Lagos Angel Network's Investment Criteria for Startups

During a panel discussion at the GITEX Nigeria 2026 event in Lagos, Dr. Solomon King, Executive Director of the Lagos Angel Network (LAN), indicated that the network may not find startups valued above $5 million attractive for investment. He explained that LAN's investment approach is influenced by the stage and characteristics of the startups.

The network prefers businesses that have progressed beyond the idea stage and can demonstrate market operation and revenue generation. King highlighted the importance of evaluating founders based on their temperament, character, and resilience in facing challenges.

He advised entrepreneurs to understand the funding ecosystem and to seek investors whose mandates align with their specific stage and capital needs. LAN, founded in 2014, aims to support early-stage ventures in Lagos through funding and mentoring.

In 2025, LAN partnered with the African Angel Academy to create the Lagos Angel Fellowship, a program designed to onboard new angel investors into the ecosystem.