TLcom is an international venture capital firm based in London and presence in Nairobi with a capital base of $300 million. The company has expanded into the West African market setting up base in Lagos, Nigeria. It has also appointed Nigeria’s ex-Minister of Communications Omobola Johnson to be its General Partner for the Nigerian operations.
Omobola will chair the launch event for TLcom new offices in Lagos, and will also take the leading role in all the firm’s activities in West Africa. TLcom has a long-term plan to set up roots within the African venture capital ecosystem and at the same time be able to monitor closely its portfolio companies as it helps them scale up internationally.
Currently, the venture capital firm is nurturing TLcom TIDE (Technology and Innovation for Developing Economies) Africa Fund to identify and invest in fast growth scalable financial services companies. Specifically companies operating in the following space e-commerce, health, education, energy and technology.
Maurizio Caio, the Managing Partner at TLcom Capital LLP said, “We are excited about Omobola joining our team and leading our efforts in West Africa as we look forward to exploring businesses in fundamental markets such as Nigeria and finding entrepreneurs building scalable investable companies.
Our main priority is to further explore Africa related opportunities associated with technology and innovation for value generation.”
Omobola’s appointment ushers a new dawn for the Nigerian startup entrepreneurs, a new relationship between business-to-business, peer-to-peer and government-to-business. Having served as a Government Minister before, there is hope that she will be able to see better the loopholes that are restricting beneficial relationship between the various stakeholders.
She served as Nigeria’s Minister of Communication Technology from 2011 to 2015. During her tenure, the Ministry was able to launch the National Broadband Plan. She also spearheaded the government’s initial involvement in the country’s first government-led venture capital fund and the establishment of a network of startup incubators.
Prior to joining the Nigerian government, she worked for more than 25 years as a consultant with Accenture. During that time, she served as a Country Managing Director for about five years. She was tasked with working with various companies from different industries to transform them into highly competitive and dynamic businesses.