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This new year seems to hold many promises for tech and non-tech founders who need funding to scale their startups as new VC, Echelon Capital, announces plans to inject US$1 million in funding beginning February 2021.
In an interview with the venture capital firm’s founder, Sunday Olorunsheyi, he revealed that Echelon Capital would invest millions of dollars into different startups across the African continent over the next ten years. The VC will, however, begin with a million dollars investment into Nigerian-owned startups.
This exciting news has come amid concerns over the increasing dominance of foreign investments in the Nigerian startup ecosystem, especially by US investors. While a Techpoint report says Nigeria is the second largest investor country in terms of size and the number of cheques written over the last decade, many startups still get their funding from foreign investors. So, Echelon, being a local investor, means that more startups can
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