Ingressive Capital raises US$10-million for an African based fund

Ingressive Capital, a Nigerian based venture capital firm, has raised US$10-million to  be deployed to tech-enabled startups based in Africa. The firm was established in 2017 and invests in brilliant, resourceful founders with demonstrated grit building tech-enabled businesses in Africa. Ingressive Capital typically takes a 10% stake and invests up to US$400,000 per company. Its investments are strictly allocated as follows – US$50,000 in companies valued at US$500,000 or US$100,000 in companies valued at US$1-million or US$200,000 in companies valued at US$2-million as well as a US$250,000 follow-on investment into high-performing portfolio companies.

Ingressive Capital has invested in successful tech-enabled companies such as Paystack (technology company solving payments problems), Tizeti (provider of high speed broadband internet to residences & businesses), Jetstream (full service logistics between farms & factories in Africa), Funneljoy (all-in-one cloud-based platform), Vesicash (provider of secure, simple, affordable & reliable digital payment services) and Bamboo (trading platform for stocks listed on the Nigerian & US stock exchanges) among others. Investors in Ingressive Capital includes Platform Capital, Plexo Capital and the Nigeria Sovereign Investment Authority amongst others.

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