By Eromosele Abiodun
Start-ups in Nigeria and other African countries who have no access to the needed capital investment now have respite as an investment company, Greentree Limited has created a platform that connects African investors with promising African businesses.
In a statement, Greentree’s Board Chairman, Olabode Agusto, who’s also founding Managing Director of Agusto & Co. said the company attracts discerning, successful investors who are passionate about the next generation of entrepreneurs in Africa.
He said: “About 25 years ago, when I left PricewaterhouseCoopers as a partner to set up a brand new company with no track record, people thought I was crazy. Today, that company is the strongest credit rating agency in Nigeria.
“There are many investors out there. The challenge is finding investment-ready startups. That’s why Greentree gives start-ups access to its team of finance, marketing, and legal professionals through its Start-up Lab, running due diligence and vetting them to get them investor-ready.
“Despite the hype about African start-ups, more than 60 per cent of their funding comes from founder’s own pocket or from family and friends, studies show. Where can great entrepreneurs go when they are neither rich nor connected?”
Founder/CEO of Paystack, one of Greentree’s portfolio companies, Shola Akinlade said: “When you are starting your company, your team is small, you are fighting so many battles and you need investors that can help you fight some of these battles. I think Greentree is one of those investors, they can pick a battle, fight it and win it for you.”
Greentree’s managing director, Abis Soetan said company’s Start-up Lab takes teams of two or more, through a programme of support and market validation with the goal to create investor-ready business ventures by Demo Day.
He added, “The value of our Start-up Lab is that it offers entrepreneurs the tools and support they need to grow a sustainable business – quickly” Most acceleration programs run between three to six months, however over a short period of time Greentree will provide start-ups with critical support in the areas they need it most.
“Start-ups will receive direction on governance structure, marketing and simple financial planning. The team will offer legal advice and technical support as well as provide opportunities for networking. Participating startups will have access to unlimited funding via Greentree’s network of business angels, venture capitalists and professional investors.”
Speaking on the impact of Greentree’s approach on their business, Co-Founder of Big Cabal Media, Bankole Oluwafemi, said they are lucky to have Greentree as a partner.
“They helped us put our house in order, which is one of the greatest challenges a startup faces in the early stages,” he said
Set up in 2015, Greentree is an investment company that connects African investors with promising African businesses. Through a network of business angels, we invest in businesses with a distinct innovative approach or ideas with high growth potential.