LoftyInc Capital Management has secured $43 million in the first close of its LoftyInc Alpha Fund, a late-seed investment vehicle designed to support high-growth tech startups across Nigeria, Egypt, Kenya, and Francophone Africa.

Who’s Backing the Fund?

The Alpha Fund has attracted a diverse range of African and international investors, including:

• Sovereign wealth funds
• Development finance institutions (DFIs)
• US family offices
• Regional investment bodies

Among its notable backers are:

• Egypt’s Micro, Small, and Medium Enterprises Development Agency
• Tunisia’s Anava Fund of Funds
• FMO (Dutch Entrepreneurial Development Bank)
• Proparco (with FISEA)
• International Finance Corporation (IFC)
• AfricaGrow
• Dutch Good Growth Fund
• US-based First Close Partners

Additionally, the fund received support from African high-net-worth individuals, signaling strong local confidence in LoftyInc’s investment strategy.

What Will the Fund Do?

The Alpha Fund will focus on late-seed startups transitioning from early traction to scalable growth, providing:

• Capital infusion for expansion
• Operational support to accelerate market reach

LoftyInc’s Track Record

LoftyInc has previously invested in over 100 startups across 25 markets, including major African tech successes like:

• Flutterwave (Fintech)
• Andela (Tech Talent)
• Wave Mobile Money (Payments)
• OmniRetail (E-commerce)
• RelianceHealth (Healthtech)
• Thndr (Investment platform)
• Moove (Mobility startup, recently raised $100M from Uber & Mubadala)

With this fund, LoftyInc aims to drive further innovation and economic growth in Africa’s tech ecosystem while ensuring strong returns for its investors.