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The Venture Codex

Growth Capital

294 Herbert Macaulay Way, Lagos, Nigeria

Overview

Growth Capital is a Nigeria's first social innovation fund aimed at creating an unprecedented path to scale for outliers driving social change in Nigeria. They support high potential, early stage businesses building their next generation infrastructure using technology. Their participating investors bring their experience, resources and networks together to work for their investees to catalyze their path to growth

Total investments
3
Lead investments
0
Investments · 12mo
0
Active investors
2

Sector focus

  • Financial Services
  • Social
  • Social Impact
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Investment portfolio

  • Paysend

    Participated · Equity · Nov 2023

    Founded in 2017 and headquartered in the UK, Paysend operates a global digital payments network that connects more than 25 billion endpoints and serves over 12 million customers. The platform supports cross-border transactions in more than 170 countries and has reported increasing payment volumes as it scales internationally. Paysend offers products for both consumers and enterprises and continues to expand its product suite. The company emphasizes development of proprietary technology to underpin its network and product roadmap. Recent funding from an existing investor is intended to accelerate geographic expansion and product launches. Claret Capital cited Paysend’s scalable infrastructure and execution against growth plans as reasons for the follow-on investment.

  • Well-Link Tech

    Participated · Series B · Sep 2022

    Founded in 2019 and based in Beijing, Well-Link Technologies develops real-time cloud rendering solutions for content and interactive scenarios. The company is building an integrated software and hardware stack, including a next-generation software architecture called "Ark" and a cloud rendering-based digital human platform. On the hardware side it established Siland to customize high-density GPU servers intended to improve processing efficiency and reduce costs; the first Siland shipments have been delivered. Well-Link has showcased its technology with a cloud-native game demo and a strategic partnership to debut a digital actor, signalling focus on high-quality content and digital human applications. The company plans to expand into VR/AR and other scenarios, enable cloud-based content creation, and accelerate construction of next-gen computing and rendering architecture. The recent fundraise will support these product and deployment plans.

  • LifeBank

    Participated · Seed · May 2018

    LifeBank operates a logistics and delivery platform that sources and transports blood and other critical medical supplies to hospitals. The company was founded in 2016 by Temie Tubosun. LifeBank was named the winner of the inaugural Africa Netpreneur Prize and received a $250,000 award; Tubosun was also given the Africa Business Hero Award. The prize event took place in Accra, Ghana and was organized by the Africa Netpreneur Prize Initiative founded by Jack Ma. The article references prior coverage noting a $200,000 EchoVC-led round for LifeBank. LifeBank’s public profile in the article focuses on its mission of saving lives through timely delivery of medical supplies rather than on disclosed revenue or user metrics. LifeBank operates a healthcare supply-chain platform that collates real-time inventory information, deploys it to hospital clients using both high- and low-tech channels, and moves products in the right condition and on time. The startup has served over 300 hospitals, moved more than 9,000 products and says it has saved over 1,000 lives. Founded in 2016 by Temie Giwa-Tubosun and based in Lagos, LifeBank initially focused on blood delivery and essential medical supplies. With the new funding, LifeBank plans to extend its supply chain to include oxygen, vaccines, blood components and rare drugs, and to expand services across Nigeria with a focus on Northern Nigeria. The company was invited to join Merck’s Global Accelerator Programme earlier this year. LifeBank frames its mission as building a big business that saves lives by ensuring hospitals can access essential medical products.

Team