LoftyInc Capital Management, a Nigerian venture capital firm made 65 African investments in 2021
LoftyInc Capital Management, a Nigerian venture capital firm, made 92 investments in 2021, 65 of which were in African digital firms.
LoftyInc Capital Management is a venture capital business with the goal of “creating an ecosystem of Africans investing in Africans addressing African challenges.”
The business announced the first closing of its US $10 million LoftyInc Afropreneurs Fund 3 (LAF3) in September, as it ramped up its participation in the African startup area. This followed after the first “unicorn exit” in Flutterwave, which provided considerable returns to its investors through the LoftyInc Afropreneurs Fund 2 (LAF2) investment.
LAF3 is a $10 million technology fund that invests in seed-to-Series A technology-enabled businesses that are laying the groundwork for Africa’s digital infrastructure and are positioned for fast expansion.
In 2021, the business made 92 investments in total, 65 of which were in African companies. Metalex, Sudo, ATHLST, AlumUnite, TechAdvance, RxAll, Omnibiz, Star Kitchens, PayPecker, Enlumi, Homefort, FlexFinance, eBanqo, Aladdin Digital Bank, Epump, Bitnob, RoHealth, Sabi, Eden Life, NestCoin, Touch and Pay, Terragon Group, Treepz, Aku Fintech, Ceviant, and Pesabook were among the twenty.
Appetito, AlgoPay, Odiggo, Tagaddod, InstaDiet, ILLA, Pylon, ShipBlu, MoneyHash, Gahez Market, Supportfinity, Sylndr, and Nawah Scientific are among the 13 Egyptian firms LoftyInc has invested in.
Ada Marketplace, CashBackApp, Craydel, Dash-Spektra, FlexPay, Raise, and Wowzi were among the seven Kenyan firms that got funding, while LoftyInc also invested in six South African startups (Akiba Digital, Beamm, Epic Contests, Foondamate, Smart Wage, and Welo Health).
InstantRad, Second Stax, Tendo, and Yemaachi Biotechnology were among the Ghanaian firms supported, while eJara and PAPS were from Senegal. LoftyInc also invested in startups from Cameroon (StarNews Mobile), Ivory Coast (Afrikrea), Rwanda (PayDay), Uganda (Rocket Health), and Zambia (Zazu) in 2021.
The company also invested in 27 non-African companies, including 16 in the United States, 5 in Pakistan, 2 in the United Kingdom, 1 each in Bangladesh, Cambodia, Germany, and the United Arab Emirates (1 each).
“The inspiring thing about this is that it represents African fund managers and angel investors investing in African founders. Those who have succeeded have already been reinvesting back into other African entrepreneurs, so we have established a sustainable virtuous circle! And solved a lot of problems, created a tonne of new jobs, and inspired youth to stop looking for government jobs and jobs abroad. They have been launching African ventures instead,” Marsha Wulff, co-founder and principal at LoftyInc Capital Management, told as per reports.
