In an email interview with Bloomberg, venture partner at 500 Startups, Andrea Barrica said, “would like to invest in at least one to two Nigerian tech companies in the next year. Nigeria’s ‘big population and increasing access to technology and payments’ make it an attractive market”.
These “one or two” startups will join 10 others across the continent — in Egypt, Ghana, Kenya and South Africa — which 500 Startups already has investments in. According to Barrica, the firm plans a $200 million fund to invest in such opportunities around the world.
New Report: Nigerian startups raised a combined $38.01m in Q3 2019, just 7% higher than Q3 2018. Download the report.
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