The founder of investment firm, Future Africa, Iyinoluwa Aboyeji, has disclosed his company’s willingness to invest in small businesses operating in Nigeria, in a bid to assist their growth.
Aboyeji co-founded Flutterwave and Andela, leading them to become a billionaire-dollar company in Nigeria, before quitting the product market to become an investor in the product market.
He launched Future Africa in March 2019 after exiting Flutterwave in October 2018, and has invested $4.3 million into 43 companies as at 2021, but the company still has more cash to invest.
Read also: Fintech start-up, Flutterwave reveals why 86FB accounts were suspended
In a statement on his Twitter handle on Friday, Aboyeji said the company was still interested in providing seed money for Startups, at the range of $25,000 to $100,000, in exchange for 5% to 10% stake in the investable firm.
Although he said to access the funds, the startups must come through their trusted networks of Future Africa.
“We really want to be your financial co-founder and help you tell your story, build your team, close your first customer, design your product and most important raise your seed round. If you are good to go on all the above – we might not be as valuable to you”, he wrote.
Aboyeji further stated, “Honestly I’m very honored when people send us decks asking for million dollar seed rounds but for now @anafricanfuture writes very small 25k-100k checks and we like to own a 5%-10% of target companies.”
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.