LoftyInc Capital Launches Third Fund for African Startups
- LoftyInc Capital launches third fund, LoftyInc Alpha, with $43M first close
- Focus on late-seed and Series A startups in Africa
- Aims to address funding gap at late-seed stage
- Investment strategy centered around 'everyday economy' sectors
- Expanded leadership team with new general partners
Introduction to LoftyInc Capital
LoftyInc Capital, one of Africa's most active investors, has launched its third fund, LoftyInc Alpha, with a first close of $43 million. The firm has been investing in African startups for over a decade and has backed notable companies like Flutterwave, Andela, and Wave.
The new fund will target late-seed and Series A startups, marking a shift from the firm's earlier focus on pre-seed and seed stages. LoftyInc Capital aims to address the funding gap that exists at the late-seed stage, where startups need structured support to scale and secure Series A capital.
Investment Strategy
LoftyInc Capital's investment strategy is centered around backing innovations that drive Africa's 'everyday economy'. The firm will focus on sectors like financial services, logistics and transport, healthtech, retail, climate, and deep tech and AI. With its third fund, LoftyInc Capital is poised to make a significant impact on Africa's startup ecosystem.
The firm has expanded its leadership team with the addition of Mariam Kamel and Kevin Simmons as general partners. They will apply their investment banking, angel investing, and operational VC experience to help deepen the firm's presence in Africa's east, north, and Francophone regions.