Nigeria hosts the , with 3,360. This rapid growth makes the country a hub for innovation and entrepreneurship on the continent. This growth comes from factors like a growing population and increasing internet access. However, top venture capital firms' access to funding and investment opportunities significantly drives this success. In 2024, , accounting for nearly 13% of all funding raised by African startups. Also, after securing $110 million in a funding round. Nigeria ranks as one of the top investment destinations in Africa, attracting venture capital firms eager to support its startup ecosystem. These firms offer the funding and mentorship needed to scale your business. I’ll walk you through Nigeria's top venture capital firms in this article. You’ll discover their investment focus, the sectors they support, their key portfolios, and how to find the right venture capital firm for your startup. What are venture capital firms? Venture capital (VC) firms focus on funding startups and businesses with high growth potential. VC funding usually involves exchanging equity or partial ownership. It is often targeted at early-stage startups with innovative ideas. However, even established companies may seek funding at later stages depending on their needs and goals. Startups typically seek funding when they lack the resources to grow independently, need capital to launch a new business, or aim to expand or introduce new technologies. VC firms support tech-driven solutions, such as fintech innovations, agriculture, eCommerce, entertainment, climate, and education, by providing capital, mentorship, and access to valuable networks. Written by seasoned experts, who have over 16 years of experience in Free Zones development. . Give it a try, you can unsubscribe anytime. Nigeria’s startup ecosystem is thriving. The top cities in the country with the most vibrant ecosystems include Lagos, Abuja, Enugu, and Port Harcourt. . Top venture capital firms in Nigeria 1. Future Africa , founded by Iyinoluwa Aboyeji, focuses on funding early-stage startups serving the African market. The firm offers founders and startups the funding, mentorship, and support they need to grow their solutions and serve their audience. Future Africa prioritizes key sectors like fintech, healthcare, education, and agriculture. 2. EchoVC Partners is a venture capital firm that funds tech-driven, early-stage startups. Their investment focuses include e-commerce, fintech, health, media, and entertainment. 3. GreenHouse Capital invests in tech companies with innovative ideas and solutions, helping founders to achieve a competitive edge. The firm also founded Venture Garden Group (VGG). Key investment areas include fintech, health, blockchain, and payments. 4. Ventures Platform is a VC firm that invests in African startups solving problems related to non-consumption, democratizing wealth, and addressing infrastructure gaps. Ventures Platform focuses on financial services, health, fintech, and the Internet, investing across seed, pre-seed, and funding rounds. 4. Microtraction funds early-stage tech startups that build globally relevant, high-growth technology businesses operating in billion-dollar markets. Their investment focus includes financial services, fintech, and software, offering pre-seed, seed, and angel funding. 5. TLcom Capital is an Africa-focused tech venture capital firm with offices in Lagos, Nairobi, and London. Their investment focus includes data services, financial services, eCommerce, health, education, energy, media, and entertainment. TLcom actively invests through its TIDE Africa Fund, targeting early- to growth-stage companies. 6. Ingressive Capital invests in early-stage startups, focusing on founders building high-growth tech companies. The firm aims to partner with entrepreneurs and provide them with the necessary resources to turn their ideas into successful businesses. Its key investment sectors include logistics and fintech. 7. Launch Africa provides funding for seed and pre-Series A startups. The firm backs startups across multiple sectors, including AI, agritech, fintech, and eCommerce. Consonance Investment managers is an early-stage and growth-stage investment firm that provides funding to founders building innovative companies across Africa. Their investment focus includes startups in financial services, insurance, food distribution, and education. 8. Chrysalis Capital focuses on early-stage technology companies in emerging markets. It has backed startups in sectors such as health and fintech. Additionally, other top venture capital firms in Nigeria include: What makes a good venture capital firm for startups? There are key factors to consider when choosing a venture capital firm for your startup; they include: Industry or sector Don’t just apply to or contact any VC firm. Instead, contact those that focus on your sector. This ensures that the firm understands your market, product, and audience. A VC firm with a different focus from yours can create conflicts of ideas and lead to misalignment. Contacting a VC firm that doesn't focus on your industry may lead to application rejection. Location Some firms only invest locally, in a particular country, while others are open to investing across a broader region, such as Africa. Despite aligning with your industry, they may be funding startups outside your geographic location or target audience. Track record, portfolio, and reputation Analyze the firm’s track record by looking at the projects they’ve partnered with previously and their success stories. Media coverage often highlights the funding and backing of companies, and if your startup is backed by a firm with a negative reputation, it could impact your business negatively. A firm with a strong track record and reputation can attract influential partners, talent, and additional funding. Value-added services and resources Look for VCs offering value-added services beyond money, such as mentorship, advice, connections, exposure, or market access. This means you can leverage the firm’s experience to grow your company and better use the funding you receive. Terms and conditions Thoroughly review the offer's terms and conditions. Have a professional review them before you agree to anything. Being in a cash-tight situation can cause you to overlook terms that could be detrimental to your startup’s growth, autonomy, or control. Consider the terms' flexibility and transparency, and get clear guidelines in advance so you have a point of comparison. Exit strategy Make sure their exit strategy aligns with your company’s long-term goals. Additionally, evaluate the firm’s culture and style to ensure they match your values. How to apply to a VC firm for your startup Understand your startup’s stage and sector You need to identify the stage and sector your startup belongs to since different VC firms focus on various areas. Some specialize in seed or early-stage funding, while others target growth or late-stage rounds. Most importantly, determine whether VC funding is the best option for your startup or if alternatives like grants or angel investors would be a better fit. Research and make a list Research and create a list of VC firms that meet your startup's investment criteria. Evaluate your options Evaluate each firm's suitability for your startup and the value it can bring beyond funding. Consider factors such as their expertise, track record, and network to determine if they are the right fit. Conduct due diligence Conduct due diligence on each VC firm. Find out which fund the investment will come from and the current status of that fund. Investigate how investment decisions are made and connect with founders or startups the firm has previously backed to ask questions. Once you've identified firms that align with your goals, move on to the next step. Reach out and pitch Decide how you’ll reach out to the VC firms. Some founders prefer warm introductions by building relationships first or leveraging someone connected to the firm. Others choose to send cold emails or apply directly if the firm has an open application process. Prepare a compelling pitch and other required materials to make a strong impression. Be ready to address any questions or objections the VCs may have. Negotiate and close the deal It's time to negotiate and close the deal after selecting the right VC firm and going through their evaluation or interview stages. Work closely with your lawyer to carefully review and negotiate the terms of the investment to ensure they align with your startup's goals and expectations. Key finalizing points include valuation, equity stake, exit strategy, and how the funding will be received. Once the agreement is signed, the deal is officially closed, and you’ll receive the funding. Challenges Nigerian startups face in securing venture capital Despite recent growth, 51% of startups in Nigeria still struggle to secure funding. Many startups also rely on angel investors, debt financing, and grants to stay afloat. However, in 2022, , and some states have started domesticating it. This Act aims to create an environment where you can attract investments, enjoy tax breaks, and benefit from streamlined regulations. FAQs on venture capital firms in Nigeria How does venture capital work? Venture capital works when investors, known as venture capitalists, provide funding to early or growth-stage startups in exchange for equity or ownership stakes. You pitch your business idea to VCs, who evaluate it. If they’re interested and both parties agree on terms, they fund your business, often in multiple rounds, as your company progresses through different growth stages. What are the benefits and challenges of getting venture capital funds? Venture capital offers you several benefits, including access to funding, expertise, and mentorship. However, the process is competitive and can take time. You’ll have to give up a portion of ownership and control. There are also high expectations for growth and returns, which can create significant pressure. Is venture capital right for my company? To decide, evaluate your company’s growth stage, industry, and objectives. Venture capital is ideal for high-growth startups with innovative products or services targeting large markets. If your startup cannot deliver on the terms of the fund, you may consider other alternatives. What is the role of venture capital firms in Nigeria? These firms provide funding to startups when they lack the cash to build, grow, and scale. They also offer mentorship and networking opportunities to help them succeed. How do VC firms choose which startups to invest in? VC firms have criteria such as industry focus and geography. They look at your market potential, innovative solutions, team expertise, and scalability before deciding to invest. What industries attract the most VC funding in Nigeria? Typically, high-growth potential industries. Fintech, healthtech, agritech, e-commerce, and climate tech, among others, attract significant VC funding in Nigeria. How can I secure funding from VC firms? To secure funding, you need an innovative solution, strong market potential, and a compelling pitch that convinces VC firms to invest in your startup. Conclusion Venture capital plays an important role in driving innovation in Nigeria by providing startups with the funding they need. Across various industries, it has fueled the growth of startups and helped them thrive.US CEO slaying suspect charged with murder as 'act of terrorism'None'Retaliatory' attacks from Afghanistan repulsed
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49ers vs. Lions final injury report: 4 ruled out, 4 questionable for Monday night showdownFormer Indian Prime Minister Manmohan Singh, who instituted economic reforms, cremated in New DelhiATLANTA, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) ("Perma-Fix” or the "Company”), an environmental and environmental technology know-how company, today announced that it has commenced an underwritten public offering of shares of its common stock. The proposed offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the proposed offering. Perma-Fix intends to use the net proceeds from the offering to fund (i) continued R&D and business development relating to the Company's patent-pending Perma-FAS process for the destruction of PFAS, as well as the cost of installing at least one second-generation Perma-FAS commercial treatment unit; (ii) ongoing facility cap-ex and maintenance costs; as well as (iii) general corporate and working capital purposes. Craig-Hallum is acting as sole managing underwriter for the proposed offering. The shares described above are being offered by Perma-Fix pursuant to a shelf registration statement on Form S-3 (File No. 333-283555), including a base prospectus, that was filed with the Securities and Exchange Commission (SEC) and declared effective on December 12, 2024. The proposed offering is being made only by means of a prospectus supplement and the accompanying prospectus that will form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov . When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering may be obtained from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300 or by email at [email protected] . The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. About Perma-Fix Perma-Fix is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the U.S. Department of Energy ("DOE”), the U.S. Department of Defense ("DOD”), and the commercial nuclear industry. The Company's nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD and commercial facilities, nationwide. Please visit us at http://www.perma-fix.com . Forward-Looking Statements This press release contains "forward-looking statements” which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe”, "expects”, "intends”, "anticipate”, "plan to”, "estimates”, "projects” and similar expressions. Forward-looking statements include, but are not limited to: the Company's ability to satisfy the closing conditions related to the offering and the overall timing and completion of such closing and the use of the net proceeds of the offering; accepting commercial waste for destruction before the end of the year; well positioned; treatment of effluent from DFLAW facility; and cost-effective solution for Hanford site tank waste. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to apply and market our new technologies; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract or terminates existing contracts; Congress fails to provides funding for the DOD's and DOE's remediation projects; inability to obtain new foreign and domestic remediation contracts; and the additional factors referred to under "Risk Factors” and "Special Note Regarding Forward-Looking Statements” of our 2023 Form 10-K and Form 10-Qs for quarters ended March 31, 2024, June 30, 2024 and September 30, 2024. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements. Contacts David K. Waldman-US Investor Relations Crescendo Communications, LLC (212) 671-1021 Herbert Strauss-European Investor Relations [email protected] +43 316 296 316
NYT Strands December 29, 2024 – Hints, answers, Spangram Today's NYT Strands puzzle theme Hints for today’s Strands Hints NYT Strands December 29, 2024 – Hints, answers, Spangram Spangram for today Today's Strands’ answers: What are NYT Strands and how to play the game? Tips for solving NYT Strands puzzle The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk’s news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity. Read More Latest Mobiles Samsung Galaxy A16 5G ₹16,499 Lava O3 Pro ₹6,999 Vivo X200 5G ₹65,999 Tecno Phantom V Flip 2 5G ₹54,999 Lava Yuva 4 ₹6,999 Poco C75 5G ₹7,999 Tecno POP 9 4G ₹6,499 Itel Color Pro 5G ₹9,199 Vivo Y18T ₹9,499 Lava Blaze 3 5G ₹10,999Max Brooks scores 26 points and UMass-Lowell secures 92-83 victory over Dartmouth
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