TLcom Capital

The fund will back early-stage, high-growth startups in sub-Saharan Africa.

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London and Nairobi-based venture firm TLcom Capital has raised $40 million for its new Africa fund. The target is $100 million. TIDE Africa Fund will focus on tech startups in Sub-Saharan Africa. The investors include African Development Bank, the European Investment Bank and FBN Capital. The fund will make investments between $500,000 and $10 million per company.

Upstream Systems has attracted backing from London's TLcom Capital and Greek investor Alpha Ventures as it seeks to take advantage of rapid growth in the mobile marketing industry.

After battling through the wreckage of European venture’s post dotcom bubble landscape, TLcom has secured four reference investors to take the firm on to the next phase in its growth.

IXI lands TLcom Capital investment; BIDSA takes Astral Piscinas minority stake

CommProve, an Irish-based network monitoring systems provider, has raised $4 million from return investors TLcom Capital, TVM Capital and Endeavour Vision. The funding will be used to expand the company. CommProve also has offices in the UK, Italy, Brazil and the U.S.

Fund-raising news about Intel Capital, Foundation Capital, Alta Communications, GGV Capital, CMEA Ventures, Helion Venture Partners, DFJ VinaCapital, Emergence, Maveron, iNovia Capital, Incubation Venture Partners, FTVentures, TLcom Capital, Squadron Capital, Permavest Investment, InterWest Partners and RiverVest Venture Partners

New York-based Cuebiq, a location intelligence and consumer insights company, has secured $27 million in Series B financing. The investors included Goldman Sachs Principal Strategic Investments, Nasdaq Ventures, DRW Venture Capital, Tribeca Venture Partners, Tribeca Angels and TLcom Capital. In conjunction with the funding, Brian Hirsch, co-founder and managing partner at Tribeca Venture Partners and Marco DeMeireles, head of private investments at Balyasny Asset Management, have joined Cuebiq’s board of directors.

Andela, the company that recruits and trains software developers in Africa, has secured $40 million in Series C funding. CRE Venture Capital led the round with participation from other investors that included DBL Partners, Amplo, Salesforce Ventures, TLcom Capital, Chan Zuckerberg Initiative, GV and Spark Capital.

BlackBerry Ltd has acquired a U.K.-based mobile technology start-up whose software allows users to have multiple phone numbers on the same device, Reuters reported. The purchase of Movirtu helps BlackBerry ramp up its portfolio of services to cater to the needs of its core base of corporate and government clients. Movirtu is a portfolio company of British venture capital firm TLcom Capital and the U.S.-based Gray Ghost Ventures.

Site Intelligence, a UK-based developer of online analytics software, has closed on $7 million from Nauta Capital, Oxford Capital Partners and existing shareholders, the company said Thursday. The money will be used for growth. Carles Ferrer and Al Sisto from Nauta Capital, and Colin Watts from Oxford Capital Partners, all join the Site Intelligence Board as part of this funding round.

Personnel moves at Evolution Group, DN Capital, Energy Ventures, Balderton Capital, Heidrick & Struggles, Avista Capital Partners, Core Capital, BC Partners, Jefferies & Co., Oxford Capital Partners, Clayton, Dubilier & Rice and Kaye Scholer

Mobile marketing firm raises €11m