One cannot underestimate the importance of angel investors in an ecosystem, they are an integral part of any tech ecosystem.
The Lagos StartUp DealDay is an Angel investment round which is entirely run by the Lagos Angel Network. The DealDay events brings together LAN members, other angel investors and Lagos start-up ecosystem players. All these culminates in a process where the most worthy startup ventures (in target sectors) pitch.
The Lagos Startup DealDay prides itself as an investment vehicle. This is rightly so as they, in previous years, have raised over N200 million from LAN members and the early stage investment community. Through this,they have invested in some of the fastest growing start-ups in Nigeria including Café Neo, Big Cabal Media and Versecom. Well, this is another chance to detect more great start-ups worth their money.
Applications for the 1st DealDay event in 2018 is now open. The network have increased available funding and have spelt out a number of criteria for start-ups to meet before they apply.
Here they are
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
If your startup is shortlisted, you will pitch to a closed group of angels and syndicates on the 26th of April, 2018.
Subsequently, the 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.
More?
If your startup fulfills the above criteria, then you are invited to apply while making sure you have a venture profile published on the VC4Africa platform with a most recent pitch deck attached before the deadline. You are advised to put adequate information (Commercial, Legal & Financial), as it helps better your chances. You can also have video pitches (no more than 60-90 seconds long) by the team, customers and investors. They are encouraged but not required.
Applications without a venture profile and pitch materials will be automatically excluded.
Deadline: March 24th, 2018.
Apply HERE.
