Cyril Shonibare, Principal at TLcom Capital—one of Africa’s largest early-stage VC funds—sits down with Launch Base Africa to discuss the firm’s deployment strategy, the collapse of open banking pioneer Okra, and hard-won lessons in early-stage African venture capital.
Beyond financial efficiency, Leta’s asset-light approach sets it apart from earlier African logistics startups such as Sendy, Lori, and KOBO360, which took an asset-heavy model aggregating trucks and acting as intermediaries.
The increase in deposits from R6.3bn ($347.11m) in June 2024 reflects the continued growth of the digital lender, which reached a milestone of 10.7m customers by the end of December.
A brokerage licence grants firms the authority to buy and sell securities on behalf of clients, act as intermediaries in financial markets, and charge commissions and fees.
The Averroès Fund of Funds operates as an intermediary, strategically investing in various African-based funds rather than directly into individual companies.
This latest commitment from BII follows the fund’s initial close last year, which saw it raise $140 million from a diverse range of international and African investors.
Launch Base Africa has carefully selected a comprehensive list of over 140 of the most recent investor dry powder funds aimed at African startups in 2025.
Cyril Shonibare, Principal at TLcom Capital—one of Africa’s largest early-stage VC funds—sits down with Launch Base Africa to discuss the firm’s deployment strategy, the collapse of open banking pioneer Okra, and hard-won lessons in early-stage African venture capital.
