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Future Africa partners TLG Capital to launch $25M venture debt fund for startups

Future Africa partners TLG Capital to launch $25M venture debt fund for startups

African early-stage VC firm, Future Africa has partnered with London-based open-ended credit fund, TLG Capital to launch a $25 million venture debt fund designated for portfolio startups.

The fund created from TLG’s existing funds is intended to help Future Africa’s portfolio companies preserve their runway in an increasingly tight fundraising environment.

The structuring support from TLG has already been offered to 13 of Future Africa’s portfolio companies so far (though the checks are yet to be written to these startups). Part of the criteria for funding is that selected startups must generate between $1-$10 million in annual revenue.

According to a statement, TLG Capital will structure the debt in such a way that they are asset-backed and based on “proper fundamentals.” The firm will also work closely with the CFOs of Future Africa’s portfolio to prepare them to: maintain proper records and financial discipline, achieve proper unit economics and receive and manage leverage on their books.

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