LoftyInc Capital Management and its global partners have announced the launch of a new US$25 million Afropreneur Fund II following the official close of the Afropreneur Fund 1.
The Afropreneur Fund 1 will be used to provide critical follow-on funding to LoftyInc’s portfolio of companies to power them through their critical phase of growth.
Also, it will power innovation across critical social impact sectors including financial integration, bridging the digital divide and under employment gaps, housing and literacy, et al.
The new Afropreneur Fund II will focus on early stage Africa-facing enterprises that leverage technologies to create social impact and tackle big problems.
“The key goal of the Afropreneur Funds is to leverage these investments for social impact, contributing as much to social change and impact, as to the bottom-line- lifting millions out of poverty, illiteracy, sickness and unemployment,” LoftyInc stated.
LoftyInc Capital Management is a Cayman registered vehicle, and joint venture between LoftyInc Allied Partners Limited and global partners.
Its primary goal is to capitalize on the strengths of its ground game in Sub-Saharan Africa to identify, support and drive the growth of next generation of Frontier Market Unicorns.