Why Lagos Angel Network may shun startups valued above $5 million
Startups with valuations above $5 million may not be attractive to the Lagos Angel Network (LAN), according to Dr. Solomon King, Executive Director of the network. The post Why Lagos Angel Network may shun startups valued above $5 million appeared first on Nairametrics .
The Lagos Angel Network (LAN) may be less inclined to invest in startups valued above $5 million, according to Dr. Solomon King, the network's Executive Director. King made this observation during a discussion at the GITEX Nigeria 2026 event in Lagos, explaining that LAN takes specific factors into account when evaluating startups.
These factors include the stage of the business and the characteristics of the founders. LAN prefers startups that have moved beyond the idea stage, are already operating in the market, and have some revenue. The network also considers the temperament, character, and resilience of founders in handling the challenges of building a company.
King emphasized that entrepreneurs should not assume that any investor is suitable for their business and should seek out investors whose mandates align with their stage, sector, and funding needs.
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