a big boost! LoftyInc Capital, one of the continent’s most active VC firms, has secured $43 million in the first close of its third fund, LoftyInc Alpha.
🌍 Why This Matters:
For over a decade, LoftyInc has backed early-stage African startups, making early bets on unicorns like Flutterwave, Andela, and Wave. But the firm is now shifting focus: late-seed and Series A funding - a critical gap in Africa’s investment ecosystem.
According to a recent Partech report, Series A funding in Africa saw an 18% drop in average ticket size in 2023, making it harder for promising startups to scale. While pre-seed and seed investments are still thriving, many startups struggle to reach the next level. LoftyInc aims to change that.
💰The Fund’s Focus:
✔️ Investing $1M-$5M in 20-25 startups
✔️ Supporting Nigeria, Egypt, Kenya & Francophone Africa
✔️ Key sectors: Fintech, logistics, health tech, retail, climate, deep tech & AI
✔️Backed by major investors, including Meta, IFC, FMO, Proparco, and sovereign wealth funds from Africa and the Middle East
🏆 More Than Just Capital:
LoftyInc isn’t just writing checks. With 200+ investments and 14 exits, the firm provides:
✅ Market access to help startups scale
✅ Business development support to refine strategy
✅ Investor matchmaking to secure future funding rounds
LoftyInc has already invested in some of Africa’s biggest rising stars, including:
🚗 Moove (Uber-backed vehicle financing)
😀 Thndr (Egypt’s Robinhood-style trading app)
🛒 OmniRetail (B2B e-commerce)
By helping startups bridge the funding gap, LoftyInc is paving the way for Africa’s next generation of unicorns.
Will this be the fund that launches the continent’s next big success story?
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