This is first in a 3 part series I am writing about funding in Nigeria. As CEO of a VC backed company, I field so many inbound inquiries and thus end up speaking to many investors. These are very well known investors in Africa, Europe and the Americas and there is a funding gap appearing. A very large and significant one. The series is my personal insight from the last few years. It is definitely incomplete but it’s a simple contribution to a larger issue which has the potential to stunt the Nigerian internet scene forever.
On Monday, I was connecting with a well known series A, emerging market investor about future investments he is likely to make.
PLEASE keep me in the loop on any relevant news / cool companies you come across in Nigeria or elsewhere in Africa. We tend to invest in companies that have hit >$3m in annualized net revenues, so hopefully that gives a sense of what stage we invest at…
Wow. $3m in annualized revenue. Net revenue. Not gross. Net. There are very few ...
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