Wow!! The angel investors got 3000% ROI for investing in Jason Njoku’s iROKO.
If it were up to you as a Nigerian, would you have invested in Jason Njoku and his dreams of revolutionising the Nigerian film industry back then? Would you have seen through the piracy-laden minefield? Would you have believed in “a 10/10 failed working class lad from South East London?”
Well Bastian did and he helped bring on board a group of people who did. Even though they believed in Bastian, not Jason, not his idea.
There is a lesson to be learnt about Jason’s statement in his recent blog post that the early investors in iROKO made 3000% return on their investments.
It only takes one person to believe in you, not necessarily your idea. And you have to have the right network or be in the right circles.
I guess Bastian must have seen the determination, doggedness, never-say-never of Jason to put his name on the line. Bastian and his group of angel investors put down £80,000 for 10% of an idea valued at £800,000.
In Jason’s own words, “Earlier this year, after 5.2 years, the same investors sold their entire stake for which they paid $80k for in 2011. For $2.4m. $2,400,000.00. With Naira at N300, that’s N720m. Thats a x30 ROI. 3,000%. It took 5 years.”
Jason thanks all those who believed in him and gave him a chance; a chance of realising his dream. He believes that iROKO is at the cusp of reaching the potential he has always dreamed about.
We wish you the best. Keep setting the pace.
