Based in Silicon Valley, with over $175 million under management, Venture Capital firm 500 Startups is looking to make its first set of investments in Nigerian tech companies, Bloomberg reports.
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.
