Venture capitalist in Nigeria and their portfolio

To fund a startup, the best person to meet are the angel investors who will not only give you fund they will also guide you through since they are entrepreneur themselves but what to do when most of them will direct you to their venture firm and also angel investors only provide fund for early stage what if you are already in the middle of your startup?.

These are the questions that come to mind when writing this article which makes us list the venture capitalist in Nigeria with the types and stages of company they invest in to see if you will get a chance.

Business Investment space in Nigeria started booming in 2019 when a lot of Nigerian eyes open to startup.

Before, most of the fund comes from foreign country but right now 1 third of the fund is now generated in Nigeria what a good news to entrepreneur; the requirement of Nigeria capitalist is not as difficult as foreign.

Below are the venture capitalist in Nigeria but before we go into the list I will like you to note the advantages and disadvantages of venture capitalist compare to other source of finance so that you can weigh your options

Merits of venture capitalist

1) No monthly payment

Unlike other source of finance, you don’t need to give back the fund; what you give out is equity which is a good thing for entrepreneur because they can now focus on their startup full time not how to pay interest.

2) Guidance
The real advantage of venture capital is that, they will guide you through the process of creating your business; especially if you are a newbie also you will have access to their pool of networks

3) More funding
Once you are able to secure first funding from venture firm, the second won’t be difficult as they will be eager to provide more though that’s if your startup is growing.

Read more: Best online investment platform in Nigeria

Disadvantages of venture capitalist

1) Loss of ownership

When you give out equity and collect found, you are no longer the sole owner of the business, and if your equity continue to depreciate such that you have less coting right, you can be chased out of the business if the company is not going well.

Most time once you move away from startup going to established business venture capital will try to wrestle power away from you and give it to experienced CEO.

2) It takes time
It takes time before you can close venture round, they are not the go too, if you need a fund urgently.

You must have something going
Even if it is prototype with some paying customers, venture capitals will want to see already established business.

3) Bias
Venture capitals are bias towards experience entrepreneur, if you and an experience entrepreneur source for fund from the same company, they will give it to experienced entrepreneur even if his or her business has loop hole.

Venture capitalist or firm in Nigeria

1) Venture platform
Venture platform was established by Kola Aina an angel investor. They invest on post MVP (minimum viable product) startup that has traction already, if your startup has no customers or prototype please do not go to them, you will only waste your time.

Venture platform portfolio

  • Piggybank
  • Gerocare
  • Accounteer
  • Jalo
  • Wesabi
  • Mobileforms

2) Spark capital
Spark capital see themselves as company that builds company, it was founded by Jason Njoku the founder of Iroko T.V. They invest mostly in market place startup since Iroko T.V is a marketplace itself.

Before applying make sure you have a scalable revenue model.

Their portfolio include

  • Hotels ng
  • Paystack
  • Ogavenue
  • Drinks ng
  • Medsaf

Read more: Top 16 logistics company in Nigeria

3) Green house Capitals
It was founded in 2016 by Venture Garden with the aim of providing fund for Fintech, when looking at their portfolio we found out that they also provide fund for other sectors but it is minimal, you can shoot your shot if you are in other sector.

Their portfolio include

  • Flutter wave
  • Max ng
  • Riby
  • Talent base
  • Resource

4) Micro traction
Micro traction was founded by Yele Bademosi and has it focus on business that uses technology and that are playing in a billion dollar market.

Their investment is hassle free it takes less time compares to other. They give $25,000 for 7% equity.

Their portfolio includes

  • Cowrywise
  • Buycoins
  • Wallet ng
  • Thank you cash

5) LAN (Lagos Angel Network)
Lagos angel network is a group of angle with common interest. Together they serve as a venture capitalist and invest in an early stage business. Their investment cut across all industries.

6) Growth capital fund
Growth capital aim is to fund early stage startup or business making social impact. They are social innovation investor in partner with bank of Industry and Omidyar network.

Their portfolio include

  • Taeilo
  • Egdes
  • Riby
  • Life bank
  • Delivery science
  • Drugstoc

7) Green tree Investment Company
It was founded in 2014 to help startup access fund and not only that they also provide financial and legal advice which is the major problem in startup.

Their portfolio include

  • Paystack
  • Precurio
  • Big cabal media (Techcabal)

8) EchoVc partners
EchoVc invest in early stage startup and also provide seed capital to non-revenue startup. If you are accepted you will enjoy their connection with international company and Silicon valley.

They invest mostly in startup that deals with final consumer.

Some of their portfolios are

  • Hotels ng
  • Cars 45
  • Lifebank
  • Mypadi
  • Printivo

9) SLA Accelerator
SLA Accelerator aim is to provide fund and guide to newbie female entrepreneur.

Once you are accepted you will be made to go into 3 month training where you will be taught nitty gritty of startup.

Read more: How to buy and sell bitcoin in Nigeria

10) Leadpath
Leadpath focus on tech entrepreneur, they focus on entrepreneurs not startup because they believe entrepreneurs are the beginning and the end of a startup.

If you do not have passion for your business do not go to them you will just waste your time.
Their portfolio include

  • Piggyvest
  • Mono
  • Paystack
  • Pushcv
  • Teamapt

11) Unique venture capital
Unique venture capital is only venture capital in Nigeria that focuses on SME. It was established in 2004 by five major banks in Nigeria.

Recently because of their capability they were selected by world bank to act as fund manager for SME business in Liberia and Sierra Leone.

12) TLcom capital
Tlcom does not only provide fund for entrepreneurs they also provide financial, strategic and operational support. It has been operating since 1999 and their portfolio include

  • Andela
  • Ilara health
  • Kobo
  • Twiga

13) Ingressive capital
Ingressive capital was founded by Maya Horgan Famodu with the aim of providing fund for startup in Egypt and sub-Saharan Africa; they invest about $400,000 in pre seed startup and post seed startup for 10% equity

Portfolio includes

  • Banboo
  • Oga venue
  • 54gene
  • Mono
  • Onepipe
  • Seamless HR
  • Tizeti
  • OZE
  • Kwaba
  • Vesicash

14) Oui capital
Oui capital was founded in 2018 by olu oyinsan, they invest about $50,000 to $150,000 to post seed and series A startup, not only that that also provide guidance and advice.

Their portfolio include

  • Akiba
  • OKHi
  • Vite
  • DR CADX
  • Twende
  • Awa Bike
  • MVXchnge
  • TeamApt

15) Chrysalis capital
It was founded in 2019 by Nichole Yembra with the aim of providing found for early stage startup.

They mostly invest in health, agriculture and education sectors.

Some of their portfolios are

  • Helium health
  • Raise
  • Bamboo

16) Firstcheck Africa
Firstcheck was founded by Eloho Oname and Odunayo Eweniyi when they observe that women are lagging behind in business sector. Firstcheck help women to start their business and scale it with $25,000 as a seed capital.

17) Future Africa
Future Africa was founded by Inyin Aboyeji the cofounde of Andela and Fluterwave with the aim of providing capital and guide to early stage startup in Nigeria.

Some of the startup in their portfolio includes

  • 54gene
  • Bamboo rise
  • Eden
  • Evolve credit
  • Chaka
  • Rise
  • Andela
  • Flutterwave

 

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