Active investor playmakers driving in-country investment in Nigeria
January 3, 2023722 views0 comments
By Alexander Chiejina
- Nigeria’s tech and innovation space enjoying beautiful bride-like attraction
The tech ecosystem in Nigeria has continued to witness tremendous growth over the last five to ten years, a development that can be traced to increased local and international capital inflow in the form of venture capital into the tech subsector.
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While Nigeria has remained a dominant force in the tech space and has consistently accounted for a majority of funding that comes to the African continent, factors such as huge market opportunity for tech; Attractive startup cities; High investment inflow; Innovation within the sub-sectors; Observed expansion trends and Unicorns produced in the space, are major drivers catalysing this growth, according to JICA 2021 report.
Given the huge traction which Nigeria tech ecosystem holds for the African continent, below are the active investors that play key roles in driving in-country tech investments:
|
No |
Investor |
Location |
Summary of institution |
|
1 |
Acumen Fund Nigeria |
Lagos |
Invests in companies that are changing the way the world tackles poverty. The fund has invested in Nigerian mobile money transfer Paga. |
|
2 |
Adlevo Capital |
Lagos |
A private equity fund manager. Prominent investments made in Nigeria include Paga and Interswitch. |
|
3 |
Alitheia Capital |
Lagos |
A Nigerian firm that offers financing and entrepreneurial support to businesses that are working to meet a real business, social, or environmental need |
|
4 |
Bamboo Capital Partners |
Nairobi |
Launched in 2017, the firm has about US$290 million under management with a portfolio of 33 companies in over 20 countries. The firm makes investments in energy, healthcare and financial services globally. |
|
5 |
EchoVC Partners |
Lagos |
A seed and early stage venture capital firm focused on financing and cross-pollinating leading technologies, teams, business models and knowledge across North America, Africa and Southeast Asia. |
|
6 |
Growth Capital Fund |
Lagos |
Nigeria’s first social innovation fund aimed at creating an unprecedented path to scale for outliers driving social change in Nigeria |
|
7 |
Helios Investment Partners |
Lagos |
An Africa-focused private investment established in 2004 and led by co-founding partners Tope Lawani and Babatunde Soyoye |
|
8 |
Jacana Partners |
Nairobi, and Accra |
A pan-African private equity company that invests in entrepreneurs, builds successful small companies and delivers sustainable financial and social returns. |
|
9 |
Lagos Angel Network |
Lagos |
Organizes seed funders to invest in startups through pitch events in which pre-screened business ideas are presented to the network by entrepreneurs. |
|
10 |
MicroTraction |
Lagos |
The fund invests in Africa’s most remarkable teams with technical founders at the earliest stage of their venture. It invest US$15,000 for 7.5% equity stake, followed by an additional $50,000 convertible note at a $1 million valuation cap in companies that show significant progress after the initial investment |
|
11 |
Newid Capital |
US |
Invests internationally in growth-oriented financial services companies serving the under-banked. |
|
12 |
Sanaga Ventures |
Amsterdam |
A fund founded in 2010 that actively invests in and supports new and emerging ventures across the African continent |
|
13 |
Savannah Fund Nigeria |
Nairobi |
A seed capital fund, specialising in US$25,000 to US$500,000 investments in early-stage, high-growth tech startups in sub-Saharan Africa. The fund has invested in Nigerian startups Supermart.ng, and Lidya. |
|
14 |
Spark |
Lagos |
A company builder and investment group whose portfolio includes Drinks.ng, Hotels.ng, Paystack and Ogavenue. |
|
15 |
SSE Angel Network |
Port Harcourt |
SSE Angel Network Members mentor, support and invest in founders (especially those in the South-South/South-East, Nigeria) building innovative businesses that provide jobs, opportunities and contribute to the prosperity and development of Nigeria. |
|
16 |
Synergy Capital |
Lagos |
A Lagos-based private equity firm that invests in technology startups as well as traditional businesses |
|
17 |
Tekton Ventures |
US |
A Silicon Valley based investment firm which makes early stage investments in category defining startups around the world. The firm has invested in Nigerian startup Flutterwave. |
|
18 |
The Omidyar Network |
Nairobi |
An impact investment firm established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the institution reports it has committed more than US$992 million to nonprofit organizations and for-profit companies across multiple investment areas |
|
19 |
Tiger Global |
US |
: A global firm that has been investing heavily in Africa in recent years. The firm deploys capital in both private equity partnerships and public equity funds. The company favours technology or internet related business. It is one of the largest investors in Nigeria’s iROKO Partners. |
|
20 |
TLcom Capital Lagos |
Lagos, Nairobi, and London. |
Since 1999, the VC firm has invested in telecoms, media and tech companies in Europe, Israel and Sub-Saharan Africa. TLcom manages total commitments in excess of €200-million. |
|
21 |
Ventures Platform |
Lagos |
An early-stage growth focused fund which supports post MVP teams in growing their startups. |
|
22 |
VestedWorld |
US |
Invests in early stage companies demonstrating potential for long-term success and measurable impact. The firm’s Nigeria portfolio includes Tomato Jos, and Beacon Power Services |
|
33 |
Village Capital |
US |
A VC that finds, trains, and funds entrepreneurs developing solutions in agriculture, education, energy, financial inclusion, and health. The firm’s portfolio includes Nigerian company Lekki Peninsula Affordable Schools. |
Source: Ventureburn