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TLcom Capital appoints Eloho Omame as Partner

Staff writer
July 1, 2022, 6:22 p.m.
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TLcom Capital, an Africa-focused venture capital firm, has appointed Eloho Omame as a Partner.

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TLcom Capital, an Africa-focused venture capital firm, has appointed Eloho Omame as a Partner.

As well as focusing on the firm’s traditional remit of seed to Series B investments in high-growth, tech-enabled startups, Omame will bring more senior capacity to TLcom’s high-touch approach with entrepreneurs and support deal flow generation at the pre-seed stage, as TLcom doubles down on its commitment to Africa’s thriving tech opportunity.

Eloho is a Co-Founder & General Partner at FirstCheck Africa, a female-focused early-stage venture capital firm that has to-date invested in ten high-growth tech start-ups with a female founder or co-founder.

Eloho will combine her new role at TLcom with her existing responsibilities at FirstCheck Africa, which was founded in January 2021 to address the severe funding gap for Africa’s female tech entrepreneurs.

TLcom will also support the launch of FirstCheck Africa’s $10m debut fund with a $2m co-investment commitment from its TIDE Africa Fund II. 

Commenting on her appointment, Omame, said: “It’s an honour to join one of the most prestigious investors in African tech. TLcom has seen the benefits of an early-stage approach through the success of both new and repeat founders in TIDE Africa Fund I. As we deploy capital from TIDE Africa Fund II, it’s crucial that we continue to win the race to find the continent’s best entrepreneurs and support their companies to scale.”

“The firm has always demonstrated its commitment to Africa and to the development of its startup ecosystem. It’s exciting to be in a position of mission-alignment with respect to female founders and I’m thrilled to step up the important work we’ve started at FirstCheck Africa with this incredible show of support from an established, high-calibre fund like TLcom.”

With a professional career spanning more than 20 years, including time at General Atlantic, FirstBank Nigeria and Credit Suisse, Eloho brings a wealth of expertise to the team.

An important contributor to the startup and venture capital ecosystem in Africa, she has worked with several of Africa’s leading entrepreneurs, companies and teams, supporting their ambition to transform the continent’s heavily underserved markets and economies.

As the founding Managing Director of Endeavor Nigeria, she led the company’s mission to drive high-impact entrepreneurship, creating a leading membership community that includes tech founders from pioneering startups such as Paga, Migo and Flutterwave. 

Eloho’s track record in early-stage investing will prove vital as TLcom expands its current portfolio from 13 companies to 30.

With TLcom widening the range of its core ticket sizes to $500k - $15mn, the firm will continue to primarily target seed to Series B founders that are tackling some of the continent’s most complex challenges in sectors including fintech, mobility, agriculture, healthcare, education and ecommerce.

Geographically, TLcom will expand its traditional focus on East and West Africa to include North Africa, starting with Egypt.

Following the first close of its new $150mn fund announced in January 2022, TLcom has gained even greater momentum, with a number of additional commitments to its fund and significant new deal flow for its growing portfolio. The firm recently led a $10mn Series A round in Seamless HR, a Nigerian platform providing payroll and HR software-as-a-service (SaaS) solutions to companies in Africa and a seed round in Pastel, a Nigerian fintech company. 

Maurizio Caio, Founder and Managing Partner at TLcom, said: “With the launch of our new fund, we are more committed than ever to Africa. As we partner with more entrepreneurs, it is vital that we are able to maintain our existing level of high-quality, on-the-ground strategic support to unlock the full value-generation potential of these companies. With our portfolio companies, and our investors, we are building for the long term and fully focused on the upside of the tech sector.”

“We are especially proud to strengthen our team with a Partner of Eloho’s calibre -- a seasoned investor who mirrors our founder-first ethos, and will play a critical role in enabling us to deepen our commitment to the founder journey in Africa through her early-stage experience. Equally, her expertise will prove invaluable in strengthening our existing support for female entrepreneurs. We look forward to working with Eloho to drive the next phase of our mission to transform Africa’s key verticals through tech-enabled solutions.” 

 

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