TBL Mirror Fund

TBL Mirror Fund is a venture capital and private equity firm based in Nairobi, Kenya, with an additional office in Kortenhoef, Netherlands. It focuses on investing in small and medium-sized enterprises in East Africa and Nigeria, primarily through equity or quasi-equity instruments and does not engage in debt financing. The firm targets early to mid-stage companies across information and communications technology, healthcare, and consumer goods sectors, including software, business process outsourcing, IT services, telecom infrastructure, mobile operator services, pharmaceuticals and medical services, clinics and hospitals, and logistics and retail. Typical investment sizes range from €100,000 to €3.5 million, with a preference for €500,000 to €1 million, and investments often accompany board representation and significant minority stakes. The partnership aims for five to seven-year hold periods and seeks to co-invest with strategic investors and partners to add value through hands-on involvement and expertise.

Moses Kimani

Investment Analyst

Robert-Jan Van Ogtrop

Co-Founder, Chairman (Fund 1 and 2) and Investment Committee Member

Past deals in Kenya

Cellulant

Series C in 2018
Cellulant Corporation is a prominent multinational payments company headquartered in Nairobi, Kenya, focused on digitizing payments across Africa's major economies. Founded in 2004, Cellulant offers a comprehensive mobile payments platform that connects businesses and governments, facilitating various consumer payment solutions. Its key products include Mula, a versatile payment platform; Agrikore, a blockchain-based tool designed for the agriculture sector that streamlines contracting and digital payments; and Tingg, which enables users to manage card, bank, and bill payments seamlessly. By providing locally relevant payment solutions, Cellulant addresses the intricate needs of global, regional, and local merchants, making it easier for them to collect and make payments in multiple currencies.

Cellulant

Venture Round in 2011
Cellulant Corporation is a prominent multinational payments company headquartered in Nairobi, Kenya, focused on digitizing payments across Africa's major economies. Founded in 2004, Cellulant offers a comprehensive mobile payments platform that connects businesses and governments, facilitating various consumer payment solutions. Its key products include Mula, a versatile payment platform; Agrikore, a blockchain-based tool designed for the agriculture sector that streamlines contracting and digital payments; and Tingg, which enables users to manage card, bank, and bill payments seamlessly. By providing locally relevant payment solutions, Cellulant addresses the intricate needs of global, regional, and local merchants, making it easier for them to collect and make payments in multiple currencies.

TKM Maestro

Venture Round in 2010
TKM Maestro Limited is a provider of design-build solutions for telecommunication and infrastructure projects, catering to both private and public corporations. Established in 2002 and headquartered in Nairobi, Kenya, the company offers a comprehensive range of services, including engineering design, tower and site design, structural evaluations, and the installation and commissioning of telecom equipment. TKM Maestro specializes in various telecom infrastructure services such as optical fiber installation, BTS installation, and network design, ensuring efficient construction planning and management. The company also provides site acquisition services and independent soil and material testing consultations. With regional offices in Uganda, Tanzania, Rwanda, Ghana, South Sudan, and Congo DRC, TKM Maestro is positioned to meet the needs of diverse markets, including wireless networks, broadcasting, and broadband, while emphasizing innovative and cutting-edge solutions in structural design and value engineering.

Meridian Medical Center

Venture Round in 2008
Meridian Medical Center operates a network of healthcare clinics in Nairobi, Kenya, providing outpatient medical services to individuals, families, and organizations. The center offers a range of clinical services delivered by qualified doctors, including consultations, diagnostics, and therapeutics, all supported by in-house laboratories. Meridian Medical Center specializes in various medical examinations, such as pre-employment, insurance, and food handlers' assessments, alongside occupational health services. Additionally, the center promotes health through immunizations, travel health advice, and health education initiatives. By catering to both corporate and individual clients, Meridian Medical Center aims to deliver comprehensive and affordable healthcare solutions to the community.
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