Africa-focused venture capital firm TLcom Capital, known to have made bets on Andela and Twiga, is raising $150 million for its second fund targeted at making early- and late-stage investments.

According to a statement shared with TechCrunch, the firm has reached the first close of $70 million.

It’s almost the equivalent of what TLcom Capital raised in the TIDE Africa Fund, its first fund that achieved its first close in 2017 and final close in February 2020.

-techcrunch