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African VC LoftyInc Capital launches third fund for seed and Series A, reaches $43M first close
One of Africa’s most active investors, known for early bets on unicorns like Flutterwave, Andela, and Wave, has secured fresh capital to invest in
Development finance institutions like FMO, Proparco (FISEA), AfricaGrow, IFC, and the U.S.-based First Close Partners also participated, alongside African high-net-worth individuals (HNIs) and European family offices. Bello, who launched the fund with Marsha Wulff and Michael Oluwagbemi, said it delivered a 5.7x DPI (cash return) to its investors, driven by exits and secondaries from Flutterwave and General Atlantic-backed healthtech startup Reliance Health. LoftyInc has expanded its leadership team with its latest fund to keep up with its evolving strategy and growing portfolio, an important move for regional expertise and execution as it invests in startups that require localized support.
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