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Equity investment in Tide Africa Fund II
Project
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Signature date
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Location
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South Africa, Egypt, Kenya, Nigeria, Multi-country Africa
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Financing tool
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Financing amount (Euro)
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9100000
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Financing details
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USD 10m Equity Investment
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Customer
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Tide Africa Fund II LP
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Type of customer
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Investment fund
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Country of headquarters
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Mauritius
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Project number
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PZZ1575
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Environmental and social ranking
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IF-B
This information is given at the time of signature, without prejudice to any developments in the operation/project.
By investing in this fund, Proparco is contributing to supporting companies in Africa.
Client presentation
TLcom Capital is a venture capital fund manager, mainly operating in Africa with experience in Europe, Israel and the USA.
Project description
The investment strategy of TIDE Africa Fund II (TAF II) is in line with the strategy of TIDE Africa Fund (TAF I) in terms of the investment stages (majority seed and Series A), investment themes, ticket sizes and role of lead/ co-lead.
Project impact
The fund will contribute to the development of the venture capital market in Africa and will support the development and growth of about 15 companies, including 12 SMEs and 3 start-ups. By 2026, the fund will contribute to maintaining some 1,000 jobs and creating some 900 jobs in the investee companies. Women are expected to account for about 30% of employment in these companies.
The fund will thereby contribute to the achievement of SDG 8 (“Decent work and economic growth”).