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Venture Quest 10.0

About Venture Quest 10.0

Venture Quest 10.0 is a special call for entrepreneurs who believe that their businesses are invest-worthy to apply to Investment One Vencap Limited for funding.

Applications that are submitted on this portal between August 20th and September 10th, 2018 will be fast-tracked through our review and due diligence processes.  We envisage that within 4-6 weeks of closure of the portal, applicants would know whether or not their business ideas will be advanced to the due diligence stage.

As many companies that successfully scale our due diligence stage will receive cash investments in exchange for equity stake in each company.

Venture Quest FAQ

Who is championing Venture Quest 10.0?
Investment One Vencap Limited, a subsidiary of Investment One Financial Services Limited
Are there any fees?
No, submission is free of charge
What if I don’t have a business plan or pitch deck?
Submission of either a business plan or pitch deck is optional. The most important thing is to correctly and completely answer each of the compulsory questions on the portal
How many businesses will receive funding?
As many companies that successfully scale our due diligence stage will receive cash investments in exchange for equity stake
How much can each business get?
Each investment will range between N5m – N100m but it depends on the needs of each business
What if my business requires more than N100m?
Investment One Financial Services has a Private Equity division that makes larger ticket investments. Therefore, any investable idea that requires >N100m would be referred to that unit
What else do the businesses get?
  • Post-investment advice and business support for the lifetime of Vencap’s investment
  • Potential access to more funds through our proven funding syndicates
What is in it for Vencap?
  • Vencap will own minority stake in each of the businesses for 3 – 5 years and expects to exit these businesses with reasonable profit
  • The SME would have contributed to Nigeria’s GDP in terms of taxes (PAYE and Corporate) paid, jobs created and other indirect impact on its local economy
What can I expect during due diligence process?
Our due diligence process typically involves a combination of the following:

 

 

 

 

 

  • Legal due diligence to ascertain the legal status and ownership structure of the company
  • Corporate Governance (primarily for existing companies)
  • Financial and tax due diligence
  • Technology due diligence
  • Business due diligence to examine the industry dynamics and the assumptions that the entrepreneur has made to arrive at the business’ projections
  • Operational due diligence: measures the effectiveness of the company in achieving its desired objectives
  • Any other analysis that may be specific to the SME or its industry
Will there be a public announcement of the companies that successfully scale the due diligence stage?
Yes, the names of the Companies would be announced on our website and in the press. However, since the SMEs are private companies and in keeping with the usual practice in Venture Capital industry, the amounts invested and the equity stakes given up by the SME will not be announced.
What happens if I miss the September 10 submission deadline?

The portal will not allow submission of applications after midnight of the cut-off date. However, business plans and pitch decks can be submitted all-year round via the Investment One website or through vencap@investment-one.com

Does Vencap have any choice sectors?
Vencap is sector agnostic but believes that the following sectors are ripe for investment in Nigeria today:

 

 

 

 

 

Agriculture & Agro processing Logistics/Storage/Warehousing
Building & Construction Related Nigerian Fashion & Beauty Products
Fintech & Tech-enabled Renewable Energy and Recycling
Healthcare Semi-processed and Fast Foods
Light Manufacturing

(excludes Fashion & Beauty products)

Other

 

If I am outside Lagos, can I participate?
All applications are submitted online and initial due diligence will be conducted over the phone or by video conference.  However, you must be willing  and able to come down to Lagos for face-to-face meetings when requested
My business is 4 years old. Can I participate?
Yes, it is open to both startups and existing businesses
How much equity will Vencap own in any business it invests in?
Vencap will own minority take in any business it invests in (i.e. less than 50%)
What is Vencap’s target exit plan?
Vencap’s target exit plan is to sell back shares to founders of the various businesses it invests in