LoftyInc Capital Management has announced the first close of its $43 million LoftyInc Alpha Fund, a late-seed investment vehicle designed to accelerate Africa’s most promising tech startups. This milestone underscores the firm’s reputation as one of Africa’s most experienced venture capital firms, with over a decade of investments in game-changing startups, including Flutterwave, Andela, Wave Mobile Money, Moove, and RelianceHealth.
Managing Partner Idris Ayodeji Bello, a seasoned investor and entrepreneur, has played a pivotal role in shaping Africa’s tech investment landscape. Featured in Techsoma’s Investing in Africa as a Beginner report, Bello provided valuable insights into the continent’s investment climate and the strategic role of venture capital in Africa’s startup ecosystem.
Middle East Investors Join LoftyInc to Power African Innovation
With investments spanning Nigeria, Egypt, Kenya, and Francophone Africa, LoftyInc Capital’s Alpha Fund will focus on financial services, retail enablement, logistics, healthcare, climate tech, and artificial intelligence. By targeting late-seed companies, the fund aims to bridge the crucial gap between early-stage funding and scalable growth, providing startups with the capital and strategic guidance needed to expand into dominant market players.
The Alpha Fund’s first close has attracted an impressive array of global investors, including Middle Eastern sovereign wealth funds and African financial institutions. Investors such as Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA), Tunisia’s Anava Fund of Funds, and other regional stakeholders have contributed to strengthening Africa’s VC landscape. Development finance institutions including the International Finance Corporation (IFC), FMO, Proparco, and Allianz-backed AfricaGrow have also committed to the fund, signaling growing global confidence in LoftyInc’s vision.
A Strategic Partnership Between Africa and the Middle East
The collaboration between African and Middle Eastern investors reflects a growing recognition of Africa as a frontier for tech innovation. Middle Eastern funds have been increasingly looking toward African markets for expansion, recognizing the continent’s potential in fintech, e-commerce, and logistics. With LoftyInc’s Alpha Fund acting as a bridge between investors and startups, the partnership is set to drive transformational impact in the African tech landscape.
LoftyInc’s Legacy: Empowering Afropreneurs
Since its founding, LoftyInc Capital has been committed to backing Afropreneurs—African entrepreneurs building transformative solutions for the continent’s most pressing challenges. Managing Partner Idris Ayodeji Bello, alongside General Partners Mariam Kamel and Kevin Simmons, leads a team with extensive investment and operational expertise. Having invested in over 100 startups across 25 markets, the firm has delivered strong returns while actively nurturing Africa’s startup ecosystem.
Bello emphasizes that LoftyInc’s approach goes beyond just capital deployment. “Our previous funds were backed primarily by African professionals and entrepreneurs who didn’t just provide capital but also leveraged their networks and industry expertise to help startups thrive. This new fund institutionalizes that approach at an even larger scale.”
Expanding Africa’s VC Landscape
The Alpha Fund isn’t just about investing in high-potential startups—it’s about shaping the future of Africa’s venture capital landscape. LoftyInc Capital is focused on strengthening the continent’s early-stage funding ecosystem, ensuring that startups not only receive capital but also mentorship, strategic partnerships, and access to global markets.
Marieke Roestenberg of FMO noted: “The LoftyInc team has demonstrated deep local expertise and a track record of success. We are excited to support its efforts in institutionalizing venture capital across Africa.”
First Close Partners added: “We were drawn to LoftyInc because of its pioneering role in Africa’s investment ecosystem, its network of exceptional founders, and its commitment to driving scalable impact.”
The Future of African Tech Investment
As LoftyInc scales its impact, its work will not only fuel startup growth but also solidify Africa’s position as a global hub for tech-driven solutions. With visionaries like Idris Ayodeji Bello at the helm and the support of Middle Eastern investors, the future of African tech investment looks more promising than ever.
By fostering stronger ties between Africa and the Middle East, the Alpha Fund is not just a financial vehicle—it is a catalyst for a new era of cross-regional collaboration that will define the next wave of African tech success stories.
The long-term implications of this partnership extend beyond investment. As Africa’s digital economy matures, collaboration with Middle Eastern investors could create a powerful innovation corridor, unlocking fresh opportunities for startups, job creation, and economic transformation. This fund serves as a blueprint for how capital and expertise can converge to shape a more sustainable and interconnected future for Africa’s tech industry.
