LoftyInc Capital Secures $43 Million for Africa’s Emerging Tech Startups
- LoftyInc Capital Management announced the first close of its LoftyInc Alpha Fund, securing $43 million.
- The fund focuses on fostering growth in Africa's emerging tech startups, particularly in Nigeria, Egypt, Kenya, and Francophone Africa.
- It has received backing from a variety of investors, including sovereign wealth funds and development finance institutions.
The establishment of the LoftyInc Alpha Fund is a significant step towards enhancing the entrepreneurial ecosystem in Africa. By focusing on diverse sectors and regions, LoftyInc is not only addressing the funding gap but also promoting innovation that could lead to sustainable economic growth across the continent. This initiative could serve as a model for other venture capital firms looking to invest in emerging markets.
