Business LoftyInc Announces $25m Afropreneur Fund II to Boost African Startups



LoftyInc Capital Management and its partners have announced a new $25m Afropeneur Fund II which aims to boosts startups in the African ecosystem.

The Afropreneur Fund focuses on early stage Africa-facing enterprises that use technology to create social impact and find solutions to big problems facing the society.

The primary goal of the LoftyInc Afropreneur Fund is to capitalise on the strengths of its ground game in Sub-Sahara Africa to identify, support and drive the growth of next generation of ‘frontier market unicorns’ while leveraging these investments for social impact and contributing as much to social change.

“Afropreneur Fund 1 is a closed fund, that immediately provides our portfolio a source of critical follow-on funding in their critical phase of growth, while powering innovation across critical social impact sectors including financial integration, bridging the digital divide and underemployment gaps, housing and literacy among many others,” LoftyInc said in a statement.

LoftyInc has a sizeable contribution in the creation of Andela, Wennovation, Hutbay, OTGPlaya, Nerve Mobiel Ltd, Fuelmetrics and so on.


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