{"id":542994,"date":"2022-01-30T04:05:19","date_gmt":"2022-01-30T04:05:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/"},"modified":"2022-01-30T04:05:19","modified_gmt":"2022-01-30T04:05:19","slug":"vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/","title":{"rendered":"VC outfit TLcom Capital eyes Egypt. Plus: Aman + Taqa eye fintech"},"content":{"rendered":"

<\/a> Africa-focused VC firm <\/strong>TLcom Capital<\/a><\/strong> plans to enter Egypt<\/strong> with its new fund, which hit a first close of USD 70 mn, TechCrunch reports<\/a>. The firm, whose portfolio companies are all based in Nigeria or Kenya, is looking to use the fund to branch out to other areas of the continent, with Egypt as one of its prime targets.<\/p>\n

TLcom is looking to raise USD 150 mn in the fund\u2019s final close by November<\/strong>, founder and managing partner Maurizio Caio told Bloomberg<\/a>. It wants to use the fund to add 20 early-stage startups to its portfolio, with individual investments ranging from USD 500k to USD 15 mn.<\/p>\n

\u201cWe would really like to get exposure to Egypt<\/strong> in addition to what we have done where we are sitting in Lagos and Kenya \u2026 We see Egyptian entrepreneurs going into sub-Saharan Africa, so we want to get exposure,\u201d Caio said.<\/p>\n

What\u2019s TLcom? <\/strong>TLcom is focused on start-ups in fintech, mobility, agriculture, healthcare, education and e-commerce, though Caio told TechCrunch that it is also interested in venturing into Web3.0 (explainer)<\/a>, crypto and DeFi (explainer)i<\/a>. The firm\u2019s first fund, the USD 71 mn TIDE Africa Fund, invested in 11 startups from seed to series B stages.<\/p>\n

TLcom LPs include<\/strong> CDC Group<\/a>, the International Finance Corporation<\/a>, and France\u2019s Proparco are among the international partners backing the fund, while local players FBN Quest<\/a> and Sango Capital<\/a> have also committed funds.<\/p>\n

IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n

Raya Holdin<\/strong>g subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia are setting up a<\/strong> fintech company targeting energy consumers<\/strong>, the two companies announced in a statement (pdf)<\/a> last week. The as-yet unnamed joint venture will be 51% owned by Aman and will provide e-payment services to Taqa customers, increasing the number of Aman branches at Taqa gas stations to 350, Hapi Journal<\/a> reported, citing Raya Holdings Chairman Medhat Khalil.<\/p>\n

The JV is expected to begin operations in 1H2022<\/strong> after it lands the final licenses it needs. An Aman representative told us that Aman will invest EGP 300 mn in the venture over the next three years, but declined to disclose the company\u2019s start-up capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-focused VC firm TLcom Capital plans to enter Egypt with its new fund, which hit a first close of USD 70 mn, TechCrunch reports. The firm, whose portfolio companies are all based in Nigeria or Kenya, is looking to use the fund to branch out to other areas of the continent, with Egypt as one […]<\/p>\n","protected":false},"author":1,"featured_media":542995,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[616,72,125,613,614,123,615,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-aman-financial-services","tag-enterpriseam","tag-investment-watch","tag-qalaa-holdings","tag-raya-holding","tag-startups","tag-taqa-arabia","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"c5bc25f9-0336-4fb3-9d66-e840ce4ea11c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/358.jpg","photo_position":"above","related_issue":[542988],"teaser":"","voice_url":""},"yoast_head":"\nVC outfit TLcom Capital eyes Egypt. Plus: Aman + Taqa eye fintech - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VC outfit TLcom Capital eyes Egypt. Plus: Aman + Taqa eye fintech\" \/>\n<meta property=\"og:description\" content=\"Africa-focused VC firm TLcom Capital plans to enter Egypt with its new fund, which hit a first close of USD 70 mn, TechCrunch reports. 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Chimera Global Fund is now looking to target investors for a third and final close it expects to wrap up this quarter,\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547704,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/04\/intercap-capital-to-set-up-a-usd-30-mn-vc-fund\/","url_meta":{"origin":542994,"position":2},"title":"Intercap Capital to set up a USD 30 mn VC fund","author":"enterpriseam admin","date":"4 July 2022","format":false,"excerpt":"Investment banking firm Intercap Capital is working on setting up a USD 30 mn fund for investing in tech startups, Managing Director Rafik Dalala told Enterprise. The fund, which Intercap is naming T-Six, is aiming for a USD 10 mn first close at the beginning of 2023 and plans to\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/106.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575367,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/plus-venture-capital-to-invest-usd-60-mn-in-120-mena-tech-startups-with-new-fund\/","url_meta":{"origin":542994,"position":3},"title":"Plus Venture Capital to invest USD 60 mn in 120 MENA tech startups with new fund","author":"enterpriseam admin","date":"13 October 2020","format":false,"excerpt":"STARTUP WATCH- Plus Venture Capital looks to invest USD 60 mn in 120 MENA tech startups with new fund: Plus Venture Capital, a new VC firm set up by former 500 Falcons managing partners Sharif El Badawi and Hasan Haider, will invest USD 60 mn in 120 early-stage startups across\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559126,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/11\/more-vc-money-looks-to-egypt\/","url_meta":{"origin":542994,"position":4},"title":"More VC money looks to Egypt","author":"enterpriseam admin","date":"11 January 2021","format":false,"excerpt":"High-growth tech startups in Egypt and the MENAP region are targets for UAE-based Access Bridge Ventures (ABV), which reached first close on a USD 25 mn regional venture capital fund, ABV said in a press release (pdf). The fund will look at startups in healthtech, edutech, fintech, enterprise-tech and Software\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543955,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/egypt-launches-new-world-bank-backed-usd-50-mn-vc-fund\/","url_meta":{"origin":542994,"position":5},"title":"Egypt launches new World Bank-backed USD 50 mn VC fund","author":"enterpriseam admin","date":"27 February 2022","format":false,"excerpt":"MSMEDA partners with World Bank to launch USD 50 mn VC fund: The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has launched a venture capital fund with USD 50 mn from the World Bank, according to a press release. Trade Minister and MSMEDA Executive Director Nevine Gamea announced the\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/372.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542994"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542994\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542995"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542994"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542994"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}