Nigeria accounts for more VC deal flow than any other country on the continent. With over 220 million people and some of Africa's most technically sophisticated founders, it is the first market Ajim Capital mapped and the one with the deepest portfolio concentration.
Nigeria is where the companies changing how the continent transacts, trades, and operates are being built at the fastest pace. The concentration of technical talent, the scale of the informal economy, and the density of infrastructure gaps create the conditions for category-defining companies.
Nigeria secured $520 million in equity funding in 2024, retaining its position as Africa's top VC investment destination. The country leads in both deal count and absolute funding — and at the pre-seed and seed stages, the pipeline of exceptional founders is the strongest on the continent.
Nigeria dominates African VC not because of luck but because of structural advantages: the largest population on the continent, the highest density of software engineers, and the deepest mobile money adoption outside East Africa. The companies building here are doing so with a 220-million-person addressable market on their doorstep.
Ajim Capital writes the first check at pre-seed and seed for exceptional Nigerian founders.