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.
“Branding and marketing for small businesses” is the theme for the 2nd edition of our SME Clinic. Find out how you can participate here.
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Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.