88mph, L5Lab partner to form 440 Nigerian investment fund

88mph, L5Lab partner to form 440 Nigerian investment fund

The 88mph hub in Nairobi, Kenya

African seed investment companies 88mph and L5Lab have partnered to create 440, which will invest in mobile and internet startups in Nigeria.

HumanIPO broke the news in December 88mph, which already runs accelerator programmes in Kenya and South Africa and has to date invested more than US$2 million in African startups, was to expand its operations to Nigeria in the first quarter of this year.

“In mid-February 2014 we will be in Lagos and we are very excited. We will start to renovate the tech space, meet more investors, interesting startups, and finalise partnership deals,” Sylvia Brune, manager at 88mph, said at the time.

Invites have now been sent out to a launch event to take place on Friday, February 28, in Lagos, at which 88mph founder Kresten Buch and L5Lab founder Chika Nwobi will speak about the new partnership, their previous investments and the future of tech businesses in Nigeria.

“You are a potential investor, entrepreneur or partner and want to get involved. Or maybe you just heard about WhatsApp’s sale for US$19 billion to Facebook, and you’re wondering if you also can make money investing in mobile/internet,” the invite read.

88mph’s previous investments include gaming startup Gamsole, music streaming service Mdundo and taxi hailing service Zapacab, while L5Lab was an early investor in jobs service Jobberman, car site Cheki and bus ticketing Oya.

Posted in: FeaturedStartups

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