Lagos Angels help build the next generation of tech companies in Nigeria & Africa

By Guest Author - July, 30th 2014

Collins Onuegbu, founder of Lagos based technology investment company Sasware, ICT company Signal Alliance, and a member of the Lagos Angel Network, recently joined VC4Africa’s investor network as aPro member. VC4Africa connects local and global networks of angel investors interested in Africa’s greatest startups. “Nigeria and Africa are full of budding entrepreneurs with smart ideas”

Please introduce yourself and how you got involved in the African investment space?

“I’m the Founder and Executive Vice Chairman of Lagos based ICT CompanySignal Alliance. Having founded this company and after running it successfully for 18 years, I recently left the CEO post to focus on a new role allowing me to invest in and develop technology startups – initially in Nigeria and later in Africa. We have recently set up a vehicle to focus on this, called Sasware.

I’ve always thought of myself as a serial entrepreneur and investing in other people’s ideas is a way to fulfill my desire to be part of the ever-changing tech space. Until recently, the local investment space in technology hardly existed. But the landscape has changed allowing people like me to get involved in helping build the next generation of technology companies.

Sasware will invest in companies that we can provide not just startup capital but mentoring. We are focusing on technology and technology enabled ventures. Our strategy is co-entrepreneurship, working closely with companies we invest in early to refine strategy and go to market together. And Sasware will also be doing internal incubation for Signal Alliance, to enable us to invest in new areas that will grow and diversify Signal Alliance.

Last year I joined the Lagos Angel network, a network of investors set up to provide early stage investment to young startups in Nigeria. This network was founded in 2013 by Tomi Davies, one of the greatest Techpreneurs in Nigeria in the past couple of decades.”

What are the elements that have to come together for you to back a deal, and how do you find entrepreneurs who match your criteria?

“The first step is to… (READ MORE)