First up. Oo was the evangelist who brought we angel investors great riches. For that, we bless him and wish his days to be long.
The angels who invested in the seed round of Paystack back in 2016 made ~1,440% ROI. That's x14.4 their money in only 5 years. Paystack raised at various SAFE valuations between $5m and $10m. Most of the people in my network invested at $7m valuation cap (which we all agree at the time seemed a bit rich), but Oo was convincing and Shola seemed like he knew what he was doing. The $1.3m from angel investors' total return, although I asked many different ways Shola wouldn't tell me, was between $13-17m by my calculation. In USD o, so protected from the macro devaluations and inflation destroying so much value from this region. This was the kind of deal the ecosystem had been yearning for all these years and the most likely candidate was always going to be Paystack. For all intents and purposes it was a question of when and how much in most people's m...