TIDE AFRICA LP

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IFC is considering an equity investment of upto US$6 million in TIDE Africa Fund (“TIDE”). TIDE is an Africa-focused venture capital fund making investments in early to growth stage tech and tech-enabled companies in SSA, investing between US$0.5 million and US$8 million with a particular emphasis on Series A and Series B financing rounds. Majority of TIDE’s investments will be concentrated in Anglophone Africa: Kenya, Nigeria, Ghana and South Africa, and the remaining allocation will be deployed in other Western, Eastern and Southern African countries, with a sectoral focus on consumer services, financial services, and enterprise technologies. TIDE has already made investments in five high growth digital companies in Kenya and Nigeria. TIDE Africa reached first close at US$40 million in July 2017 and is expecting to get to final close by June 2019. Anchor investors include: European Investment Bank, Africa Development Bank, Proparco and Thrive Charitable Remainder Trust. TIDE is managed by a team of four investment professionals, led by Maurizio Caio with on-the-ground presence in Sub-Saharan Africa.