TLG Capital manages private credit strategies that partner with African banks to refinance or restructure loans for viable SMEs and to provide tailored debt solutions. The firm’s approach combines capital with hands-on operational support to stabilize businesses across sectors such as manufacturing, healthcare, agriculture, and telecoms, aiming to preserve jobs and crowd in additional private capital.
Portfolio Focus
Asset class
Private Credit
Impact theme
Economic Opportunity & Inclusion
Financial & Economic Inclusion
SME & Growth Enterprise Development
Equity, Representation & Justice
Gender Equity
Investment geographies
Africa
Key people
Ayoola Abdul-Basit Oladipupo
Investment Professional
Declan Ee
Principal
Isaac Marshall
Investment Professional
Isha Doshi
Partner & CFO
Africa Growth Impact Fund I (AGIF I)
Raised: $50 millionUK
Asset class:Private Credit
Impact theme:Health, Education & Wellbeing
+6
Investment geographies:Africa
About the fund
Launched in 2016, TLG’s Africa Growth Impact Fund I (AGIF I) is an open-ended credit fund with a mandate to invest in African SMEs. AGIF I provides flexible private credit and advisory support to distressed but viable African SMEs, aiming to unlock growth, sustain jobs, and deliver inclusive economic impact across sub-Saharan Africa. AGIF I has a special focus on healthcare, finance, and consumer sectors and applies a Gender 2x framework to its investments.
Africa Growth Impact Fund II is a closed-ended private debt vehicle managed by London-based TLG Capital that provides dollar-denominated loans to small and mid-sized businesses across Africa's least-developed markets, including Benin, Togo, Guinea, and Djibouti. The fund addresses a critical financing gap by offering multi-year loans ranging from $5 million to $20 million to enterprises that cannot access such financing from local banks.
The fund employs a distinctive structure through partnerships with local banks, which provide standby letters of credit as guarantees for businesses with proven track records but limited access to dollar financing. Africa Growth Impact Fund II reached a first close of over $82 million in April 2023 and has approximately $18 million in additional commitments for its second close expected in March, continuing its fundraising toward the $200 million target. Current investors include development finance institutions, multilateral organizations such as the International Finance Corporation, and family offices.
International Finance Corporation (IFC)
