Profile
Lagos Angel Network (LAN) is an angel investor network based in Nigeria, established in 2011 by Tomi Davies and Adedotun Sulaiman. As Nigeria's first organized angel network, LAN pioneers structured angel investing and has expanded its reach across the continent, aiding in the development of a pan-African angel investment ecosystem. The network comprises over 110 active members, including entrepreneurs, investors, and business leaders, who provide capital, mentorship, and governance to early-stage startups in Africa.
Lagos Angel Network focuses on sectors such as technology, finance, healthcare, and agriculture, with an average check size of $50,000. They primarily invest at the pre-seed and seed stages across multiple regions, including Nigeria and wider parts of Africa. The network has invested over $5 million across more than 100 startups, fostering economic growth and development. LAN does not operate as a traditional fund; rather, it connects individual investors to high-potential startups.
Notable investments by LAN include companies like Paystack - a payments processing company, Flutterwave - a payments technology company, Andela - a software engineering talent network, Trove - an investment platform, and Trueflutter - a matchmaking app. These investments highlight LAN's strong presence and influence in the African startup ecosystem.
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