Echelon Capital, a Nigerian venture capital firm that specialises in investing in tech and non-tech startup companies proposes to inject US$1 million in funding starting from February 2021.
According to Sunday Olorunsheyi the firm’s founder, he disclosed that Echelon Capital plans to invest millions of dollars into various startups across Africa, but will begin funding startups in Nigeria before extending to other African countries.
He stated that the firm looks for startups with a good management team, industry knowledge, innovative products, capital efficiency and profits.
When asked how startup founders can access the fund, he said “One thing that gives my team and I joy is that founders who are prepared, built capacity, and have rightly positioned their business properly will need to worry less about accessing funding “
He added that the future of startup investing in Nigeria will be decentralised investment, which means that individual will invest through startup funding platforms for direct investment.
This exciting news has come amid concerns over the increasing dominance of foreign investment in the Nigerian startup ecosystem, especially by US investors.
Sunday Olorunsheyi, a successful serial entrepreneur with over 20 years experience in business, management consultant and investment advisor. He co-founded Pertinence Group, which started its operation in 2012 and now a multi-billion naira business.
He holds two Masters degrees in Business Administration and Public Administration from Business School Netherlands and Ladoke Akintola University.
He ends by saying that there is a lot of excitement about the journey ahead.
