Top 18 VC Funds and Angel Investors in Nigeria
- Sotirios Seridis
- Feb 10
- 8 min read
The Nigerian startup ecosystem is ripe for investment. Setting new record rounds, Nigeria has displayed significant growth in its ecosystem as well as increased investor trust in Nigerian enterprises. The country now draws the most investment of any African country, rivaling other large ecosystems such as South Africa and Egypt. The local investment scene is well-established and active in early-stage investments, whilst later-stage businesses can turn to international investors for further rounds. The robust local angel investor culture is also worth noting, with successful entrepreneurs willing to fund and mentor the next-generation founders. Nigeria is the continent's principal startup hub offering a lot of promises. In this article, we have compiled a comprehensive list of the top VC funds and angel investors in Nigeria that may be the right funding partner for you!
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Venture Capitalist Funds in Nigeria
The venture capitalist funds below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year of Inception: 2017
Stage: Pre Seed
Focus: Technology
Notable Portfolio: Wallet.ng, Schoolable, Sendbox, 54gene, Chaka, BuyCoins
Microtraction offers the most accessible pre-seed investment for early-stage, African technology startups. They invest at a minimum USD100,000 and offer professional and consulting services to portfolio startups. They also assist startups in connecting with later-stage investors and securing further rounds of investment.
Year of Inception: 2015
Stage: Pre Seed, Seed
Focus: Social Impact
Notable Portfolio: Paystack, Lemonade Finance, Brass, Migo, SeamlessHR
Ventures Platform is an early-stage VC that invests in mission-driven African technology startups that are shaping the continent's future. They are interested in innovators developing capital-efficient platforms that democratize wealth, bridge infrastructure gaps, connect marginalized people, address non-consumption, and enhance livelihoods in Africa.
Year of Inception: 2017
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: Paystack, Bamboo, Jetstream, 54gene, Carry1st
Ingressive Capital invests in the next generation of African entrepreneurs. They provide up to USD 400,000 in exchange for 10% ownership in African tech-enabled startups. As part of their portfolio, Ingressive Capital will provide support in expanding and scaling through business development, network and partnerships, and financial assistance; as well as provide opportunities for follow-on rounds through their own investor base
Year of Inception: 2017
Stage: Pre Seed, Seed, Series A
Focus: Technology
Notable Portfolio: Voyance, BFREE, PayHippo, AjoCard, BetaStore
Beta.Ventures invest in visionary creators that will move us closer to a future based on technology and science. Operating from New York and Lagos, Beta.Ventures leverage its wide network of partners, affiliates, and mentor to assist tech startups in growing locally and worldwide. From product idea through product launch and future development, Beta.Ventures will collaborate closely with teams and lend their expertise in developing outstanding products/services, negotiating partnerships and agreements, leading teams, and raising capital.
Year of Inception: 2018
Stage: Seed
Focus: Technology
Notable Portfolio: Zone, Schoolable, Lori, Zumi, mPharma, Indigo
Timon Capital backs businesses that utilize technology to reshape markets. They invest largely at the Seed stage, searching for firms with a working product and early evidence of traction and participating in the first institutional funding. As an investor, they aim to actively participate in assisting the firms they support - be it course financing plans, assisting with secondary transactions, bringing global talents, and more.
Year of Inception: 2021
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: Showlove, Bitmama, TeamAPT, ZirooPay, Zilla
Fedha Capital is a sector-agnostic venture capital firm founded by 5 entrepreneurs with multi-industry backgrounds and experience. They have pooled together their resources to invest in and collaborate with entrepreneurs bringing forth a series of solutions to the financial and capital-intensive challenges in Africa.
Year of Inception: 2019
Stage: Seed, Series A, Series B
Focus: Technology
Notable Portfolio: Raise, Bamboo, Helium Health, Bankly, Sabi, Koa
Chrysalis Capital is a venture capital firm that focuses on early-stage technology startups in emerging markets, concentrating on projects that fulfill basic human necessities. They use their proprietary tool Chaterpillar to uncover the top entrepreneurs who are inventing innovative solutions and assist them as they grow into powerful global institutions.
Year of Inception: 2011
Stage: Seed, Series A, Series B
Focus: Technology, Smart Planet, Health and Human Services, Emerging Fintech, The Next Frontier, Commerce, Media & Entertainment, Access to Energy, Sustainable Mobility, Connectivity
Notable Portfolio: Migo, Gro Intelligence, Ando, TradeX, Octamile
EchoVC is a technology-focused, sector-agnostic, early-stage VC firm investing in founders from underrepresented backgrounds and underserved POC markets. They support diverse teams and invest in daring ideas with business models that use technology to offer value to mass audiences. They operate in 12 countries across Africa, the United States, and the United Kingdom; catering to the many market possibilities they identify and financing entrepreneurs tackling important pain points.
Year of Inception: 2018
Stage: Seed, Series A, Series B, Series C
Focus: AdTech, FinTech, Healthcare, Logistics/Mobility, Saas
Notable Portfolio: Duplo, Intelligra, HerEconomy, Dr CADx, NDOVU
Oui Capital, derived from the French word Oui meaning 'yes', seeks to be one of the first "yeses" entrepreneurs receive as they begin their business journey. They invest in and collaborate with entrepreneurs as they establish their technology-enabled solutions that will impact Africa. Aside from capital, they equip businesses with the tools and resources they need to accomplish large-scale growth; assisting in areas such as product strategy, global expansion, key hiring, collaborations, funding, and operations.
Year of Inception: 2016
Stage: Seed, Series A, Series B, Series C
Focus: Sector Agnostic
Notable Portfolio: Youverify, SAFI, Hirefreehands
Chinook Capital provides early capital to extraordinary entrepreneurs to help them convert great ideas into remarkable companies and expand their new firms. They provide investees with more than just finance; but also assistance with market validation, product design, product-market fit, customer discovery, and establishing fundable and scalable businesses.
Year of Inception: 2019
Stage: Seed, Series A, Series B, Series C
Focus: Technology
Notable Portfolio: Tizeti, Bento, Paystack, Sendy, Curacel, OnePipe
Atlantica Ventures is a data-driven early-stage investor that focuses on tech and tech-enabled startups in Africa. With decades of expertise, significant partner networks, and an extensive data analytics team, they provide financing and operational direction to investees as they develop inside their markets, across Africa, and internationally.
Year of Inception: 2012
Stage: Series A, Series B, Series C
Focus: Climate
Notable Portfolio: Beacon Power Services, SolarTaxi, CarbonClear, Migo, Candi
Though not necessarily a venture capital firm, Persistent Energy is a leading African venture builder and early investor that provide financial capital and human resources to early-stage firms in the renewable industry. Their focus is on providing human and financial capital, utilizing their knowledge through hands-on strategic and operational financial management, including capital raising and structuring, business analytics and KPI tool creation, and legal and human capital.
Year of Inception: 2014
Stage: Series A, Series B, Series C
Focus: FinTech
Notable Portfolio: Pezesha, Flutterwave, Apaya, BFREE, Dojah, Helium Health
GreenHouse Capital invests funds and specialized knowledge in firms that are developing fintech and fintech-enabled solutions to fuel Africa's economic future. As an investor, they cultivate long-term partnerships with entrepreneurs and provide them with connections to corporations and other investors.
Year of Inception: 2014
Stage: Series A, Series B, Series C
Focus: Sector Agnostic
Notable Portfolio: BasiGo, Elephant, GreenPath, Ignitia, Komaza
Novastar Ventures was founded to drive entrepreneurial initiatives that can revolutionize African markets and industries. They invest in projects that can create long-term benefits for the good of the masses. With offices in Lagos, London, and Nairobi, they collaborate with entrepreneurs who are inventing solutions to the continent's most pressing issues.
Year of Inception: 1999
Stage: Series A, Series B, Series C
Focus: Technology
Notable Portfolio: Twiga Foods, Ajua, Andela, Kobo 360, Terragon, Shara
Founded in 1999, TLcom Capital is one of the longest-running VC firms in Nigeria that have supported innovative tech entrepreneurs in building the future of the continent. They invest in technology-based solutions for significant challenges in the traditional industries, making way for creative new industries to emerge.
Year of Inception: 2017
Stage: Series A, Series B, Series C
Focus: Technology
Notable Portfolio: Carry1st, Mono, Workstyle, Koko, AppZone
Lateral Frontiers aim to collaborate with entrepreneurs who are developing core technologies for Africa. Through their investments, extensive networks, mentorship, and strategic advice, they aim to be the most trusted value-add partner to their entrepreneurs across various industries.
Angel Investors in Nigeria
The Angel investors listed below are part of an Angel community located throughout Nigeria. They may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Founded in 2015, ABAN is the largest Pan-African angel investor network organization. ABAN serves as a contact point for angel networks across the continent and supports its members in building the African early-stage investment market. You can browse through their network directory to find other angel networks. They also run Catalytic Africa in collaboration with Afrilabs, a co-investment Platform that matches angel investor investments in businesses from innovation hubs.
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio:
Rising Tide Africa is a group of female angel investors that leverage their influence, network, and wealth to positively affect and actively create a New Africa. RTA manages an investment pool focused on digitally and technologically enabled enterprises at their early stages, that are largely female-owned, female-led, or have a gender-diverse leadership and management team. They are actively involved in the development of business literacy among African women by providing Masterclasses, Mentorship Clinics, Deal Day Events, as well as other investment assistance, coaching, and training.
Closing Thoughts on VCs and Angel Investors in Nigeria
In recent years, startups born and grown in Nigeria have showcased their ability to compete well with startups in other heavyweight ecosystems across the world. The recent record quantity of funds raised by Nigerian entrepreneurs demonstrates this sentiment; with a higher degree of optimism and faith that investors have put into the growing ecosystem. The active involvement of local and international partners in the country has also contributed to the expansion and development of Nigeria's entrepreneurial network. Overall, Nigeria is poised for new growth and will surely bring bigger wins into its space.
Find VCs and Angel Investors in Africa and worldwide:
Frequently Asked Questions on VCs and Angel Investors in Nigeria
How do venture capital firms evaluate Nigerian startups?
Investors assess market size, team capabilities, technological innovation, and scalability across Africa. Key evaluation metrics include revenue traction, customer acquisition costs, product-market fit, and growth strategies, particularly in sectors like fintech, e-commerce, and digital infrastructure solutions.
What investment stages do Nigerian VCs typically focus on?
The funding landscape spans seed through Series C, with local VCs predominantly focusing on early and growth-stage investments (seed to Series B). International venture funds and corporate VCs often lead later-stage rounds, especially in sectors like digital payments, logistics, and B2B platforms.
How can entrepreneurs connect with angel investors in Nigeria?
Founders can access investors through Lagos Angel Network, local accelerators, VC firms, pitch competitions, and innovation hubs. Key networking opportunities include Lagos Startup Week, Nigeria Tech Summit, and pan-African investor conferences.
What are typical investment ticket sizes in Nigeria's VC landscape?
Angel investments generally range from NGN 5 million to NGN 50 million, while seed rounds typically fall between NGN 50 million and NGN 200 million. Series A investments often start at NGN 500 million, with growth-stage rounds reaching NGN 2 billion or more.
What support beyond capital do Nigerian VCs and angels provide?
Investors offer strategic mentorship, operational expertise, market access, and pan-African networking opportunities. They assist with talent acquisition, regulatory compliance, international scaling, and follow-on funding access, leveraging Nigeria's position as Africa's leading startup ecosystem.
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