LoftyInc Capital Management Announces First Close Of US$10 Million LoftyInc Afropreneurs Fund 3
The Nigerian VC firm is ramping up its activity in the startup space across the continent
LoftyInc Capital Management has announced the first close of its US$10 million LoftyInc Afropreneurs Fund 3 (LAF3), as it seriously scales up its activity in the startup space across the continent.
The venture capital firm said its on a mission to build an ecosystem of Africans investing in Africans solving African problems. The firm has made over 60 investments, 35 of which have taken place in the last year.
This comes after the first “unicorn exit” via the LoftyInc Afropreneurs Fund 2 (LAF2) investment in Flutterwave, and providing substantial returns to its investors. LAF3 is a US$10 million technology fund investing in seed-to-Series A technology-enabled companies, that are building the rails for Africa’s digital infrastructure, and are poised to experience rapid growth.
Idris Bello, LoftyInc Capital Managing Partner said: “We are excited by the strong investment participation of young Africans and founders across the continent and the diaspora. This participation fulfills our mission of not just building an ecosystem of founders making a positive impact, but also an ecosystem of Africans investing in Africans solving African problems.”