TLcom Capital’s TAPSI Fund Hits 50% Deployment with $2M TurnStay Investment
TLcom Capital, the Africa-focused venture capital firm, has reached a major milestone in growing its early-stage portfolio through its dedicated $5 million pre-seed fund, TAPSI (TIDE Africa Pre-Seed Investments). With its latest backing of South African travel payment platform TurnStay, fresh from closing a $2 million seed round, TAPSI has now deployed half of its available capital.
Launched in 2022, TAPSI Fund extends TLcom Capital’s investment reach into pre-seed stage ventures, providing up to $200,000 in funding alongside access to the firm’s global network, operational expertise, and over two decades of African venture investing experience. Acting as a feeder for TLcom’s core $154 million TIDE Africa Fund II, the fund gives promising portfolio companies a pathway to larger follow-on rounds.
Beyond TurnStay, TAPSI’s portfolio features startups including Talstack (Nigeria), Bright Financial (Sudan & Ethiopia), Tradehub (Egypt), Agrails (Kenya), and three female-led ventures funded through its partnership with First Check Africa. The fund expects to close up to 10 additional pre-seed investments before the end of 2026, focusing on diverse founding teams in Africa’s major innovation hubs.
TAPSI is sector-agnostic but prioritizes markets with strong potential for outsized impact. Talstack is a case in point—leveraging TAPSI’s early support to validate its model and achieve early traction before securing a seed round from TIDE Fund II in 2024. This approach positions TLcom as a multi-stage investor, with a deep understanding of Africa’s funding lifecycle and the importance of early capital in setting startups on a growth trajectory.
Eloho Omame, Partner at TLcom Capital, said, “Pre-seed investments allow us to expand our portfolio and support founders from the earliest stages through to exit—whether via acquisition or IPO. Building in Africa is not for the faint-hearted, but the likelihood of success increases significantly when we partner with founders early and grow alongside them.”
TLcom’s broader portfolio includes leading African tech names such as Pula, uLesson, Autochek, FairMoney, Educatly, HUB2, ILLA, Littlefish, Seamless HR, and unicorn Andela. With approximately $250 million under management, the firm is committed to empowering ambitious entrepreneurs solving critical challenges in underserved markets.
Omame added, “With TAPSI Fund as a dedicated pre-seed arm, we can back companies from ideation and product-market fit through to scale and maturity, reinforcing our role as a long-term partner to Africa’s most ambitious founders.”
Go to TECHTRENDSKE.co.ke for more tech and business news from the African continent.
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