PROJECT

Projects

Summary of Investment Information

Project Number

45311

Company Name

TIDE AFRICA II LP

Date SPI Disclosed

May 6, 2021

Country

Nigeria

Region

Africa

Projected Board Date

Jun 17, 2021

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 21, 2023

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Jun 17, 2021
Signed : Nov 10, 2021
Invested : Dec 10, 2021

Sector

Venture Capital Fund

Project Description

IFC is considering an equity investment of up to US$10 million in TIDE Africa II Limited Partnership (“TIDE II”). TIDE II is an Africa-focused venture capital fund investing in Seed to Series A tech and tech-enabled companies mainly in East and West Africa. The Fund’s sectoral focus will mainly be in the fintech, e-logistics, e-supply chain and healthtech space. 

This will be the second fund that IFC will be investing in after its US$5 million commitment into TIDE Africa Fund I Limited Partnership (“TIDE I”) that has so far made investments into 11 tech startups in Kenya, Nigeria and South Africa.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation