money

The first Lagos StartUp DealDay was in March and two ventures received a total of N50 million in investment from syndicates at the event. Not many people knew who the recipients were, but today, Lagos Angel Network (LAN), organisers of the StartUp DealDay have officially announced their names. They are Café Neo and Big Cabal Media.

Café Neo is one of the largest coffee chains in West Africa and the fastest growing on the continent. They provide the best coffee from Africa, and also a place for customers to dream, create, and meet great people. With 11 outlets in Lagos,Café Neo is fundraising to recruit management and expand to 4 more locations. Café Neo already has a cult following in Lagos and Kigali and is at the forefront of an African coffee revolution.

As architects of new media in Africa, Big Cabal Media is at the forefront of the paradigm shift in media consumption. They are the publishers of  TechCabal, Zikoko and EbolaFacts.

The Lagos StartUp DealDays are LAN’s way of raising funds for Lagos-based ventures in 2016. LAN intends to raise N100 million from its members and is working with key players in the tech ecosystem to make StartUp DealDay a quarterly event.

There were nearly 250 applications for the first StartUp DealDay event. These were whittled down to an initial shortlist of 10, and then to a final shortlist of 5 ventures that were invited to the final pitch round. Pitches were made in front of a closed panel of LAN members, DealDay judges and syndicate members.

The next StartUp DealDay is happening in June and applications are now open.

 

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