Investors in Nigeria tech projects 2024

Investors in Nigeria startups play a key role in the development of innovative businesses and the technology sector in the country, which is Africa’s largest economy. In recent years, Nigeria has attracted significant attention from international investors due to the growing number of talented entrepreneurs and startups that offer innovative solutions in various sectors such as fintech, healthcare, agriculture and energy.
In this article, we will talk about investors, what categories they fall into, and take a look at the best investors in Nigerian startups.

Investors in Nigerian startups


The Nigerian startup ecosystem is booming, attracting the attention of investors from all over the world. This is due to a number of factors including:

  • Fast-growing economy: Nigeria is Africa’s largest economy with a population of over 200 million people. This represents a huge market for startups that offer innovative solutions to local problems.
  • Mobile technology proliferation: Mobile phone penetration in Nigeria is over 80%, which presents new opportunities for startups offering mobile applications and services.
  • Growing middle class: Nigeria has a growing middle class that has more disposable income and is willing to invest in new products and services.
  • Government support: The Nigerian government is undertaking a number of initiatives to support the development of startups, such as incubators and gas pedals.

As a result of these factors, more and more investors are investing in Nigerian startups.

Investors can be categorized into several categories:

  • Angel Investors: Angel investors are individuals who invest their own money in early stage startups. They often look for startups with high growth potential and are willing to risk their money.
  • Venture Capitalists: Venture capitalists are professional investors who manage funds designed to invest in startups. They usually invest in startups at later stages of development, when they already have a proven business model and an experienced management team.
  • Corporate Investors: Corporate investors are large companies that invest in startups to gain access to new technologies or markets.
  • Public Investors: Public investors are government organizations that invest in startups to support economic development.

Startup investors in Nigeria play an important role in supporting the growth and development of the ecosystem. They provide startups with the necessary capital, expertise and connections to help them succeed.

Angel investors

Angel Investors

In the world of startups and innovation, angel investors – people who are willing to invest their capital and expertise in young companies in their early stages of development – are crucial. In Nigeria, Africa’s fast-growing economy, angel investors are becoming an integral part of the startup ecosystem, supporting talented entrepreneurs and fostering innovative progress. In this article, we take a look at some of Nigeria’s leading angel investors whose investments and advice are making a significant impact on local entrepreneurship.

1- Oluwatosin Anastasia Dokunbo (Olutosin Dokunbo).

Oluwatosin Anastasia Dokunbo is a well-known figure in the Nigerian startup community. She is the Founder and Managing Partner of Nigerian Angel Investment Network (NAIN), an organization focused on investing in early stage startups. Oluwatosin actively supports young entrepreneurs by providing funding, mentorship and resources to grow their businesses.

2. Igor Dindo

Igor Dindo is one of the leading angel investors in Nigeria specializing in technology startups. He is the founder and Managing Partner of Dindo Capital Partners, investing in innovative projects in the Information Technology, Finance and Healthcare sectors. Igor is actively involved in the development of Nigeria’s startup ecosystem by facilitating the emergence of new technology solutions and products.

3. Mahmood Dalhatu (Mahmood Dalhatu)

Mahmood Dalhatu is an experienced angel investor and entrepreneur whose investments span a wide range of sectors including energy, agriculture and technology. He actively supports young entrepreneurs by providing not only funding but also his experience and expertise in business and investment.

4. Biola Antoinus (Biola Antoinus).

Biola Antoinus is another prominent angel investor in Nigeria whose investments are fueling the local startup ecosystem. He is the Managing Partner of Biola Antoinus Ventures, a company specializing in funding and mentorship for early stage startups in various industries including technology, education and media.

Venture platforms

Ventures platform

Venture platforms are organizations that invest in early-stage startups in exchange for a stake in the company. They also typically provide startups with operational support, expertise, and access to their networks of contacts. This makes venture capital platforms not only a source of funding, but also a valuable partner for entrepreneurs looking to succeed.

The role of venture capital platforms in Nigeria

In Nigeria, venture capital platforms play an important role in developing the startup community and fostering innovation. These platforms not only provide access to capital for young companies, but also help them overcome the obstacles they face on their path to success.

  • Early-stage funding
    One of the main ways in which venture capital platforms support startups is by providing early stage funding. This allows entrepreneurs to overcome financial hurdles and focus on developing their ideas.
  • Expert mentorship and advice
    Venture platforms also provide startups with access to the expertise and experience of successful entrepreneurs and investors. The mentorship and advice provided by these platforms help startups avoid common mistakes and accelerate their growth.
  • Access to networks of contacts and resources
    Through their extensive networks of contacts, venture capital platforms provide startups with access to potential partners, customers, and investors. They also provide access to a variety of resources such as office space, equipment, and services that may be important to the success of the company.

Examples of venture capital platforms in Nigeria

A few notable venture capital platforms in Nigeria include:

  • Ventures Platform: This is one of the leading venture capital platforms in Nigeria that provides funding, mentorship and acceleration programs for startups in various industries.
    CcHub (Co-creation Hub): This platform focuses on supporting startups in technology and innovation by providing funding, mentorship and infrastructure to grow their businesses.
  • Lagos Angel Network: This is a community of angel investors who invest in early stage startups in Lagos and other parts of Nigeria.

Venture platforms play an important role in the development of Nigeria’s startup ecosystem by providing funding, mentorship and resources for young companies. Their support helps to spur innovation, create jobs and accelerate the country’s economic development.

Corporate investors

Standard Bank

In recent years, there has been an increase in the number of corporate investors investing in Nigerian startups. This has become a new trend that is having a significant impact on the development of the country’s economy.

Why are corporate investors interested in Nigerian startups?

There are a number of reasons why corporate investors are increasingly investing in Nigerian startups:

  1. Access to new technologies: Startups often develop innovative technologies that can be useful to large companies. By investing in startups, corporations can access these technologies and use them to improve their products and services.
  2. Entering new markets: Nigeria is Africa’s largest market with a population of over 200 million people. By investing in Nigerian startups, corporations can access this huge market and expand their customer base.
  3. Stimulating innovation: By investing in startups, corporations can stimulate innovation in their industry. This can lead to the development of new products and services that are beneficial to both consumers and the companies themselves.
  4. Risk mitigation: Investing in startups can be risky, but it can also be very rewarding. Corporations can reduce risks by investing in a portfolio of startups.

What are the benefits of investing in Nigerian startups?

Investing in Nigerian startups can have a number of benefits for corporate investors:

  • High growth potential: The Nigerian economy is growing rapidly and this creates a favorable environment for startups. By investing in startups, corporations can access this growth potential.
  • Access to Talent: Nigeria has a large number of talented people who can work in startups. By investing in startups, corporations can access this talent.
  • Reputation Enhancement: Investing in startups can enhance a company’s reputation as innovative and future-oriented.

Examples of corporate investors in Nigerian startups:

  • MTN: MTN, one of the largest mobile network operators in Africa, invests in Nigerian startups that develop mobile applications and services.
  • Standard Bank: Standard Bank, one of the largest banks in Africa, invests in Nigerian startups that develop financial technology.
  • Shell: Shell, an oil and gas company, is investing in Nigerian startups that are developing clean energy technologies.

Public investors in tech startups in Nigeria


Public investors in Nigeria are actively investing in startups through various funds and support programs. They provide important early stage funding to help companies grow and reach their potential.

Building innovation infrastructure

Public investors also play a key role in building innovation infrastructure such as technology parks, incubators and gas pedals that provide startups with access to the necessary resources and services for their development.

Policy support and regulation

Public investors contribute to the development of policies and regulations that favor the startup community. They work to create incentives for entrepreneurship, simplify the company registration process and reduce bureaucratic hurdles.

Examples of successful initiatives

A few successful initiatives by public investors in Nigeria include:

  • National Startup Development Fund (NSIF): This fund was established to provide financial support to young companies in Nigeria. NSIF invests in a wide range of sectors including technology, healthcare and agriculture.
  • Young Entrepreneurs Support Program (YouWin): This program, launched by the Nigerian government, provides financial support and training to young entrepreneurs to launch and scale their businesses.
  • Lagos Tech Park (Lagos Tech Park): A joint venture between the Lagos government and private investors, this tech park provides infrastructure, mentorship, and access to resources for tech startups.


The importance of investors in startups in Nigeria cannot be understated. They not only provide financial support, but also play a key role in the development of the country’s startup ecosystem. Their investments drive innovation, foster job creation and accelerate economic growth. Thanks to investors, Nigeria is becoming an attractive destination for those seeking opportunities in entrepreneurship and new technology development. Their contributions not only help young companies realize their ideas, but also contribute significantly to the future economic development of the country. Thus, Nigeria’s startup investors play an important role in shaping the country’s innovation landscape and contributing to its prosperity in the global economy.

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