FinTech news in Future Africa category

Lagos-headquartered venture capital firm Future Africa is teaming up with TLG Capital, a London-based open-ended credit fund, to launch a $25 million venture debt fund earmarked for portfolio companies. Debt funding activity may have slowed down this year, but Future Africa founder and general partner Iyinoluwa Aboyeji told journalist that the cost and risk appetite of equity capital coupled with rising interest rates will push founders toward embracing debt to run startup operations. Future Africa intends to leverage the credit fund’s debt experience to build out this venture debt program. As Thacker’s quote reads, the structuring support from TLG has been offered to 13 of Future Africa’s portfolio companies so far (though the checks are yet to be written to these startups).