Press "Enter" to skip to content

Startup Investors in Nigeria 2023

Olaniyan Toni 4

Fund play a central role on whether your startup will succeed or fail. Knowing who to turn to for such essential resource is very important. In this article, I listed individuals and institutions you can turn to with a realistic chance of getting funded.

If you are not sure what type of fund to raise, please read Types Of Fund For Startup in Nigeria  where I explain all types of fund that is available for startup in Nigeria.

List of Startup Investors in Nigeria

  • Venture Capitalists
  • Angel Investors
  • Seed Investors
  • CrowdFunding
  • Government Grant/Loan

Venture capitalists (VC)

Startup Investors in Nigeria 2023

VCs are money manager that will often invest in a startup with a long term growth potential. Once convinced of the viability of the business, VC can and indeed do invest big. But it is worth pointing out that VCs hardly invest in idea notwithstanding how brilliant. Instead, they invest on a business with a proven cash flow, traction, strong team and clear growth potential. An example of VC in Nigeria is GC FUND, Green House Capital.

Angel Investor

Another startup investors in 2023 in Nigeria is Angel investor. An angel investor is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. While some Angel Investors can provide seed funding, many angels will want to see traction before writing the cheque. The good thing about Angels is that it is less formal, required less paperwork and the deal can be close quicker compare to VCs. A very popular Angel Investors in Nigeria is LAN. That is Lagos Angel Network.

Seed Investors

Seed investors is another startup Investors in Nigeria 2023 that is worthy of knowing. These Investors are willing to invest in a brilliant idea provided it has clear part to profitability and growth. It must be pointed out that because of the risks involve, seed investors often demands higher equity than Angel Investor and venture capitalist. Most seed investors reported by founders are family member, friends, certain rare wealthy men and women.

It must be pointed out that because of the risks involve, seed investors often demands higher equity

Crowd funding

This practice is becoming a super popular alternative way to raise fund for many first time founder with little or no prior credibility. The process involves raising monetary contributions from a large number of people who buy into your idea. Many agritech companies in Nigeria has leverage crowd funding to launch their product to the market.

Other ways a new startup founder can raise fund aside from the above includes;


A business loan is a loan specifically intended for business purposes on a condition that the lender will get refunded often with added interest. There are different types of business loans, including bank loans, asset-based financing, invoice financing, business cash advances and cash flow loans. Unless you are absolutely convinced of your idea, raising loan to startup a business can be a very risk thing to do and it’s not something I will ordinarily advise.

Government Grant/Loan

Government schemes are set up by government to promote businesses in a specific field or area of research. Anchors borrowers program for Rice and Tomato farmers is one of such government initiative. Another is YouWin which was aimed at promoting youth entrepreneurships.


There are other institution and private individuals that give loan and grants like some of the commercial banks, Bank of Industry (BOI) Bank of Agriculture (BOA) which mostly fund agric related business, Tony Elumelu Foundation etc.

  1. Babe Tee Babe Tee

    Thank you for this wonderful information!

  2. Anita Anita

    Wow! I really appreciate you. I started my business less than one year ago and many of these business lingos are new to me. I will come back to this article from time to time.

    • Thanks for your kind words! Wish you all the luck in your entrepreneurship journey.

Leave a Reply

Your email address will not be published. Required fields are marked *