This archive report was first published on 1 November 2019.
TLcom Capital Supports Africa's Female Tech Founders ¶
TLcom Capital, a venture capital firm, is working to build a collaborative network of Africa's female tech founders. The firm recently hosted the inaugural Africa Tech Female Founder Summit, bringing together over 50 female founders from across the continent.
The summit featured insights from successful female founders, including Odunayo Eweniyi of Piggyvest, Isis Nyong'o of Mum's Village, Vivien Nwakah of Medsaf, and Miishe Addy of Jet Stream. The event also included panels on the ever-changing role of the founder, the fundraising journey, and attracting and retaining talent.
Funke Opeke, founder and CEO of Main One, was the keynote speaker for the summit. She emphasized the importance of taking learnings from the event back into respective networks and sharing them with the next generation. This, she stated, is crucial for real transformation.
TLcom Capital has a portfolio of companies, including Twiga Foods, Kobo360, Terragon, Andela, and Ajua, which also had their senior female executives attending the summit. The firm's Senior Partner, Omobola Johnson, noted that while female participation in tech has improved, female tech founders are still a rare breed. However, there is a growing number of female trailblazers in African tech, and TLcom believes this is a critical network to nurture and support.
TLcom Capital was launched in 1999 with approximately $300 million under its management. The firm has operations in Kenya, Nigeria, and the UK and focuses exclusively on technology-enabled services and innovation in Sub-Saharan Africa. It plans to hold the Africa Tech Female Founder Summit on an annual basis and encourage more of its portfolio companies to boost female representation in their organizations.
Andreata Muforo, Partner at TLcom, added that supporting diversity is already part of the firm's DNA, and with events like the Africa Tech Female Founder Summit, the team dedicates resources to mentoring female founders.
Earlier this year, TLcom was presented with the 'Specialist Investor Award' at the 2019 Private Equity Africa Awards and participated in Kobo360's recent $30mn Series A fundraise and Twiga's $30m Series B fundraise – two of the largest in African tech this year.
