EchoVC Partners – Focused on Growth
EchoVC Partners is an experienced venture capital firm based in Lagos, Nigeria. The company is particularly focused on seed and early-stage investments in growth technology ventures.
EchoVC Partners provide financial backing and the leverage that a network of international connections brings. The main targeted sectors are software, ICT, internet, SmartData, digital media, tech-enabled services and mobile.
Overview of EchoVC Partners
EchoVC Partners was founded by Eghosa Omoigui who continues to serve as general partner. The company was launched with the goal of capitalising on the benefits that geodiversity and knowledge transfer provides in successfully funding the top companies and entrepreneurs that are funded. EchoVC Partners began making strategic investments focused on the underserved seed or early-stage venture and growth capital technology sector in Africa and soon expanded to include Southeast Asia and other regions.
The EchoVC Partners headquarters is located in Lagos, Nigeria in Africa. The company also has operational bases throughout other areas in Sub-Saharan Africa, North America and Europe and a network of connections in the consumer, data, media and devices industries across the globe. The following are some of the countries are targeted for investment potential: Angola, Botswana, Congo, Côte d’Ivoire, Djibouti, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Kenya, Lesotho, Malawi, Mali, Mozambique, Namibia, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Tunisia and Zimbabwe
Some of the investments led by EchoVC Partners in the United States and India include GraphScience, Retailigence, Frid.ge, Stipple, Betaworks, Voxify, Sense Networks, SmartZip, BuzzIn Town, YatraCerebra, MediaSpike and Vriti. Investments in Africa include Printivo and Hotels.ng. One of the most recent investments is in Lori Systems, a Kenya-based logistics platform revolutionising the cargo-transport value chain in Africa. Other significant investments include:
- PayJoy – A United States-based technology company that provides smartphone-enabled consumer financing solutions. EchoVC participated in the Series B funding round in May 2019 during which $20 million was raised.
- WorldCover – A United States-based company that offers satellite-enabled insurance delivered with mobile money with the goal of protecting farmers around the world from droughts. EchoVC Partners participated in the Series A funding round in May 2019 during which $6 million was raised.
- Kukua – A United Kingdom-based edutainment company. EchoVC Partners was the lead investor during the Seed funding round in November 2018 during which $2.5 million was raised.
EchoVC Partners in the News
In November 2019, Ventureburn reported on the lack of women and the role of foreign founders in the African technology sector. It was reported that EchoVC Partners’ Eghosa Momoigui was part of the discussion panel. Technode and Weetracker both reported in November on the Series A funding round in the Kenyan logistics startup Lori Systems in which EchoVC Partners participated alongside Timon Capital, Endeavors Catalyst and Apoletto Asia. A total of $30 million was raised. Also in November 2019, Disrupt Africa reported on the African startup scene and EchoVC Partners shared the view that there is a bottleneck when it came to experienced fund managers in the industry.