One cannot underestimate what a single angel investment can do when it comes to startups. A lot of startups have succeeded and acquired investmests through pitching their startups at an angel investment event.
I guess Africa – precisely Nigeria – would not want to be left out of the deal as applications are now open to apply for 2017’s first Lagos Angel Network dealday. This is the first DealDay event for 2017.
The Lagos StartUp DealDay is run on a quarterly basis and this angel investment round is run by the Lagos Angel Network. This first DealDay pitch event for 2017 will take place on Friday, March 24th, and will bring together LAN members, other angel investors and Lagos start-up ecosystem players in a process where the most worthy startup ventures (in target sectors) are guaranteed funding.
Credible statistics has it that in 2016, Lagos StartUp DealDay raised over N100 million from LAN members and the early stage investment community through which it invested in some of the fastest growing start-ups in Nigeria. Beneficiaries of this investment includes Café Neo and Big Cabal Media.
Lagos Angel network has now remarkably increased the funding available to ventures through the DealDay to between N25-N50m per venture and restricted participation to only ventures that have been in business for at least two and no more than five years, incorporated with CAC in Nigeria, have a track record of financial performance and paying customers for their products or services.
If a startup is shortlisted, it will be pitched to a closed group of angels and syndicates on the 24th of March 2017. All later processes of due diligence, agreement and fund disbursement is expected to be concluded by end of April 2017. Investment will be through LANs five syndicates, TechnoVision, Sasware, RODS, RisingTide and Links.
The application deadline has been put at February 24th, 2017. Apply here to get shortlisted for the event.
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Summary of the Qualification criteria:
* N50-100m funding requirement
* Post-revenue stage (i.e. existing customers)
* In operation for >2 years and <5 years
* Incorporated with CAC in Nigeria
* Full Time Leadership Team
So what are you waiting for? Do you meet the above requirements? Send in your application ASAP.