I have written earlier on this blog about Venture Capital funding in Nigeria here - 4 reason why Nigerian startups aren't funded. As the title indicates, it wasn't a nice article to write because it spots failures of Nigerian Entrepreneurs, Investors and the country's infrastructure in general.
The truth is, there are some Venture Capital firms in Nigeria, though they hardly focus on Internet or technology startups. They are mostly into telecom, oil industry and services. I still think they are worth giving a short if you are confident with what you are building and the market size is HUGE! Yeah, you need a huge market for the kind of returns these VCs are looking for.
So if you are focusing your startup on Nigeria alone, then I am not sure if you should approach these Venture Capitalist because they make investments of around $10 million which is too large for a small market focus.
Anyway... Here is a list of some some Venture Capital firms focussed on Nigeria.
1. Travant Capital
2. Adlevo Capital
3. Menlo Ventures
4. Providence Equity Partners LLC
5. African Capital Allowance
So goodluck on pitching.
Most Importantly Find Angel Investors first. Rich people you know and try to explain your idea or project and see if you can make them understand.
1 comment:
Actually I read it yesterday but I had some thoughts about it and today I wanted to read it again because it is very well written. Adrian Morrison
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