Nigerian angel investor launches fund for African startups

Olumide Soyombo is a renowned Nigerian angel investor who has invested in over 33 startups in Nigeria and Africa as a whole. Some of Soyombo’s most successful investments include Stripe-owned Paystack, PiggyVest, and TeamApt.

Today, he has announced the launch of a new pan-African venture capital Voltron Capital. Voltron Capital is the product of a partnership between Olumide Soyombo and Abe Choi, an entrepreneur, and investor based in the U.S.

Voltron’s goal is to invest in about 30 fast-growing, high-potential startups in their pre-seed and seed stage all over Africa. Voltron will also give priority to firms in Nigeria, Kenya, South Africa, and countries in the northern part of Africa, with capital deployment from US$20,000 to US$100,000.

The firm intends to “address the severe lack of access to early-stage funding for African tech companies.”

Soyombo, asides from being an investor, is also a founder. He cofounded Bluechip Technologies, a firm that serves B2B data and other digital solutions to companies in the banking, telecommunication, and insurance sectors. The firm counts Oracle as one of its key clients.