# LoftyInc Capital > Backing early stage Afropreneurs building tech-enabled solutions for the "everyday economy" ## Posts - [LoftyInc Capital Announces $43M First Close of Its New Pan-African Seed Fund](https://loftyinc.vc/loftyinc-capital-announces-43m-first-close-of-its-new-pan-african-seed-fund/): LoftyInc Capital Announces $43M First Close of its New Pan-African Seed Fund March 5th, 2025: LoftyInc Capital Management has announced the first close of $43m for its new LoftyInc Alpha Fund, a late-seed focused investment vehicle that will drive growth for Africa’s most promising tech startups across key geographies, including Nigeria, Egypt, Kenya, and Francophone Africa. Operating out of Nigeria, Egypt, and Kenya, LoftyInc is one of the African VC ecosystem’s earliest and most successful investors, with early investments in prominent startups such as Flutterwave, Andela, Wave Mobile Money, RelianceHealth, Thndr, OmniRetail, and Moove. With over a decade of venture […] - [The Rise of Africa's Digital Economy: A Detailed Analysis of Key Acquisitions](https://loftyinc.vc/the-rise-of-africas-digital-economy-a-detailed-analysis-of-key-acquisitions/): The Rise of Africa’s Digital Economy: A Detailed Analysis of Key Acquisitions Working at LoftyInc Capital presents numerous advantages for those in the investment and entrepreneurial ecosystem. One of the standout benefits is the opportunity to collaborate with Idris Bello, a highly connected and resourceful leader in the industry. Bello’s extensive network and wealth of knowledge provide invaluable insights and opportunities for growth and success. To illustrate this, consider the following article he shared, which offers a glimpse into the type of valuable content and perspectives he brings to the table. The Rise of Africa’s Digital Economy: A Detailed Analysis […] - [The Startup Sensation Podcast ft Marsha Wulff](https://loftyinc.vc/the-startup-sensation-podcast-ft-marsha-wulff/): The Startup Sensations Podcast ft Marsha Wulff Join us for an exciting new episode of The Startup Sensations Podcasts, where founding partner Marsha Wulff , took them on a journey through her experiences, from the unexpected challenges she faced during her debut in Africa to the inspiring stories of resilience and entrepreneurship she witnessed among local businessmen and women. In this episode, Marsha shared valuable insights into building a vibrant tech startup ecosystem and her vision for leveraging the diaspora for African prosperity. She also discussed strategies for expansion and diversification in Africa, navigating regulatory environments and investment opportunities, and […] - [2023 In Review](https://loftyinc.vc/2023-in-review/): 2023 In Review “One of the biggest mistakes investors make is to look at the last few years and assume that’s the new norm.” — Francois Rochon Going by all available reports, 2023 was a slow year in terms of funds raised by African startups and the number of African deals done. However, for a firm like ours that has been investing in this space for over a decade, we are able to have a longer time horizon for comparison. Hence, we realize that while 2023 paled in comparison to the three years before it, when you compare to pre-2019 […] - [How Professionals Can Lead the Re-imagination of a New Nigeria](https://loftyinc.vc/re-imagination-of-new-nigeria/): How Professionals Can Lead the Re-imagination of a New Nigeria Innovation is not a mere buzzword; it’s the lifeblood of progress. And in the context of a nation, innovation takes on an even more critical role – that of building and shaping its destiny. As we navigate the complexities of our world, it’s imperative that professionals play a pivotal role in driving innovation for the purpose of nation building. In this essay, I will delve into the essence of innovation, the role of professionals in shaping a nation’s future, and the imperative call to action that lies before us. At […] - [Beyond The Bushes: How Diversity Builds Value](https://loftyinc.vc/beyond-the-bushes/): Beyond The Bushes: How Diversity Builds Value When I was a small girl looking at a vast ocean, I asked my father how he had spotted a tiny boat. “Just let your eye scan the horizon above the water, slowly moving from one side to the other,” he replied. “That way your peripheral vision will notice anything unusual.” That was the first time I realized I HAD peripheral vision, but it worked, and I remember this whenever I’m taking in a really big view. Similarly, when I was trying to spot game in dense bush on an African safari and […] - [Foreign Frisbee Event Software](https://loftyinc.vc/foreign-frisbee-event-software/): VPN Services Opinions VPN solutions offer several benefits, but their main gain is a increased degree of privacy and secureness. 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The availability of penny slots online for free made the possibility of turning them from an entertainment source to a new level in gambling online excitement. Slots Now offers free games that are not just […] - [Retaining Young Tech Talent in Africa’s Competitive Tech Landscape](https://loftyinc.vc/retaining-young-tech-talent/): Retaining Young Tech Talent in Africa's Competitive Tech Landscape Introduction: In an increasingly competitive global landscape, retaining young tech talent is crucial for Africa’s tech ecosystem to thrive. This post explores the challenges faced by the continent and outlines potential solutions for retaining talent and attracting foreign talent. By fostering an environment that promotes political stability, competitive career incentives, and upskilling opportunities, Africa can position itself as a desirable destination for tech professionals. Short-Term Solutions: To address the immediate challenges of talent retention, the following strategies can be implemented: 1. Favorable Rules and Regulations: Implementing startup-friendly regulations and legislation, such […] - [Empowering Women in Venture Capital: From Entry Level to Executive Leadership](https://loftyinc.vc/empowering-women-in-vc/): Empowering Women in Venture Capital: From Entry Level to Executive Leadership I believe that at the entry level women need to be bold enough to step up and apply for the roles. The great thing about VC, and especially VC in Africa, is that it is all still new. Our industry is still so young! So there are diverse and varying paths that one can take to break into this business. You don’t need to have a specific pedigree or experience to work in VC. Follow VC investors on Twitter and LinkedIn to learn about work opportunities. Attend events to […] - [The most active investors in Africa](https://loftyinc.vc/the-most-active-investors-in-africa/): The most active investors in Africa Nearly 1,500 investors have been involved in at least one deal in Africa in the past couple of years… and that’s excluding angels! All of them are contributing to the growth of the ecosystem, but some are just taking things to a whole different level. This week we’re having a closer look at the investors who in the past two years (2021-2022) have signed at least one cheque a month on average*. Read more.   Twitter Linkedin Instagram © 2023 LoftyInc Capital Management. All Rights Reserved. - [LAF3 Annual Report 2022](https://loftyinc.vc/laf3-annual-report/): LAF3 Annual Report 2022 Twitter Linkedin Instagram © 2023 LoftyInc Capital Management. All Rights Reserved. - [LAF3 FINAL CLOSE PRESS RELEASE](https://loftyinc.vc/laf3-final-close-press-release/): LAF3 FINAL CLOSE LoftyInc Capital Management, an early-stage African-focused venture capital firm, announces the final close of its over-subscribed LoftyInc Afropreneurs Fund 3 (LAF3). It was raised in 8 months with participation from African HNWIs, US family offices, global tech giants, financial institutions, and angel investors. LAF3 closed in Q1 of this year. Coming off our first unicorn exit via LoftyInc Afropreneurs Fund 2 (LAF2) investment in Flutterwave, we launched LAF3 in 2021 as a $10m fund. However, it closed 40% oversubscribed at $14.2M. LAF3 is a venture capital fund investing in Seed-to-Series A technology-enabled companies founded by bold Afropreneurs […] - [How angel investing helps close early-stage financing gap for high growth ventures in Africa](https://loftyinc.vc/how-angel-investing-helps/): How angel investing helps close early-stage financing gap for high growth ventures in Africa Investment by angel investors into African startups has recently grown rapidly alongside the development of startup ecosystems, which have greatly increased the number of investable opportunities. Early signs of success, such the emergence of several very successful African fintech startups, have spurred further interest from angel investors worldwide. Their increased appetite for investment on the continent is both enabled and accelerated by new approaches to organized angel investing. Which makes it more cost-efficient to invest in high-growth African ventures. These businesses are key to stimulating (youth) […] - [Foley Advises LoftyInc Capital on Launch of $10M Fund for Tech Startups](https://loftyinc.vc/foley-advises-loftyinc-capital-on-launch-of-10m-fund-for-tech-startups/): Foley Advises LoftyInc Capital on Launch of $10M Fund for Tech Startups Foley & Lardner LLP acted as legal counsel to LoftyInc Capital, a pan-African VC firm, in the launch of its third fund – LoftyInc Afropreneurs Fund 3 – at $10 million for technology startups in Africa. The firm has reached the first close of $5.5 million, and partners include those from its second fund, FBNQuest Funds; syndicates from The Green Investment Club; HNIs from Google, Facebook and ExxonMobil; and Andela CEO Jeremy Johnson, among others. Read more. Twitter Linkedin Instagram © 2023 LoftyInc Capital Management. All Rights Reserved. - [LoftyInc Capital launches third fund at $10M for a more diverse portfolio of African startups](https://loftyinc.vc/loftyinc-capital-launches-third-fund-at-10m-for-a-more-diverse-portfolio-of-african-startups/): LoftyInc Capital launches third fund at $10M for a more diverse portfolio of African startups LoftyInc Capital, a pan-African VC firm, announced today that it is launching its third fund — LoftyInc Afropreneurs Fund 3 — at $10 million for tech startups in Africa. The firm has reached the first close of $5.5 million. Some of the limited partners in the vehicle include those from its second fund, FBNQuest Funds, syndicates from The Green Investment Club, HNIs from multinationals like Google, Facebook and ExxonMobil; and Andela CEO Jeremy Johnson, among others. Read more. Twitter Linkedin Instagram © 2023 LoftyInc Capital […] - [An insight into how early-stage venture firm, LoftyInc Capital Management, invests in African startups](https://loftyinc.vc/an-insight-into-how-early-stage-venture-firm-loftyinc-capital-management-invests-in-african-startups/): An insight into how early-stage venture firm, LoftyInc Capital Management, invests in African startups On the surface, Reliance HMO, a Nigerian health insurance startup, and Printivo, a print-on-demand startup from Nigeria, have nothing in common. But they do. They are both portfolio companies of LoftyInc Capital Management, creators of Wennovation Hub, Nigeria’s first private incubator. Founded in 2010 by Wole Odetayo, Idris Ayodeji Bello, Dami Agboola, and Michael Oluwagbemi, Wennovation Hub is the product of a partnership between LoftyInc Allied Partners and the Africa Leadership Forum. Read more.   Twitter Linkedin Instagram © 2023 LoftyInc Capital Management. All Rights Reserved. ## Pages - [OLUWATOFUNMI IDOWU](https://loftyinc.vc/oluwatofunmi-idowu/): Oluwatofunmi Idowu Oluwatofunmi is a Venture Analyst with the LoftyInc team. Prior to LoftyInc, she worked with the investment team at Co-Creation Hub, where she played a crucial role in the Mastercard Foundation Edtech Program’s startup selection process in Nigeria and Kenya. She previously worked with Mastercard Consulting team in SSA, KPMG Nigeria, and also Funema, a Venture Building firm where she was involved in providing support to startups in Africa and Asia. Oluwatofunmi has a Bachelors Degree in Economics from Obafemi Awolowo University, Nigeria. Twitter Linkedin Instagram © 2023 LoftyInc Capital Management. All Rights Reserved. - [JARAF GUEYE](https://loftyinc.vc/jaraf-gueye/): JARAF GUEYE Jaraf is an Investment Analyst at LoftyInc Capital and supports the team with deal sourcing, investment screening and portfolio management. Previously worked as a Sales Quantitative Analyst and Research Analyst for First Republic Bank where he developed and executed quantitative sales strategies for the Venture Capital and Technology Banking Group in San Francisco. Before this he worked at Wells Fargo Securities as an Analyst on their FX Capital Markets team. He also has experience working at Earnest Inc, a fintech based in San Francisco and CP Ventures in Sydney, Australia. Jaraf holds a bachelor’s degree in Philosophy, Politics, […] - [MATTHEW AKANO](https://loftyinc.vc/matthew-akano/): Matthew Akano Matthew Akano is the Director of Fund Operations and ESG Officer at LoftyInc Capital, where he supports initiatives in fund accounting, reporting, compliance, governance, and ESG integration. Passionate about fostering innovation and impact across Africa, he plays a strategic role in supporting entrepreneurs leveraging technology to address global challenges. Prior to LoftyInc Capital, Matthew held key leadership roles, including Head of Fund Operations at Ventures Platform Fund, Head of Internal Audit at Ventoven Limited, Emerging Platforms, Ventures Platform Startup Foundation, Ventures Park Limited, Eduplatform Limited, and Regional Head of Internal Audit at Visafone Communications Limited, where he drove […] - [MAZEN AL-MORSHEDY](https://loftyinc.vc/mazen-al-morshedy/): Mazen Al-Morshedy Mazen is currently an Investment Associate at LoftyInc Capital; prior to joining LoftyInc he worked as the General Manager of EFG Fintech, Investment Associate at Egypt Ventures where he was responsible for managing a portfolio of +120 startups (direct and indirect) as well as managing the companies’ investments in Egyptian startups. Before that, he was a Capital Markets Manager at Credit Agricole where he alongside his team were responsible for managing the bank’s equity and debt investments, alternative assets portfolios and treasury management. Before that, Mazen was a Senior Analyst at GB Capital where he was also responsible […] - [ALYUNE-BLONDIN DIOP](https://loftyinc.vc/alyune-blondin-diop/): Alyune-Blondin Diop Alyune Diop is an Associate, working on deal sourcing and execution, portfolio support, and investor relations. Previously, he worked as an Investment Analyst at Joliba Capital, a generalist Private Equity fund that mainly focuses on SMEs in Francophone West and Central Africa. He also has experience with the Tikehau Capital private equity team in London and LBO France’s small- and mid-cap teams in Paris. He also worked at Sonatel, the leading telecommunications operator in Senegal and at BICIS (BNP Paribas Senegal) in credit rating and credit risk management. Alyune holds a Master Grande Ecole in Finance from EM […] - [LYDIA IDEM](https://loftyinc.vc/lydia-idem/): Lydia Idem Lydia Idem oversees Fund Administration, Investor Relations, Portfolio Management, Finance, Compliance, Communications, and Human Resources. Lydia is a fund manager and investment advisor who has been an investor and trader for more than 25 years in both private and public investments. She has spent her career investing in startup companies in Africa and Latin America at the early stage. She sits on the board of directors of organizations serving on their respective finance and executive committees, utilizing her financial and analytical skills to determine optimal investment opportunities and capital utilization for these organizations. Lydia has been a special […] - [KEVIN SIMMONS](https://loftyinc.vc/kevin-simmons/): Kevin Simmons Kevin Simmons is an experienced venture capitalist and angel investor who has co-founded several investing networks and syndicates in the US, UK, and Africa. He previously ran AAG, the most active angel network on the continent, and co-founded Rice University based Valhalla Investment Group which has invested several million dollars in startups including 2 SPACs and a NASDAQ IPO in its 10 years of existence. Kevin is a former startup founder and operator, and a current Techstars Mentor. He is a graduate of the U.S. Naval Academy and former project manager for Chevron. Kevin holds advanced management and […] - [MARIAM KAMEL](https://loftyinc.vc/mariam-kamel/): Mariam Kamel Mariam Kamel has 15+ years experience working in capital markets. She began her career in Investment Banking advising mid- and large-cap companies in connection with corporate restructuring, equity- and debt-financing, mergers and acquisitions, and equity capital markets transactions. She then provided Investor Relations advisory services for a number of publicly-listed companies and family conglomerates, before cofounding FLOW, a family health and wellness center. Most recently, she led and managed AUC Angels, the first university-based angel investor network in the MENA region Mariam holds a Bachelor of Commerce from Concordia University and a Masters in Public Policy and Administration […] - [MICHAEL OLUWAGBEMI](https://loftyinc.vc/michael-oluwagbemi/): MICHAEL OLUWAGBEMI MBA LONDON, MSC HOUSTON, PE Michael O. Oluwagbemi is Co-founder & Emeritus Partner at LoftyInc Allied Partners Limited (operator of the Wennovation Hub based in Lagos, Nigeria and LoftyInc Capital Management in the USA). He is a Summa Cum Laude graduate of Electrical Engineering at Prairie View A&M University; Michael Oluwagbemi also earned a Masters Degree in Electrical Engineering from the University of Houston, USA. He holds a Masters in Business Administration in International Management from the University of London, United Kingdom. Michael has extensive experience with over a decade in innovative venture support and development, and project […] - [IDRIS AYODEJI BELLO](https://loftyinc.vc/idris-ayodeji-bello/): IDRIS AYODEJI BELLO MSC HOUSTON, MBA RICE, MSC OXFORD The ‘Afropreneur’ (entrepreneur with an African focus), as he self-describes, Idris Bello is a co-founder of The Wennovation Hub, and is one of Africa’s most sought-after angel investors and startup advisors. He also founded the Afropreneurs Angels Group which boasts of the active participation of over 100 global executives in the health, financial services, energy, agriculture, venture capital, and technology sectors who are of African origin. Listed among CNN’s Top Ten African Technology Voices, he is a Singularity University Impact Fellow, and an alumnus of the Obafemi Awolowo University, Nigeria, the […] - [MARSHA WULFF](https://loftyinc.vc/marsha-wulff/): Marsha Wulff EMBA, SMU Dallas Marsha Wulff is an early-stage tech venture investor and business mentor. She has lived and worked internationally, including India, China, South America, and many parts of Africa. Since 1997, she has been a private equity, social impact investor, with a focus on African business development via joint ventures, global trade, private financings, and grant funding. She co-owns a superfood farm and processing center in Uganda and has advised the Loftyinc Ltd group of Nigeria since 2009. She advises Stanford’s Institute for Innovation in Developing Economies, helped establish the Frontier Market Scouts Program of Middlebury Institute […] - [Insights](https://loftyinc.vc/blog/): INSIGHTS Insights The Rise of Africa's Digital Economy: A Detailed Analysis of Key Acquisitions The Startup Sensation Podcast ft Marsha Wulff 2023 In Review How Professionals Can Lead the Re-imagination of a New Nigeria Beyond The Bushes: How Diversity Builds Value Retaining Young Tech Talent in Africa’s Competitive Tech Landscape Empowering Women in Venture Capital: From Entry Level to Executive Leadership The most active investors in Africa LAF3 Annual Report 2022 LAF3 FINAL CLOSE PRESS RELEASE How angel investing helps close early-stage financing gap for high growth ventures in Africa Foley Advises LoftyInc Capital on Launch of $10M Fund for […] - [Value Add](https://loftyinc.vc/value-add/): At LoftyInc Capital, we stand by every founder we invest in from day one, with our expert portfolio support team and global network of professionals. Together, we lighten your load, allowing you to focus on your core vision. At LoftyInc Capital, we are committed to supporting every founder we invest in, starting from day one. Our dedicated portfolio support team consists of in-house experts and a vast global network of operational professionals who collaborate closely with your team on value-adding projects. By shouldering some of the weight, we empower you to focus on executing your core vision. Strategic Growth Our […] - [Team](https://loftyinc.vc/team/): THE TEAM IdrisBello Founding Partner Linkedin MariamKamel General Partner Linkedin KevinSimmons General Partner Linkedin LydiaIdem Chief Operating Officer Linkedin MarshaWulff Founding Partner Linkedin MichaelOluwagbemi Founding Partner Linkedin MatthewAkano Director of Fund Operations Linkedin Alyune-BlondinDiop Investment Principal Linkedin MazenAl-Morshedy Investment Associate Linkedin OluwatofunmiIdowu Venture Analyst Linkedin JarafGueye Investment Analyst Linkedin Twitter Linkedin Instagram File a Claim © 2023 LoftyInc Capital Management. All Rights Reserved. - [Portfolio](https://loftyinc.vc/portfolio/): OUR PORTFOLIO SINCE 2011 WE HAVE INVESTED IN MORE THAN 130 AFROPRENEURS Twitter Linkedin Instagram All SPOTLIGHTS FinTech AI ECOMMERCE EDTECH ENTERPRISE SOFTWARE FOODTECH HEALTHTECH LOGISTICS CLIMATE Abwaab Industry: Edtech Country: Jordan Status: Active Investment Year: 2019 Website Adient Industry: HealthTech Country: United States Status: Active Investment Year: 2014 Website Adun Industry: FoodTech Country: United States Status: Active Investment Year: 2022 Website Akiba Industry: Fintech Country: South Africa Status: Active Investment Year: 2021 Website Aku Industry: Fintech Country: Nigeria Status: Active Investment Year: 2021 Website AlumUnite Industry: Edtech Country: Nigeria Status: Active Investment Year: 2022 Website Andela Industry: Edtech Country: […] - [Strategy](https://loftyinc.vc/learn-and-apply/): “As capital becomes a commodity with more early-stage investors flocking to Africa, what will make us stand out will be our networks, relationships, and reputations.” Submit Deck What we look for Large Markets A clear market opportunity that is massive and growing, captured through a scalable business model. We aim at reaching sustainable impact across a large audience by addressing deep markets, or investing in market-creating innovations. Scalable Economics Tech-enabled businesses with proven, highly leverageable and defensible revenues, coupled with the ability to improve unit economics through cost and capital efficiency are able to achieve top-trend growth more easily than […] - [Jobs](https://loftyinc.vc/jobs/): Matching people with the right opportunities Our No 1 Impact Metric is the number of high impact jobs created by the companies we invest in! Below are some open positions from companies in our portfolio and networks. Find your next opportunity below. AVAILABLE OPPORTUNITIES JOB TITLE Team Lead – Growth & Brand Company Name Sudo Industry Fintech Location Abuja Job Type Full Time Job description Apply Now JOB TITLE Comms & Growth Specialist Company Name Sudo Industry Fintech Location Abuja Job Type Full Time Job description Apply Now JOB TITLE Brand and Graphic Designer Company Name Sudo Industry Fintech Location […] - [About](https://loftyinc.vc/about-3/): We can help you create a style that makes a BOLD STATEMENT We are a full-service interior design company that specializes in creating beautiful and functional living spaces. Our team of experienced designers, craftsmen, and technicians is dedicated to bringing your vision to life with the highest quality products and services. Our range of products and services include: Furniture: We offer a wide selection of stylish and functional furniture to fit any room in your home or office. From contemporary to traditional, our pieces are carefully curated to provide the perfect balance of comfort and aesthetic appeal. Curtain Automation: Experience […] - [LoftyInc Capital Management](https://loftyinc.vc/): . LoftyInc Capital Announces $43M First Close of Its New Pan-African Seed Fund. Read our announcement. Backing early stage Afropreneurs building tech-enabled solutions for the “everyday economy” Our Stats Submit Deck ”Unlocking boundless payment opportunities for enterprises, individuals, small businesses, emerging markets, and startups alike.” ABOUT: Flutterwave is on a mission to build payments infrastructure to connect Africa to the global economy by building technology, tools, and infrastructure for businesses and banks who want to provide a more seamless and secure payments experience for their customers. FOUNDED: 2016 FOUNDER: Olugbenga Agboola, Iyinoluwa Aboyeji ”Say goodbye to chores forever. Eden is […] [comment]: # (Generated by Hostinger Tools Plugin)