Acasia Ventures establishes Lagos office
Acasia Ventures, the venture capital investment arm of Acasia Group, has opened the doors of its new office in Lagos, Nigeria, in a bid to extend its reach across the African continent and connect with founders and stakeholders on the ground.
“We have our heritage in Egypt, but we really believe in the future of the whole continent,” Acasia Ventures general partner, Biola Alabi said. “That is why our new office in Lagos should provide a platform to deepen our relationships with the market, by having an in-person presence in Nigeria.”
Bolstering Acasia Ventures’ commitment to the continent and West Africa specifically, the new space doubles down on the firm’s presence in the region. The office is situated at the city’s Impact Hub building, which is affiliated with a global network of locally-founded and -operated impact innovation incubators, accelerators, coworking spaces, and non-profit organisations.
Acasia Ventures has so far invested in 13 startups, of which 12 are located in Africa and two are based in Nigeria specifically, namely Credable and Fez Logistics.
“As we’ve seen in previous economic crises, these are the times when companies that will shape the future for the better are built, and investing in those companies today is how we plan to contribute to Africa’s economic and social development,” Alabi said.