Aham Rochas Group to fund 100 Nigerian startups

By John Okeke
In recent years Nigeria has experienced a boom in Venture capital and private equity investments and has been described most attractive destinations for PE investments. 

In 2019, Nigerian startups chalked up investments worth N277.64 billion ($ 767 million) between January and February, 65% of which was recorded on the Cocacola – Chi Ltd deal. Other notable deals included the acquisition of Wakanow by the Carlyle Group and the $15 million investment made by the UK based CDC Group Plc to a Nigerian based firm, Cardinal Stone Capital Advisors Growth Fund (CCAGF), for the support of fast- growing SMEs in Nigeria. 2018 recorded N62.27 billion ($172 million) in PE investments, thus making it an almost 345% increase in 2019.

According to the Nigerian Start Up Funding Report, in 2019, Nigerian tech companies attracted investments of over $377 million and a huge percentage of this sum was invested in FinTech Companies. Nigerian FinTech company was listed among the Top 100 FinTech companies in the world, in a report published by KPMG.

In Q1 2020, according to the Nigerian Startup Funding Report by Techpoint, Nigerian startups raised, higher than they did in Q1 2018 and Q1 2019 combined. 

It is paramount to note that Venture capital plays a strategic role in funding startups notably in developed nations of the world. The central rationale of venture capital is to see small ventures grow into big enterprises.

Therefore, venture capital is a robust mechanism that can systematize creative entrepreneurship into thriving global enterprise.
The Managing Director of Aham Rochas Group, Mr Aham Rochas, says the vision of the Group is to provide startup capitals for African startups thereby creating an enabling environment for them to expand and grow, he further added that the group has set up an investment fund for this purpose and aims to fund 100 African startups by 2025, with 30% of the entire fund geared towards supporting businesses in the renewable energy space and Eco friendly sustainable solutions. 

He further added that the Aham Rochas Group is a people driven venture capital and private equity company which aims to be at the forefront of spurring innovative businesses with high prospect for global expansion. Since it’s inception, the Aham Rochas Group has supported a myriads of thriving businesses willing to seize on the vast opportunities across the continent.

The impacts of Venture Capital on the performance of startups and overall national economic growth cannot be flouted and the Aham Rochas Group is working relentlessly to identify and support thriving businesses through the provision of startup capitals for business growth and expansion.

In conclusion, there is a need for an enabling environment and greater assistance of venture capital financing in Nigeria coupled with administrative expertise to enhance business profitability, and national growth ultimately.

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