Lagos, Nigeria’s bustling economic engine and home to 23 of the 28 fastest-growing Nigerian firms in the Financial Times ranking, has firmly established itself as a leading innovation hub—for which venture capital (VC) is both fuel and catalyst Business Elites AfricaFinancial Times. Below are the most active and influential VC players shaping Lagos’s startup landscape in 2025:
1. Microtraction
Founded in 2017 and headquartered in Lagos, Microtraction invests in early-stage, tech-driven startups across fintech, SaaS, e‑commerce, and health tech. It typically invests ~$100K for a 7% equity stake, with optional follow-up funding of up to $350K upon reaching milestones. The firm’s portfolio includes Cowrywise, 54gene, BuyCoins, Lemonade Finance, and Chaka. As of 2023, Microtraction had backed over 67 startups and continues to lead in seed funding in Lagos.
2. Ingressive Capital
Founded in 2017 by Maya Horgan Famodu and based in Lagos, Ingressive Capital targets pre-seed and seed deals in fintech, SaaS, healthtech, and agritech. With a $50M fund, it generally invests up to $500K per startup. Noteworthy portfolio companies include Bamboo, SEND, and Bitnob. As of 2024, it had made over 59 investments and maintained ~41 active portfolio companies with several exits.
3. GreenHouse Capital
Also located in Lagos (Ikeja), GreenHouse Capital is known for its focus on innovation-driven startups across fintech, healthtech, and e-commerce. Their portfolio includes major names like Flutterwave and Helium Health, and they average $250K ticket sizes. The firm supports scaling founders through strategic capital partnerships and advisory services.
4. TLcom Capital
With offices in Lagos, Nairobi, and London, TLcom Capital runs the TIDE Africa Fund II (~$154M), allocating $1–3M per early to growth-stage investment. The firm has galvanized tech across telecoms, health, agriculture, education, and mobility. Its investments span Andela, Kobo360, Autochek, Twiga Foods, Ilara Health, and Zone. TLcom is among the largest Africa‑focused VC funds and continues to deploy capital into Nigerian startups from its Lagos base.
5. EchoVC Partners
A global VC with a solid presence in Lagos, EchoVC targets bold entrepreneurs building scalable tech solutions. With ~$41M deployed in Nigeria, EchoVC has supported startups like LifeBank, Frontier Car Group, Lori Systems, and Gro Intelligence. Their international network provides access to markets beyond Africa.
6. Future Africa
Co‑founded by Iyinoluwa Aboyeji and Mia von Koschitzky‑Kimani, Future Africa is headquartered in Lagos. It has made over 100 investments, deploying more than $10M into high-growth startups like Moove and Flutterwave. It also counts successful exits among its portfolio and is fast becoming a key player in Lagos’s tech financing scene.
7. CcHub Growth Capital
Affiliated with the Co‑Creation Hub (CcHub) innovation ecosystem in Yaba, Lagos, Growth Capital invests in startups that have graduated from CcHub’s incubation programs. Launched in 2015 in partnership with Omidyar Network and the Bank of Industry, the fund supports tech ventures that enhance public services and civic engagement, offering both capital and mentorship to scale socially impactful ventures.
🔍 Why Lagos Attracts VC Attention
Lagos’s dense population and economic diversity offer startups high-impact scale and rapid market traction, especially in fintech—home to major names like Paystack, PalmPay, Moniepoint, and PiggyVest. Despite a 7% decline in VC deals in 2024—a trend mirrored across Africa—Lagos remains one of the world’s top emerging tech hubs per Dealroom.
VC firms in Lagos are not just capital providers—they’re ecosystem builders. Many run accelerator programs, host bootcamps (like Bankable Wisdom’s Venture Grants Bootcamp), and organize pitch events such as the AfricArena Fintech Summit and private equity conferences happening throughout 2025.
📊 Side-by-Side Comparison
| VC Firm | Headquarters | Stage Focus | Typical Ticket | Sectors | Notable Investments |
|---|---|---|---|---|---|
| Microtraction | Lagos | Pre-seed / Seed | $100K–$150K | Fintech, SaaS, Health | Cowrywise, 54gene, Lemonade Finance |
| Ingressive Capital | Lagos | Pre-seed / Seed | Up to $500K | Fintech, Agritech, SaaS | Bamboo, SEND, Bitnob |
| GreenHouse Capital | Lagos | Early to Growth | ~$250K | Fintech, Healthtech | Flutterwave, Helium Health |
| TLcom Capital | Lagos/Nairobi/London | Early–Growth | $1M–$3M | Multiple tech sectors | Andela, Kobo360, Ilara Health |
| EchoVC Partners | Lagos | Seed to Growth | Varies | Healthtech, Logistics | LifeBank, Lori Systems, Gro Intelligence |
| Future Africa | Lagos | Early-stage | $10M+ deployed | Fintech, Mobility | Flutterwave, Moove |
| CcHub Growth Capital | Lagos (CcHub) | Post-incubation | Variable | Social tech, Gov‑tech | CcHub-incubated startups |
✅ Tips for Founders in Lagos
- Choose a VC aligned with your stage: Firms like Microtraction and Ingressive are ideal for seed rounds, while TLcom and EchoVC are suited for startups ready to scale.
- Leverage the ecosystem: Engage with hubs like CcHub and attend summits (e.g. AfricArena) to build traction and visibility.
- Prepare for challenges: While Lagos provides market access, infrastructure limitations and talent brain drain are real hurdles.
- Explore hybrid support models: Many VC firms offer mentorship and network access beyond just funding—ensure you tap into that value.
Lagos’s tech ecosystem continues to grow rapidly, supported by a vibrant VC network that spans early-stage to growth capital. Whether you’re an early-stage innovator or a scaling enterprise, firms like Microtraction, Ingressive, GreenHouse, TLcom, EchoVC, Future Africa, and CcHub Growth Capital offer diverse pathways for funding, mentorship, and market access.
