Download Download Investment Guide NG PDF

Download Investment Guide NG
Name: Download Investment Guide NG
Pages: 124
Year: 2017
Language: English
File Size: 3.94 MB
Downloads: 0
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SCALE UP! ENTREPRENEURS' GUIDE TO INVESTMENT IN NIGERIA Lagos, Nigeria, a city of over 20 million inhabitants, has a rapidly growing sphere of tech start ups. An estimated 400 700 active and viable start ups in Lagos become key drivers of jobs and eco nomic growth. The entrepreneurial ecosystem is gaining more and more international attention and economic traction. According to Startup Genome's Global Start up Ecosystem Report 2017, Lagos' start up ecosystem value is the highest in Africa, valued at USD 2 billion. Most entrepreneurs, however, still suffer from limited access to business advice, talent, markets and capital. These constraints are even higher for women, those who are young, or live outside of the metropolitan regions. One of the key challenges we have heard many times from start ups, is to find the right financing option, and work on the specific due diligence requirements of these instruments. This guide aims at helping start ups understand and navigate the variety of financing options. These include diverse mechanisms such as grants, seed funds, angel investment, impact oriented venture capital, debt etc. Furthermore, the guide outlines require ments, investor expectations as well as investor types in an easily accessible way, and offers practical support to entrepreneurs in asking the right questions when approaching an investor. In order to create a comprehensive overview we reached out to more than 32 financing partners who present their portfolio and require ments in the guidebook. Some of them, like DEG, GreenTec Capital also helped us and gave valuable feedback to improve the guide. The print version will be soon also available as an interactive online version. Based on a quick self assessment tool, the online guide will help entrepreneurs to find the best suited financing mechanism, and identify potential financing partners. 4


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Foreword At this point, we have to acknowledge one person especially: Anton Root, who shared his knowledge and experience for this guide. Thanks to him and the Allied Crowd team (Lars Kroijer, Malcolm Kapuza), who have proven to be experienced partner in navigating through the finance landscape in East and West Africa. We also received valuable feedback and support from GIZ colleagues from the finance sector Diana Hollmann, Gabriela Rosales Rogge and Annette Kleinbrod (Stifterverband). Last but not least, many thanks to my team from Make IT in Africa: Chiemelie Umenyiora, Mutembei Kariuki, Matthias Fr hlich, Stephanie Wiedner and Jonas Schug for organizing, proofreading and final editing. We will frequently update the guide to include new financing partners, and improve the methodology based on your feedbacks. So, please, don't hesitate to contact us via make [email protected] Dr. Jan Schwaab Head of Programme Tech Entrepreneurship Initiative Make IT in Africa (GIZ)


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Contents Foreword .......................................................................................................... .................................4 Contents ......................................................................................................... ...................................7 Glossary .......................................................................................................... .................................10 Introduction .................................. ........................................................................ .......................14 Chapter 1.0 Funding Instrument Overview ........................................................................ ........20 ............................................................................................................... ................................... 2.0 Investor Overview ........................................................................ ..................................32 Lagos Angel Network Aims to Promote Access to Finance .....................................38 Lagos Innovates Looks to Support Yaba's Start ups ...................................................42 How to Connect With Funders........................................................................ .......................49 3.0 Raising Capital ........................................................................ ........................................50 Putting Together a Board of Directors ........................................................................ .......57 Typical Negotiating Process With Investors. ..................................................................59Contents 7


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8 SCALE UP! ENTREPRENEURS' GUIDE TO INVESTMENT IN NIGERIA Three Fundraising Tips From Francis Sani, Acceleration Programmes Manager at Cchub ..............................................................62 Key to raising money successfully: Telling YOUR Story ...........................................63 Valuing Your Start Up ........................................................................ ........................................65 Three More Tips From Cchub's Francis Sani ..................................................................67 Negotiating With Investors: Tips From Entrepreneurs ............................................67 4.0 Nigeria's Investment Scene ........................................................................ .................68 Local vs. International Investors ........................................................................ ..................76 Pitching Effectively ........................................................................ ..............................................78 5.0 Investor Directory* ........................................................................ ................................80


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9 Global Partnerships/Eleos Social Venture Fund.....................................................97 GreenTec Capital Partners ..................................................................................................98 Singularity Investments ........................................................................ ..............................99 eVentures Africa Fund ........................................................................ ...............................100 GreenHouse Capital ........................................................................ ....................................101 Factor Ventures ................................................................................................................102 Africa Tech Ventures ..........................................................................................................103 Accion Venture Lab ........................................................................ .....................................104 Africa Enterprise Challenge Fund (AECF)...............................................................105 DEG Up Scaling Programme ........................................................................ .................106 Acumen Fund ........................................................................ .................................................107 All On ........................................................................ ..................................................................108 V8 Capital Partners ........................................................................ ......................................109 TLcom Capital LLP ..............................................................................................................110 IFC Venture Capital ........................................................................ .....................................111 Doreo Partnerst ........................................................................ .............................................112 Convergence Partners ........................................................................ ................................113 Energy Access Ventures ....................................................................................................114 Helios Investment Partners ........................................................................ ....................115 6.0 Conclusion ........................................................................ ................................................116 Key Takeaways ........................................................................ ....................................................119 Useful resources ........................................................................ ..................................................120 Acknowledgement ........................................................................ ............................................121 Imprint ........................................................................... ...............................................................124 * The funders are ordered by average investment amount, with smaller funding amounts appearing first.


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