TLcom’s TAPSI Fund Reaches 50% Deployment with TurnStay
TLcom Capital’s $5M TAPSI pre-seed fund has invested in TurnStay, reaching 50% deployment and backing early-stage startups across Africa...
✨ Key Highlights
TLcom Capital's TAPSI Fund, a $5 million pre-seed investment vehicle, has reached 50% deployment with its participation in the $2 million seed round of South African travel payments platform TurnStay. Launched in 2022, TAPSI provides African startups with up to $200,000 in pre-seed funding, serving as a direct pipeline to TLcom's larger $154 million TIDE Africa Fund II.
- TurnStay, the latest addition to the TAPSI portfolio, tackles cross-border payments in the African travel sector, enabling merchants to accept payments in travellers' home currencies and settling locally in stablecoins, reducing processing fees by up to 70%.
- The TAPSI portfolio includes startups across various markets and sectors, such as Nigeria’s Talstack, Sudan- and Ethiopia-focused Bright Financial, Egypt’s Tradehub, and Kenya’s Agrails.
- Partner at TLcom Capital, Eloho Omame, emphasized the pre-seed strategy's importance in expanding their portfolio and supporting founders early in their journeys to build significant value.
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Vertiv, Yellow Card, and TLcom Capital Announce Expansions and Investments in Africa - August 2025
Several companies are making strategic moves in African markets. Vertiv, a global critical digital infrastructure provider, is significantly expanding its presence in Africa, focusing on developing AI-ready data centers and sustainable power solutions. In the financial technology sector, Yellow Card appointed Gillian Darko as its new Vice President of Strategy to drive its long-term planning and stablecoin expansion in new markets. Meanwhile, venture capital firm TLcom Capital's $5 million TAPSI Fund has reached 50% deployment. This milestone was achieved through its participation in the $2 million seed round of South African travel payments platform TurnStay. The TAPSI Fund, launched in 2022, provides up to $200,000 in pre-seed funding to African startups.