LoftyInc Capital Management , a leading pan-African venture capital firm, has announced the first close of its LoftyInc Alpha Fund, securing $43 million. This late-seed investment fund is dedicated to fostering the growth of Africa’s emerging tech startups, with a primary focus on key markets such as Nigeria, Egypt, Kenya, and regions within Francophone Africa.
The fund has drawn support from a diverse range of investors, including sovereign wealth funds, development finance institutions (DFIs), U.S. family offices, and regional investment organizations. Among its notable backers are Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA), Tunisia’s Anava Fund of Funds, FMO (the Dutch Entrepreneurial Development Bank), Proparco with FISEA, the International Finance Corporation (IFC), AfricaGrow (advised by DEG Impact GmbH), the Dutch Good Growth Fund (DGGF), and U.S.-based First Close Partners.
LoftyInc intends to allocate at least 30% of the fund to East Africa, North Africa, and Francophone Africa while maintaining a sector-agnostic investment strategy. The firm is targeting companies operating in health tech, retail, deep tech, and artificial intelligence.
The leadership team at LoftyInc brings a wealth of experience to the fund. Managing Partner Idris Ayodeji Bello has backed more than 100 startups across 25 markets, securing 14 successful exits. General Partners Mariam Kamel and Kevin Simmons add expertise in investment banking, startup advisory, and operational management across multiple continents.
This strategic initiative highlights LoftyInc’s dedication to fostering innovation and strengthening Africa’s position in the global technology ecosystem.
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