Ventures Platform has appointed Dotun Olowoporoku as a new venture partner in a bid to strengthen the Venture Capital’s position as a solid funding partner for Africa’s startups.
The appointment is coming less than 6 months after the pan-African VC firm’s first close of its $40m fund, through which it has already invested in 10 of the most promising startups in Africa.
Dotun will be supporting Ventures Platform portfolio founders with investor relations, corporate governance, fundraising, international expansion, M&A and growth marketing.
Founded in 2016 by one of Nigeria’s most active early-stage investors, Kola Aina, Ventures Platform focuses on funding market-creating innovations that optimise for non-consumption.
Ventures Platform Fund is a discovery fund that invests early in mission-driven founders that are building capital-efficient platforms that democratise prosperity, plug infrastructural gaps, connect underrepresented communities, and improve livelihoods in Africa.
The firm provides smart capital and growth support for Africa’s boldest entrepreneurs, investing in pre-seed to Series A startups across several sectors, but is particularly bullish on Financial Services and Insurance, Life Science and Health tech, Edtech and Digital Talent Accelerators, Enterprise SaaS, Digital Infrastructure Plays, Agri-Tech, and Food Security.
The firm has built one of the largest technology start up portfolios on the continent, having invested in 74 companies spanning 6 countries, including Paystack (acquired by Stripe), Nomba (formerly Kudi), Reliance HMO, Brass, MarketForce, Mono and Piggyvest.
To-date, Ventures Platform portfolio companies have gone on to raise more than $600m in follow-on funding.
Dotun will join the existing Venture Partner – Seni Sulyman and the broader Ventures Platform team as they continue to scale their investments and impact in Africa. The appointment is aimed at strengthening the VCs position as a solid funding partner for Africa’s startups.
Dotun Olowoporoku, who has worked alongside the Ventures Platform team for a number of years, says, “I believe innovative entrepreneurs will significantly shape the future of the continent for the better, and Ventures Platform has demonstrated a good track record of finding and funding them. I’m excited and privileged to also contribute to the fund’s growth and expansion”
Founding Partner, Kola Aina adds, “As we deepen our expertise and invest in the growth of startups across Africa, it is important for us to partner with investors and experienced operators who have deep market experience and whose personal beliefs align with our thesis. Dotun is a fantastic complement to our growing team and we are honoured to have him on board.”
Dotun Olowoporoku is an accomplished entrepreneur, investor, and former Principal at Pan African VC firm, Novastar Ventures. He is currently the Chief Commercial Officer at TeamApt, with oversight on fundraising, investor relations, strategic investment, and acquisition.
