TIDE Africa Fund

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.