The third and final Lagos Startup DealDay pitch event organised by the Lagos Angel Network (LAN) is happening on Wednesday, November 16, 2016 and applications are open until Saturday, October 15, 2016.
Lagos Startup DealDay is a quarterly initiative from LAN that aims to raise N100 million for Lagos startups during 2016. So far two Startup Dealday events have taken place, with the first one happening in March, and the second one happening in June.
Shortlisted startup ventures will be privately notified before the end of October when they’ll be given Term Sheets for negotiation. Successful entrepreneurs will then be invited to make formal pitches to a closed group of angels for funding at the event. To be eligible, ventures must be no more than two years old, have revenue-generating customers, and a N5-25 million capital requirement.
Lagos StartUp DealDay 3 is a working partnership with VC4Africa, who’ll provide the online platform, TechCabal, who are the media partners, and the Africa Business Angel Network (ABAN) who’ll be in charge of accrediting the investors, local incubators, hubs and accelerators that’ll provide the applicants.
In preparation for the third Startup DealDay, LAN is also inviting the formation of syndicate groups that will lead investments. While Syndicate leadership and registration is restricted to LAN Members, membership in syndicates is not limited to members of LAN, but open to ABAN-accredited investors with an interest in early stage investing.
VC4Africa will register applications from the startups seeking funding starting from tomorrow. As part of the process, submissions by applicants will be available to investment syndicate members for review.
Interested startups and investors should visit the Lagos Angel Network page on the VC4Africa’s site for more information.
