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LAGOS

Home to Africa’s first Unicorn, Africa Internet Group, Lagos is known as Africa’s Big Apple. Here, entrepreneurs battle the odds, sometimes without electricity and running water, to create digital-commerce and payment startups. Startups trying to stay productive in Lagos have to navigate its many exciting distractions, including beautiful beaches, a rocking night scene, funny entertainment, and colorful owambe parties, and stave off the hunger induced from thinking about street foods such as agege, akara, boli, puff puff, abacha, agbo jedi, and much more.

VENTURE ACTIVITY Q4’15 - Q3’16

VC FUNDING: $747.4M

DEALS: 36

EXITS: 4

5 YEAR YoY FUNDING GROWTH: 147.8%

5 YEAR YoY DEAL GROWTH: 78.3%

Source: CB Insights

 

LAGOS AT A GLANCE

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Power Breakfast

Lagoon Restaurant

Sheraton Lagos

Terra Kulture

Coffee Shops to Start Up In

Café Neo

Paris Deli

Best Bar

Quilox

Local Beer

Orijin

Star Lager

“Must Be At” Local Events

Evo Festival

Lagos Carnival

Lagos Music Festival

In the Know

If someone tells you they want to dash, a.k.a known as a bribe, you should dash away.

THE TOP

ANGELS

Aaron Liew

Bunmi Akinyemiju

Chika Nwobi

Cornelius Frey

Dotun Olowoporoku

Idris Ayodeji Bello

Opeyemi Awoyemi

Tony Elumelu

VCs

CRE Ventures

EchoVC

IFC

Omidyar Network

ACCELERATORS

440NG

Co-Creation Hub

IDEA/Tech Launchpad

Spark

Wennovation Hub

ENTREPRENEURSHIP EVENTS

Afropolitan Vibes

DEMO Africa

Founder2be

Global Entrepreneurship Week

Lagos Startup Week

Social Media Week

Startup Grind Lagos

VC4Africa Meetup

Q4’15 - Q3’16 TOP FUNDING ROUNDS

Zinox Technologies—$25M

Landmark Africa—$20M

Paga—$13M

Aella Credit—$7.2M

Travelbeta—$2M

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