A $25 million venture debt fund designated for portfolio companies is being launched by Future Africa, a venture capital firm with its headquarters in Lagos, in partnership with TLG Capital, an open-ended credit fund with its headquarters in London. “We have seen how difficult it is for founders to access liquidity, and we are happy to reaffirm TLG Capital’s commitment to Future Africa’s early-stage entrepreneurs”.
After speaking with 13 of Future Africa’s founders, we have observed some common issues, such as businesses dealing with significant currency devaluations in their home markets while seeking U.S. Dollar equity, according to TLG Capital investor Aum Thacker. “
According to Thacker’s quotation, TLG has thus far provided structuring support to 13 of Future Africa’s portfolio companies (though the checks are yet to be written to these startups). They meet certain criteria, Aboyeji said, one of which is that selected startups must generate between $1-$10 million in annual revenue.
