After the inaugural Lagos Startup DealDay, which took place on March 31, 2016, the Lagos Angel Network, a premier angel network in Nigeria, announced that three syndicates had invested NGN50 million into two ventures. However, the ventures were not disclosed at the time.
Café Neo is a coffee chain that’s hoping to be Nigeria’s (and Africa’s) Starbucks. Its coffee beans, which are nurtured and roasted to perfection, are sourced from the shores of Lake Kivu in Rwanda. The Café has 11 outlets in Lagos and its looking to expand to other parts of Africa.
On the other hand, Big Cabal Media is an online media venture that publishes Zikoko, TechCabal and EbolaFacts, which houses vital information about the deadly virus, Ebola. The company is looking to create a new future in African media.
The two ventures received the funds after a pitching session in front of a closed panel of LAN members, Deal Day judges and syndicate participants.
Lagos Startup DealDay is a quarterly pitch event run by LAN. It brings together LAN members, other angel investors and Lagos startup ecosystem players to invest in the very best startup ventures.
Through the event, LAN is looking to raise NGN100 million from its members and the early stage investment community at large for Lagos startups during 2016.
The event was organized in partnership with VC4Africa, TechCabal, the Africa Business Angel Network (ABAN), Lagos based hubs, incubators and accelerators.
Applications for the next StartUp DealDay have opened with the closing date set at June 10. The event will take place on June 30, 2016 at a venue that’ll be announced later.
Interested startups – early customer/revenue or post concept/prototype – looking to raise between NGN5 million and NGN25 million in funding should apply ASAP.