Yesterday, there was news floating about a group of individuals interested in investing the sum of ₦2 million in early-stage startups for a certain percentage of equity in the resulting company. One of the angel investors, Bamidele Aremu confirmed the news.
Coming together to form an angel investment group, the investors are quite keen to invest in app development or in technology-driven startups. In other words, the investment is not applicable to mere ideas but practical solutions that are already in existence.
Interested applicants are expected to send in a 5-page presentation to [email protected], stating their business SWOT, how they intend to expend the investment provided, their company history and projects completed, projection on profitability, shareholding offer, and any other relevant information that will help their pitch.
Shortlisted applicants will be called for an in-person pitch. After the pitch, successful applicants along with the angel investors will then proceed to agree on the value of equity to be exchanged for the investment before signing a non-disclosure agreement that ensures no discussion or ideas slip out.
It is not everyday you find a group of individuals who run their own businesses and are willing to invest in startups. So let’s hope that this proves useful to successful applicants.
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New Report: Nigerian startups raised $24.7 million in Q2 2019, 40% higher than Q1. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.
Lead Venture Analyst at Techpoint. Eager to tell startup stories that offer Nigerians the much needed creative solutions to relate-able problems. Get in touch.