Ventures Platform, an early-stage “discovery” venture capital fund championing the next generation of African entrepreneurs, has appointed Dotun Olowoporoku as a new venture partner. The pan-African venture capital company wants to enhance venture capital’s standing as a dependable funding partner for Africa’s startups. This new appointment comes a little less than six months after it completed the first close of its $40 million fund, through which it has already invested in ten of the most promising firms in Africa.
Olowoporoku, an early-stage VC investor, will provide assistance to the founders of companies in the Ventures Platform portfolio with investor relations, corporate governance, fundraising, international expansion, mergers and acquisitions, and growth marketing.
Ventures Platform was founded in 2016 by Kola Aina, one of Nigeria’s most active early-stage investors who focus on supporting non-consumption-optimized market-creating inventions.
The company helps Africa’s most ambitious entrepreneurs grow by giving them smart capital and growth support. It invests in pre-seed to Series A startups in a number of fields but is most optimistic about Financial Services and Insurance, Life Science and Health tech, Edtech and Digital Talent Accelerators, Enterprise SaaS, Digital Infrastructure Plays, Agri-Tech, and Food Security.
It has invested in 74 companies in 6 countries, including Paystack, Nomba (formerly Kudi), Reliance HMO, Brass, MarketForce, Mono, and Piggyvest. Paystack was bought by Stripe, and Nomba was bought by Stripe. So far, Ventures Platform portfolio firms have raised more than $600 million in follow-on financing.
Olowoporoku will join the existing Venture Partner, Seni Sulyman, and the Ventures Platform team as they increase their investments and impact in Africa. The appointment is intended to bolster the VC’s standing as a reliable financial partner for Africa’s startups.
Dotun Olowoporoku, who has worked with the Ventures Platform team for a number of years, says, “I believe innovative entrepreneurs will significantly shape the future of the continent for the better, and Ventures Platform has demonstrated a good track record of finding and funding them. I’m excited and privileged to also contribute to the fund’s growth and expansion” a proven track record of identifying and funding them. I am thrilled and honored to contribute to the fund’s growth and expansion.
Founding Partner, Kola Aina adds, “As we deepen our expertise and invest in the growth of startups across Africa, it is important for us to partner with investors and experienced operators who have deep market experience and whose personal beliefs align with our thesis. Dotun is a fantastic complement to our growing team and we are honoured to have him on board.”
Dotun Olowoporoku is a successful entrepreneur, investor, and former principal of the Pan-African VC firm Novastar Ventures. Currently, he serves as TeamApt’s Chief Commercial Officer, overseeing fundraising, investor relations, strategic investment, and acquisition.
