Africa-focused venture capital firm TLcom Capital has achieved a key milestone with its $5 million pre-seed fund, TAPSI (TIDE Africa Pre-Seed Investments), reaching 50% deployment. The latest investment in South African travel payment platform TurnStay, which recently closed a $2 million seed round, marks this halfway point. TAPSI was launched to extend TLcom’s reach into the earliest stages of Africa’s venture ecosystem while providing a pipeline to the firm’s larger growth funds.
Expanding into Early-Stage Ventures
Established in 2022, TAPSI provides up to $200,000 in funding to promising pre-seed startups across the continent. In addition to capital, portfolio companies gain access to TLcom’s global network, operational resources, and more than two decades of African venture investment experience. Acting as a feeder for the firm’s $154 million TIDE Africa Fund II, the initiative creates a structured pathway for early-stage companies to progress toward larger rounds.
A Diverse and Growing Portfolio
Beyond TurnStay, TAPSI’s portfolio includes Nigeria’s Talstack, Sudan and Ethiopia’s Bright Financial, Egypt’s Tradehub, Kenya’s Agrails, and three female-led ventures funded through a partnership with First Check Africa. These companies span multiple sectors, reflecting TAPSI’s sector-agnostic approach while maintaining a focus on high-impact opportunities. The fund plans to close up to 10 more pre-seed investments by the end of 2026, concentrating on Africa’s major innovation hubs.
Early Support Leading to Scale
TAPSI’s model has already produced success stories within TLcom’s broader portfolio. Talstack used its early funding to validate its business model and secure early traction, later progressing to a seed round backed by TIDE Africa Fund II in 2024. This multi-stage investment strategy strengthens TLcom’s ability to guide startups through the full growth cycle, from ideation to exit.
Strategic Importance of Pre-Seed Capital
According to Eloho Omame, Partner at TLcom Capital, early-stage investments play a critical role in building long-term success. “Pre-seed investments allow us to expand our portfolio and support founders from the earliest stages through to exit—whether via acquisition or IPO,” she said. “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.”
Backing Africa’s Ambitious Founders
TLcom Capital’s broader portfolio includes leading African technology companies such as Pula, uLesson, Autochek, FairMoney, Educatly, HUB2, ILLA, Littlefish, Seamless HR, and unicorn Andela. With approximately $250 million in assets under management, the firm is committed to empowering entrepreneurs solving critical challenges in underserved markets.
Long-Term Partnership Approach
Omame emphasized that the TAPSI Fund reinforces TLcom’s role as a long-term partner to Africa’s most ambitious founders. “With TAPSI Fund as a dedicated pre-seed arm, we can back companies from ideation and product-market fit through to scale and maturity,” she said. This commitment ensures that promising startups have the resources, mentorship, and follow-on funding they need to succeed.
By reaching the halfway point in capital deployment, TLcom Capital’s TAPSI Fund has solidified its position as a strategic entry point for African startups seeking early support and long-term growth. The TurnStay investment underscores the fund’s ability to identify and back high-potential ventures across diverse markets and sectors. With further investments planned through 2026, TAPSI is set to play a pivotal role in shaping Africa’s next generation of high-impact companies.