Applications are currently open for the Lagos Angel Network (LAN)’s 1st DealDay event for 2018.
Founded in 2014, the Lagos Angel Network is the premier angel network in Nigeria and one of the most active in Africa.
The Lagos Angel Network runs the Lagos Startup DealDay with the aim of bringing together LAN members, other angel investors and Lagos start-up ecosystem players in a process where the most worthy startup ventures (in target sectors) pitch.
Laudably, the Lagos Startup DealDay as an investment medium has raised over N200 million from LAN members and the early stage investment community through which it invested in some of the fastest growing start-ups in Nigeria including Café Neo, Big Cabal Media and Versecom.
According to VC4A, the Lagos Angel network has this year increased the funding available to ventures through the DealDay that meet the following criteria:
Qualification criteria:
- N25-50m funding requirement
- Post-revenue stage (i.e. existing customers)
- In operation for >2 years and <5 years
- Incorporated with CAC in Nigeria
- Full Time Leadership Team
Shortlisted ventures will pitch to a closed group of angels and syndicates on the 26th of April, 2018.
The subsequent process of due diligence, agreement and fund disbursement is expected to be concluded by end of May 2018. Investment will be through LANs five syndicates, TechnoVision, Sasware, Genesis, RisingTide and Links.
For startups, applications close on March 24th, 2018. Qualified startups are invited to apply and make sure they have a venture profile published on the VC4Africa platform with their most recent pitch deck attached before the deadline. The more information provided (Commercial, Legal & Financial), the better your chances. Video pitches (no more than 60-90 seconds long) by the team, customers and investors are encouraged but not required.
Applications without a venture profile and pitch materials will be automatically excluded.
Interested angel investors and investment syndicates should contact the LAN Secretariat by email at secretariat@lagosangelnetwork.net for more information on how to register noting that Syndicates are required to have or set up at least one Pro Account with VC4Africa to be eligible to access the shortlisted candidates and participate in adjudication.
Pitch decks, video pitches and other startup information will be available to participating investors on the VC4Africa platform in the run up to the pitch event.
