Tech in Africa
Ingressive Capital is a venture capital firm based in Lagos, Nigeria.
In a statement from the firm, they have doubled their investment to cover tech-related startups across Africa. The fund now boats of a war chest of $10m that will be channeled to inspire the next generation of African innovators. The fund mainly targets seed and pre-seed tech businesses operating in the B2B space and provides solutions in any of Africa’s billion-dollar market segments. Included in the scope of investment is B2C fintech.
Investments thus far:
On average Ingressive Capital invests $200k to $400k in checks and aims for 10 percent ownership in the companies in the companies under their umbrella. Some of the investors in their fund run Africa’s largest businesses. This opens up access to business development and the pan African market.
Who are the funds prolific investors?
Among the top investors into the fund are Plexo Capital, C.E.O of Y Combinator, Techstars, Nigeria Sovereign Investment Authority, institutional capital, WTI, and ten of the top funds and accelerators. Leading industry figures advising the fund are; Maurice Werdegar, President & CEO of WTI; Seth Levine the MD of Foundry Group; and Kai Bond, Partner at Courtside Ventures.
Maya Horgan-Famodu is the founder and belives the COVID-19 period presents an opportunity:
“Many billion-dollar companies have been founded or found their footing during economic downturns and market contractions.” Maya Horgan-Famodu
To apply for funding in Nigeria, email [email protected]
To apply for funding in Ghana, email [email protected]
To apply for funding throughout the rest of the continent, email www.ingressivecapital.com
