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Olumide Soyombo Launches Pan-African VC Firm, Voltron Capital

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Olumide Soyombo, one of Africa’s most prolific and active early-stage investors in tech startups, has today announced the launch of Voltron Capital – a Pan-African pre-seed & seed firm for elite tech founders tackling critical problems in the continent’s largest markets.

Co-founded alongside Abe Choi, CEO of Simple Dealer, the new firm will deploy capital in up to 30 startups across a range of sectors and marks a major bid to address the severe lack of access to early-stage funding for African tech companies. 

With a ticket size of $20,000 – $100,000 per company, Voltron Capital’s portfolio will primarily focus on startups in Nigeria, Kenya, South Africa and Northern Africa, and is headed by a founding team with a robust investment track record.

In Soyombo, who is also the Co-Founder of LeadPath Nigeria and Bluechip Technologies, the team has over 10 years of experience of early stage investing, with a portfolio of 33 African tech startups including Mono, PiggyVest, Spleet, Migo, TeamApt and Paystack.

During his time as an investor, Soyombo’s portfolio has raised over $70m, ranging from pre-seed to Series A, and he has also overseen two secondary and one primary exits.

Voltron Capital’s Co-Founder, Abe Choi, has also invested in 15 tech startups – two of which have been exited and collectively, the founders’ existing portfolio spreads across a vast range of sectors including finance, energy, logistics, retail and education. 

Speaking on the launch of his new firm, Olumide Soyombo, Co-founder at Voltron Capital, says “Voltron Capital is the beginning of another incredibly exciting journey for Abe and I, but it is also a celebration of the road Africa’s entire tech space has travelled to-date.” 

Soyombo was an early investor in Paystack, the fintech company that exited to Stripe in October 2020. The exit and subsequent liquidity event revealed a maturing in the African tech market, validating early investment decisions. His work in corporate Nigeria has also allowed him to access non-traditional capital for the tech VC ecosystem. 

Soyombo continues, “We hold a track record of identifying and supporting some of Africa’s most high-growth startups to-date with capital at pre-seed stage and also hold long-established relationships with corporates and regulators, which can make what can often be a difficult path for African startups much smoother.

We want the next wave of African tech success stories to not only make an impact on the continent, but to be truly global; through Abe’s strategic connections to the USA, we’re confident we can provide our portfolio with the best possible opportunities to achieve this through our US and global network. ”

Despite total funding for African tech startups passing the $1bn mark last year, according to Briter Bridges, more than half of these deals were attracted by a select group of late-stage startups, leaving numerous early-stage tech firms competing for a limited share of funds.

According to the IFC, 82% of African tech startups face major problems in accessing capital with insufficient seed funding and a lack of angel investors, some of the most prominent issues mentioned. 

With Africa’s internet economy projected to contribute over $180bn by 2025, emerging tech companies are set to play a crucial role in unlocking this value across the continent’s key verticals.

However, without early-stage funding, many of the startups primed to drive this growth are missing out on vital capital to support their early operations and generate revenue, which is a key requirement for securing later rounds of funding and larger scale.

The end result of this could not only impact the immediate lifespans of these businesses, but also result in a major loss in value for Africa’s consumers, wider tech ecosystem and ultimately, its economy. 

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Kingsley Adonu’s Journey: A Tale of Hard Work and Dedication in the Telecom Industry

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In the fast-paced world of telecommunications, success is often attributed to those who demonstrate exceptional dedication and hard work. Kingsley Adonu’s remarkable journey stands as a testament to these qualities, paving the way for him to become a valuable partner with MTN, a leading global telecommunications company.

Adonu’s story begins with a humble background, where he cultivated a strong work ethic from an early age. His relentless pursuit of excellence caught the attention of industry leaders, setting the stage for a career marked by determination and resilience.

One of the key factors that propelled Adonu to success was his unwavering commitment to learning and staying ahead of industry trends. He immersed himself in the dynamic world of telecommunications, acquiring the knowledge and skills needed to navigate the rapidly evolving landscape. Adonu’s continuous pursuit of knowledge not only enhanced his expertise but also positioned him as a visionary in the field.

As he climbed the career ladder, Adonu faced numerous challenges, but his tenacity and commitment to overcoming obstacles set him apart. His ability to adapt to changing market dynamics and capitalize on emerging opportunities made him a standout professional in the telecom sector.

Adonu’s pivotal moment came when he aligned his efforts with MTN, a global telecom giant known for innovation and cutting-edge technology. Recognizing Adonu’s track record of hard work and dedication, MTN saw a valuable partner in him. The partnership marked a significant milestone in Adonu’s career, opening doors to new possibilities and avenues for growth.

The success of Adonu’s collaboration with MTN can be attributed to his strategic vision and innovative thinking. As a partner, he played a crucial role in steering the company toward continued success, contributing to its expansion and influence in the telecommunications market.

Kingsley Adonu’s journey serves as an inspiration for aspiring professionals in the telecom industry. His story underscores the importance of hard work, dedication, and a passion for continuous improvement. Adonu’s ascent to becoming an MTN partner is a testament to the transformative power of perseverance and a relentless pursuit of excellence in the dynamic world of telecommunications.

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Meet Kingsley Adonu

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In the dynamic world of entrepreneurship, there are visionaries who not only navigate the business landscape but redefine it. Meet Kingsley Adonu, the Founder and Chief Executive Officer of the SMobile Group, a conglomerate that stands as a beacon of excellence and diversity in the global business arena.

Kingsley Adonu is a visionary entrepreneur and the Founder of the SMobile Group, a conglomerate synonymous with excellence and diversity. As the Chief Executive Officer, he has steered the group to remarkable heights, overseeing a spectrum of businesses that span across Telecommunications, Oil and Gas, Real Estate, Hospitality, Water Production, Agriculture, Technology, E-commerce, Energy, Sports, Entertainment, Education, Health, Logistics and Financial Services, with branches extending globally to UK, USA, China, South Africa, and Canada.

Under Kingsley’s astute leadership, SMobile Group has emerged as a major partner for MTN, evident in the impactful presence of the SMobile brand in the telecommunications landscape. His strategic insights and forward-thinking approach have positioned the group as a dynamic player in multiple industries.

Beyond the boardroom, Kingsley Adonu is a dedicated philanthropist, committed to making a positive impact in communities. His philanthropic efforts extend beyond business, reflecting a deep-seated belief in the responsibility of successful individuals to contribute meaningfully to society.

Kingsley’s influence is not confined to national borders; he has actively participated in numerous international telecom conferences, further enriching his understanding of global industry trends and fostering valuable connections with industry leaders worldwide.

With an unwavering commitment to excellence, Kingsley Adonu continues to inspire and lead the SMobile Group towards new horizons, blending business acumen with a passion for positive societal change.

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MyShopLauncher (MSL) Launches to Empower African SMEs with Revolutionary E-Commerce Platform, Unparalleled Support

Reporter: SANDRA ANI

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MyShopLauncher
MyShopLauncher team at the launch of the eCommerce platform for startups and SMEs in Nigeria.

Today marks a significant milestone as MyShopLauncher proudly announces its official launch, bringing forth a groundbreaking e-commerce platform designed to redefine the landscape for small and medium-sized enterprises (SMEs) in Africa. 

According to statista, the revenue in the E-commerce market in Africa was forecast to continuously increase between 2024 and 2028 by in total 15 billion U.S. dollars (+48.88 percent).  

After the sixth consecutive increasing year, the indicator is estimated to reach 45.72 billion U.S. dollars and therefore a new peak in 2028. 

MyShopLauncher
L-r: Akintunde Opawole, head of Product; Tochukwu Udunwa, Product Marketing Manager, and Susan Agbor, Head of Marketing, all from MyShopLauncher, during the launch of eCommerce platform for startups and SMEs in Nigeria.

A Vision Fueled by Empathy 

Founded two years ago, MSL’s inception was rooted in the recognition of the struggles faced by African merchants managing their businesses manually.  

The MSL team embarked on a journey that involved extensive conversations with entrepreneurs, surveys, and rigorous testing of theories.  

This painstaking process led to the development of a product that not only offers a no-code e-commerce storefront free of charge but also reflects a genuine commitment to the welfare and growth of SMEs. 

More Than a Platform: A Caring Community 

At the heart of MSL’s mission is a desire to forge connections that extend beyond business transactions. Beyond providing no-cost storefronts, MSL is dedicated to creating real bonds with business owners, offering support, guidance, and the tools needed for success.  

This commitment goes beyond the conventional, embodying a genuine care and concern for the thriving of SMEs in Africa. 

MSL’s Unique Selling Propositions (USPs) – A Platform with Heart: 

  • No-Cost Storefront: MSL offers a no-code e-commerce storefront, empowering merchants without any upfront charges. 
  • Customer Centricity: Beyond transactions, MSL is driven by a deep commitment to understanding and meeting the unique needs of each business owner. 
  • Educational Support: MSL provides free access to educational resources and coaching to accelerate the growth and development of SMEs. 
  • Real Connections: MSL fosters genuine connections, creating a community where business owners are not just clients but valued partners on the path to success. 

In an era where commerce often feels transactional, MSL stands apart as a platform with heart, a platform driven by the vision to uplift, empower, and support African SMEs. As we launch, we invite entrepreneurs to experience not just a product but a community—a community that cares deeply about their success. 

“At MSL, we believe that the success of SMEs is not just about transactions; it’s about building relationships, understanding aspirations, and providing unwavering support. Our platform is not just a tool; it’s an extension of our commitment to the dreams and growth of African business owners.” — Akintunde Opawole , Head of Product of MyShopLauncher. 

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