Top 10 Venture Capital Firms in Nigeria in 2024

The venture capital ecosystem in Nigeria has undergone major growth over the last decade.

In this article, you will find some of the top venture capital firms in Nigeria investing across various sectors and industries.

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10 Venture Capital Firms in Nigeria

1) Enterprise Ireland

Enterprise Ireland is a government organisation that provides investment support and opportunities for founders looking to build their businesses in Ireland.

Details of the VC firm:

• Country: Ireland, Germany, Hungary, Denmark, France, Netherlands, Italy, Sweden, Spain, Czechia, United Kingdom, Belgium, Poland, Brazil, USA, Canada, United Arab Emirates, Australia, China, Japan, Singapore, Vietnam, India, South Korea, Saudi Arabia, Nigeria, South Africa, Kenya
• City: Dublin, Düsseldorf, Budapest, Paris, Amsterdam, Milan, Stockholm, Madrid, Prague, London, Brussels, Warsaw, São Paulo, Austin, Toronto, New York, Dubai, Sydney, Hong Kong, Tokyo, Singapore, Ho Chi Minh City, Beijing, Mumbai, Seoul, Riyadh, Lagos, Johannesburg, Nairobi, Shannon, København
• Started in: 1998
• Industries: Life Sciences, Industrial
• Stages: Pre-Seed, Seed, Series A, Series B, Series C
• Maximum check size: €50,000
• Number of investments: 686
• Number of exits: 78
• Funds raised: €216,100,000
• 3 remarkable investments: Profitero, Immersive VR Education, Invinity Energy Systems PLC

You can find their website here.

You can send them an email at equitydept@enterprise-ireland.com.

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2) Ventures Platform

Since 2016, Ventures Platform invests in early-stage companies targeting the African market.

Details of the VC firm:

• Country: Nigeria
• City: Abuja, Lagos
• Started in: 2016
• Founders: Kola Aina
• Industries: InsurTech, Life Sciences, Enterprise, SaaS, Food & Beverage, Education, Infrastructure, Agriculture, Fintech, Healthcare
• Stages: Pre-Seed, Seed, Series A
• Minimum check size: $50,000
• Maximum check size: $100,000
• Number of investments: 77
• Number of exits: 1
• Funds raised: $40,000,000
• 3 remarkable investments: Bata, Gradely, Paystack

You can find their website here.

You can send them an email at partners@venturesplatform.com.

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3) EchoVC Partners

With offices in Africa, the UK and the US, EchoVC is a technology-focused venture capital investing in diverse founding teams.

Details of the VC firm:

• Country: Nigeria, Kenya, United Kingdom
• City: Lagos, Nairobi, London
• Started in: 2011
• Founders: Eghosa Omoigui
• Industries: Fintech, DTC, Media, Entertainment, Transportation, Energy
• Stages: Seed, Early Stage
• Minimum check size: $50,000
• Maximum check size: $20,000,000
• Number of investments: 41
• Number of exits: 7
• Funds raised: $41,000,000
• 3 remarkable investments: Migo, Ponto, TradeX

You can find their website here.

You can send them an email at founders@echovc.com.

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4) GreenHouse Capital

GreenHouse Capital primarily invests in African fintech companies.

Details of the VC firm:

• Country: Nigeria
• City: Ikeja
• Started in: 2016
• Founders: Bunmi Akinyemiju, Kunmi Demuren
• Industries: E-Commerce, Fintech, Developer Tools, Education
• Stages: Early Stage
• Minimum check size: $500,000
• Number of investments: 39
• Number of exits: 2
• 3 remarkable investments: CredPal, Indicina, Max.Ng

You can find their website here.

You can send them an email at info@greenhouse.capital.

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5) Ingressive Capital

Ingressive Capital is a pre-seed and seed-stage venture capital for tech companies in Sub-Saharan Africa regions.

Details of the VC firm:

• Country: Nigeria
• City: Lagos
• Started in: 2017
• Founders: Maya Horgan Famodu
• Industries: Fintech, Devops, Transportation, Biotech, Supply Chain & Logistics, Proptech & Real Estate, API, Cloud, Automative, Agriculture
• Stages: Pre-Seed, Seed
• Maximum check size: $400,000
• Number of investments: 34
• Number of exits: 1
• Funds raised: $10,000,000
• 3 remarkable investments: Paystack, Bamboo, 54gene

You can find their website here.

You can send them an email at investments@ingressive.co.

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6) TLcom

TLcom Capital has been backing tech entrepreneurs from the US, Europe and Africa since 1999.

Details of the VC firm:

• Country: Nigeria, Kenya, United Kingdom
• City: Lagos, Nairobi, London
• Started in: 1999
• Founders: Maurizio Caio
• Industries: Media, Internet & Mobile, DTC, Supply Chain & Logistics, Transportation, Education, InsurTech, Healthcare, Automative
• Stages: Early Stage, Late Stage
• Minimum check size: $500,000
• Maximum check size: $10,000,000
• Number of investments: 29
• Number of exits: 15
• Funds raised: $300,000,000
• 3 remarkable investments: Kobo, Cuebiq, uLesson

You can find their website here.

You can send them an email at info@tlcomcapital.com.

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7) Microtraction

Microtraction is a Nigerian VC firm providing pre-seed funding to African tech companies.

Details of the VC firm:

• Country: Nigeria
• City: Lagos
• Started in: 2017
• Founders: Yele Bademosi, Chris Schultz
• Industries: Healthcare, Fintech
• Stages: Early Stage, Pre-Seed, Seed, Series A
• Minimum check size: $100,000
• Number of investments: 22
• 3 remarkable investments: Wallet.ng, Cowrywise, Schoolable

You can find their website here.

You can send them an email at yele@microtraction.com.

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8) Novastar Ventures Ltd

Novastar Ventures invests in companies transforming the African market.

Details of the VC firm:

• Country: Kenya, Nigeria, United Kingdom
• City: Nairobi, Lagos, London
• Started in: 2014
• Founders: Steve Beck, Andrew Carruthers
• Industries: Fintech, Supply Chain & Logistics, Healthcare, InsurTech, Education, SaaS
• Stages: Early Stage
• Minimum check size: $200,000
• Maximum check size: $7,000,000
• Number of investments: 20
• Number of exits: 1
• Funds raised: $200,000,000
• 3 remarkable investments: TradeDepot, Paygo, Komaza

You can find their website here.

You can send them an email at info@novastarventures.com.

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9) Alitheia

Based in Nigeria, Alitheia Capital invest in companies providing essential goods and services to small enterprises and low-income households.

Details of the VC firm:

• Country: Nigeria
• City: Lagos
• Started in: 2007
• Founders: Jumoke Akinwunmi, Tokunboh Ishmael
• Industries: Fintech, SaaS, Supply Chain & Logistics, Climate & Sustainability, Education, Transportation, Energy
• Stages: Early Stage
• Number of investments: 11
• Number of exits: 1
• 3 remarkable investments: Pagatech, Baobab, SparkMeter

You can find their website here.

You can send them an email at info@thealitheia.com.

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10) Chrysalis Capital

Chrysalis Capital is an investment firm providing early-stage funding to tech startups in emerging markets.

Details of the VC firm:

• Country: Nigeria, USA, United Kingdom, India
• City: Lagos, London, New York
• Started in: 2019
• Founders: Nichole Yembra
• Industries: Healthcare, Fintech, Enterprise
• Stages: Early Stage, Seed, Series A
• Number of investments: 10
• 3 remarkable investments: Bamboo, Bankly, Rise

You can find their website here.

You can send them an email at general@thechrysaliscapital.com.

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