How to find Angel investors in Nigeria

How To Find Angel Investors In Nigeria

Looking for an Investor for your current business idea? this is for you.

What are investors looking for in a startup? This is the first question you need to answer as an entrepreneur, and here are clues on the likely things investors are looking for in the ideal business idea before they put in their investments.

Feasible & Bankable idea

More, you also need to know different investors’ criteria that drive investment. Well, usually, it all starts at the idea and the potential, angel investors are looking to invest only in scalable, innovative, feasible, and profitable in terms of its market opportunity.

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The credibility of the business

Another important thing investors focus more on is the business, they are more interested in the credential and the credibility of the team behind the startup, they need to know if they have the ability to perfect the business idea. Other important factors are the business mode,  revenue model, cost structures, etc.

Investors look beyond the present stance of the business, they tend to look more at the future of the business, this why it is important to have a carefully made out business plan to showcase your value proposition and other things such as exit strategy.

Overall the investor is most interested in this…

ROI-Return on Investment

Return on Investment

The investors must feel confident and convinced of the investment proposition, they want to be sure that they can earn back their investments.

Investment Psychology: Investibility of a business idea

Entrepreneurs are known to be very passionate people, they like to get a problem solved and find solutions to many things in the world that’s not working, but investors are investors, they primarily commit their investments to your business in order to be able to make profits, in most cases they may not share the like passion you have for your business, this means that more than just solving a problem, your business idea or proposition must offer a very attractive and lucrative opportunity for the investor.

Angel investors most times have more than one startups in their portfolio, investors will naturally want to find a startup that offers complimentary business to the ones already in their investment portfolio, this is simply because they can have a complementary business relationship that speaks value.

Take for example if I have a logistics firm in my portfolio, investing in an eCommerce startup, as well as in a payment gateway startup would make some good investment sense, this is because it pages way for future consolidation of a merger. So far an entrepreneur seeking investment from angel investors, you might want to see the startups in the investors’ portfolio before arranging a business pitch.

Some investors also like to invest in hot trends, according to a business theory called economic pendulum, investors Will naturally want to avoid highly saturated markets full of heated-up competition.

They are always on the search for an untapped market within an existing business category. Just as you may know, investors don’t like the market share syndrome, the entrepreneur thinks they just need to get the 1% of the multi-billion dollar market to be fine, but in business-reality, it doesn’t always work that way, this is why we don’t advise entrepreneurs to use the market share route when in their pitching.

Your foundational research as the entrepreneurs is purposely to substantiate the business skills and show to the investors that you did your homework well.

So, basically, understanding the thinking process of investors will help you to adeptly optimize your business pitch.

Fundraising for Business: How to connect to angel investors

Most angel investors don’t go all over the place advertising themselves for you to see, this is simply because they don’t want to get overwhelmed with every dick and Harry pitching to them.

1. Informal networks

Angel investors are professionals or multi- professionals with disposable income, they are not necessarily versed in professional investment since most of them are not into it full time, most of them have got their jobs but are only willing to invest in other businesses to boost their earnings. People talk these professionals into new business opportunities and they are willing to put in their investment if the business idea serves them right.

so you need to start building your network and talking to people, tell them the type of support you’re looking for in your business, basically, you need people who can serve as connectors, it may be your lawyer, your doctor, dentist, barber, all of these people can connect you with investors who on their wings you can fly your business idea. Don’t get me wrong, these people may not be in the best position to invest in your business, but the fact is, many of them can give you the key and linkup to investors who is willing to partner with you in your business.

The best way the deals get done is by working on building a trusted network.

2. Local networks

It may be easier and more feasible finding an angel investor in your local proximity, I mean, finding a local investor in the USA for a business in Nigeria is big deal when compared to finding a local investor. It’s not to say you can’t go global especially if you feel that your business needs a speciality angel.

3. Angels clusters

Another thing you need to understand about angel investors is that, they don’t fly alone, but rather they go in clusters if you made your way and get an introduction to one angel it will be easy to jump your way to other angels. They like to work together basically because they learn from each other they sometimes pull their money together so they can realise more investment power.

Platforms to find angel investors

Here are some ideal platforms to look to find an angel:

1. aka Angel lists

One of the biggest online platform for angel investors that have been around for a quite a while is it has a massive database of angel lists and a showcase of some of their investment portfolios. You can search for angels on the portal or as well get listed as an angel investor.

2. Angel investment networks (

This is another large network of angel investors with more than 185,000 angels listed globally. With this cast network you can easily find an angel locally.

Other platforms are,, Bloomberg, and CrunchBase, these are potential online networks to tap into to find potential investors.

3. Attending conferences & meetups

Another means of finding an angel is through events and meetups such as techpoint conference, ayeen meetups, etc. They could be pitch nights, startup nights, networks and other related stuff they can be your ideal place to get connected.

4. LinkedIn

Another source of getting angel investors in Nigeria but often overlooked is the LinkedIn network. Many entrepreneurs are not even active on the platform, I did a small research and I can tell you today that there are over 80,000 investors on what everyone sees as the job profiling network Linkedin.

5. Share your story

Your passion to tell your story can land you an investor knocking on your door, so it’s important you enthusiastic about telling people the story about your idea and what you’re building. Make sure you have a super elevated pitch you can always tell people when you have the opportunity to do so.

How to approach an angel investor

When you find somebody you’re interested in, it is good that you find someone who can introduce you, usually it should be someone who knows them, this way you can get a quality introduction and eventually land a pitch.

When you find these angels, be precise and don’t perambulate, go straight to the point, these are people who are time and value-conscious, so keep it brief but concise.

Nigeria Angel Investors

Ghana Angel Investor Resource

In conclusion…

Don’t tire out, you need to keep going, try as much as possible methods we pinpointed on this page, and hopefully, you’re able to get your desired angel in the shortest possible time.


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