News Summary

LoftyInc Capital, a prominent African venture capital firm, has launched its third fund, LoftyInc Alpha, with a first close at $43 million. The fund aims to address the funding gap between seed and Series A stages for African startups. LoftyInc Capital, known for its early investments in successful startups like Flutterwave and Andela, plans to focus on late-seed and Series A investments across Nigeria, Egypt, Kenya, and Francophone Africa. The firm has attracted a diverse group of limited partners, including sovereign wealth funds, development finance institutions, and high-net-worth individuals. With over 200 investments and 14 exits, LoftyInc provides not only capital but also market access and business development support to its portfolio companies. The new fund will focus on sectors such as financial services, logistics, health tech, retail, climate, and deep tech.