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TLcom

TLcom

Unclaimed
Lagos, NigeriaEst. 1999$300M AUMUpdated Is this your firm? Suggest a correction

At a Glance

Check Size
$500K – $10M
Stage
Seed, Series A, Series B+
AUM
$300M
Sectors
Fintech, Enterprise, SaaS +2
Founded
1999
HQ
Lagos, Nigeria

About TLcom

TLcom Capital was founded in 2010 and has established itself as one of Africa's most prominent venture capital firms, with offices in Lagos, Nairobi, and London. The firm focuses exclusively on technology-enabled businesses across Sub-Saharan Africa, investing from seed through Series B stages. TLcom has been instrumental in the growth of Africa's technology ecosystem, backing companies that address fundamental challenges across the continent in sectors including fintech, logistics, education, and enterprise software. Notable portfolio companies include Andela (developer training), Kobo360 (logistics), uLesson (education technology), and Autochek (automotive marketplace). The firm's team combines local market expertise with international investment experience, enabling them to identify promising startups and help them scale across multiple African markets. TLcom has raised multiple funds totaling over $300 million and has been recognized as one of the most active investors in African technology, playing a crucial role in developing the continent's startup ecosystem.

Investment Thesis

“Invests in technology-enabled businesses across Sub-Saharan Africa that can scale to serve the continent's fast-growing digital economy.”

Leadership Team

Maurizio Caio is managing partner. Omobola Johnson is senior partner and is a prominent figure in Nigerian technology policy. Andreata Muforo and Eloho Omame are partners, and Muforo publishes on why capital alone will not fix African exits, a recurring theme in the firm's Perspectives series.

Philippe Griffiths and Cyril Shonibare are principals. Daisy Liech is director of portfolio and strategy and Francesca Iannilli is director of operations, with Felister Njeru as financial controller and Samuel Obuya as financial analyst. Analysts and operations staff include Eniola Ladapo, Sean Smith, Toun Adesiyan and Carolyne Wambayi, a team of roughly 14 across the three offices. The firm describes its bench as combining depth in investing, strategy, operations and venture building, and positions itself on conviction before consensus.

Sector Focus

Investment Stage

Notable Portfolio Companies

AAndela
KKobo360
uuLesson
AAutochek
OOkra

Fund History

TLCOM raises Africa-dedicated funds and states on its own site that it has spent over a decade studying African markets, backing resilient management teams through cycles of growth and uncertainty. Its investment range spans early conviction at seed through growth rounds, and the firm operates from Lagos, Nairobi and London.

Its capital base is institutional and development-finance weighted rather than a typical LP mix. Investors quoted on the firm's own site include British International Investment, whose head of technology and telecom describes expanding the partnership, and the Visa Foundation, whose head of investments cites TLCOM's track record supporting entrepreneurs building high-growth models in African markets. The firm publishes compliance, ESG and whistleblowing policies, consistent with development-finance LP requirements. Portfolio companies whose management teams are featured include Pula, Flextock, HoneyCoin, littlefish, FairMoney, SeamlessHR, uLesson and Zone, spanning agricultural insurance, logistics, payments, HR software, education and blockchain-based payment rails.

Frequently Asked Questions

What stage does TLcom invest at?

TLcom primarily invests at the Seed, Series A, Series B+ stages. This means they focus on companies that are building their initial product and finding product-market fit.

Where is TLcom located?

TLcom is headquartered in Lagos, Nigeria. Many of their portfolio companies are also based in this region, though they invest across geographies.

What sectors does TLcom focus on?

TLcom focuses on investments in Fintech, Enterprise, SaaS, Digital Health, Agriculture. Their portfolio reflects deep expertise and networks within these sectors.

What is TLcom's typical check size?

TLcom's typical investment check size ranges from $500K to $10M. Actual amounts may vary based on the stage, sector, and specific opportunity.

How much does TLcom have under management?

TLcom manages approximately $300M in assets under management (AUM) across their funds.

Fund Operations Resources

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