The founding partner, GreenHouse Capital, Mr. Bunmi Akinyemiju has said that between 2014 and 2016, the company has invested a sum of $10 million into 13 Small and Medium Enterprise (SMEs) companies in Nigeria.
Akinyemiju, during an exclusively interview with Business247 News Online over the weekend, noted that the 13 small business in Nigeria which the company had invested into are APPZONE, Prepclass, Resources, PAYPAD, MAXI.NG, Flutterwave, Talentbase, Riby, adspread, DC, SureBids, and tutor.ng.
He said that the purpose for creating GreenHouse Capital is to reach out to raw talent in Nigeria, who do not have the right environment, right encouragement and the right funding, thereby promoting them to become a Technological Entrepreneur in Africa.
According to him, the rationale behind the investing in Nigeria economy is to make Nigerians think local , developed locally and scale then globally, stressing that the company gives the right encouragement, right funding and right training for local investors before scaling them globally.
He added that all the money is not only coming from Nigeria or Africa, but rather from California, New York, and from across the world.
He stressed that such money would not come into Nigerian economy unless we have already ready-made Nigerian investor that have put their money down, so GreenHouse is also acting like catalysts to aid this development .
Akinyemiju noted that GreenHouse had invested in some companies that are doing business like micro lending, also companies that are into invention of new PoS, which are smaller and faster for banks. He said the company they had invested into could also produce instant card issuers with lot business technology.
We evaluate the business, he said, by looking at their needs with the impact this will produce on their businesses. He said that before giving them the required fund, it takes different stages, which could come in bit, “some of them could just start with at least just $500 and $300”, he added.
We are very excited today, he said, “we are very excited because three of the companies are now been founded by California based top investors.