CDC's investment in TIDE underlines our commitment to supporting innovation geared towards delivering large scale development outcomes for consumers, suppliers, small-scale entrepreneurs, and their employees in sub-Saharan Africa. By supporting a venture capital fund that is backing innovative and highly scalable companies in Africa, CDC can play a catalytic role in supporting the development of entrepreneurial ecosystems. The rapid growth of these companies will be crucial to absorb the growing working-age population and solve specific market challenges facing businesses and consumers.
Promote economic opportunities by creating jobs and enhancing access to more affordable goods and services for productive use (SDG targets 8.5, 1.4)
CDC's commitment will support TIDE to invest in highly scalable early stage companies. TIDE will support their growth and large-scale employment creation, both directly and through the services they provide to other market stakeholders. By achieving exits and top quartile financial returns, the fund can help demonstrate the viability of venture capital investing in sub-Saharan Africa and mobilise more capital in this segment. It will take five to ten years and repeat financial success of investors such as TLcom for other commercial investors to enter the venture capital segment in sub-Saharan Africa.
|Suppliers, employees, and consumers||
Sub-Saharan Africa (primarily Nigeria and Kenya)
Primarily low-income and middle-income.
To help us direct our investments, we use a tool called the Development Impact Grid. The Grid scores every investment we plan out of a score of four, based on two factors: the difficulty of investing in the country and whether investment in that sector will lead to jobs.
Environmental and social aspects
We are working closely with the fund manager to improve its existing environmental and social management system, including delivering an action plan.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Africa, Southern Africa
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.
- Communications and IT Services, Education, Financial services, Health
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Tide Africa GP LP
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- December 2019
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
Investments made by this fund
|Investment name||Country||Region||Sector||Start date||Status|
|Ajua||Kenya||Africa, East Africa||Communications and IT Services||October 2017||Active|
|Terragon||Nigeria||Africa, West Africa||Communications and IT Services||May 2018||Active|
|Kobo 360||Nigeria||Africa, West Africa||Communications and IT Services||November 2018||Active|
|twiga Foods||Kenya||Africa, East Africa||Communications and IT Services||November 2018||Active|
uLesson is one of the largest and fastest-growing online learning platform in West Africa. The platform leverages best in-class teachers, media, and technology to create high-quality, affordable and accessible education for African students.
|Kenya||Africa, East Africa||Education||November 2019||Active|
Okra is a Nigerian fintech startup, which allows individuals to connect their bank accounts directly to third party applications.
|Nigeria||Africa, West Africa||Communications and IT Services||March 2020||Active|
|Shara||Africa||Communications and IT Services||May 2020||Active|
Ilara Health Inc
Ilara Health produces diagnostic equipment for doctors and hospitals in Africa. Its products enable tests to be carried out in doctors' surgeries without the need for people to visit labs
|Kenya||Africa, East Africa||Health||September 2020||Active|
Pula is an agricultural insurance and technology company that designs and delivers innovative agricultural insurance and digital products. It aims to help smallholder farmers endure yield risks, improve their farming practices, and bolster their incomes over time.
|Kenya||Africa, East Africa||Financial services||October 2020||Active|
Vee8 International Holdings Inc
V8 works with work with entrepreneurs in Africa and provides them with tools, resources, knowledge and expertise.
|Nigeria||Africa, West Africa||Communications and IT Services||December 2020||Active|