Nigeria’s startup ecosystem is booming, with Lagos emerging as a leading African tech hub. The country has attracted significant investments, producing unicorns like Flutterwave and PiggyVest. Here’s a summary of 10 top investors driving this growth, based on the article from Tech in Africa:
1. Acuity Venture Partners: Focuses on early-stage startups with a data-driven approach, investing $125K–$725K. Notable investments include Lemonade Finance and Mono. They provide strategic support in governance, analytics, and talent management.
2. Co-Creation Hub (CcHub): Supports social tech ventures improving public services, backed by a $2.4M fund. Operating across six African cities, it has aided over 95 ventures, offering programs like the Make-IT Accelerator.
3. EchoVC Partners: Invests up to $200K in underrepresented sectors like climate tech and health, with $41M deployed. Portfolio highlights include Printivo and the Eco Pilot Fund, emphasizing hands-on support.
4. Verod Kepple Africa Ventures (VKAV): Targets growth-stage startups with $1M–$3M investments, focusing on digital infrastructure and consumer trends. Investments like Moove and Zone showcase their $60M fund’s impact.
5. Oui Capital: Prioritizes diversity, investing $250K–$500K in early-stage ventures. With a portfolio value over $1B, successes include Moniepoint. They offer mentorship and network access through their Mentor’s Pool.
6. Knight Ventures: Runs a 3-month accelerator for pre-seed tech startups, emphasizing fintech and scalability. Supports companies like AZAPAY and fosters ecosystem growth with mentorship networks.
7. Microtraction: Invests $100K for 7% equity in pre-seed startups, with up to $350K follow-on funding. Backing 67 companies, including Intron Health, their portfolio exceeds $750M in value.
8. Ventures Platform: Targets startups addressing unmet needs and infrastructure gaps, backing over 75 ventures like Paystack and PiggyVest. Offers mentorship and investor connections.
9. TLcom Capital: Invests $500K–$10M in scalable tech startups, with a $300M portfolio including Andela and Kobo360. Provides regulatory guidance and market expansion support.
10. Ingressive Capital: Funds pre-seed and seed startups up to $500K, focusing on fintech and marketplaces. Successes like Paystack highlight their extensive support services, including talent recruitment.
These investors fuel Nigeria’s tech scene with capital, mentorship, and networks. In 2024, Nigerian startups raised $218M, 13% of Africa’s total funding, supported by government initiatives like the Nigeria Startup Act and a $618M tech fund. Key sectors like fintech, healthtech, and agritech continue to thrive, positioning Nigeria as a global contender.
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