ARM Trustees Appointed Sole Trustee for Pioneering Naira Debt Fund

ARM Trustees Limited is proud to have been appointed as Sole Trustee for the FCMB-TLG Private Debt Fund, Nigeria’s first Naira-denominated Private Debt Fund!

The Fund was established in the month of May 2024 with approval from The Securities and Exchange Commission (SEC), managed and sponsored by FCMB Asset Management Limited (FCMBAM) and TLG Capital Investments Limited (TLG Capital), United Kingdom respectively.

The Fund aims to raise N10 billion under Series 1 of its N100 billion program size. The FCMB-TLG Private Debt Fund is targeted at Qualified Institutional Investors (QIIs) and highnet-worth individuals (HNIs). It will invest in commercially viable and impact-oriented activities across key sectors of the Nigerian economy, aligning with the United Nations (UN) Sustainable Development Goals (SDGs).

This offers investors a chance to earn competitive, risk-adjusted returns while supporting sustainable economic growth.

James Ilori, CEO of FCMB Asset Management Limited, highlighted the significance of this Fund at the signing ceremony on Monday, June 3, 2024: “This innovative Fund is a significant milestone in the Nigerian financial landscape. It opens a new avenue for professional investors to participate in the growth of key sectors of the economy while providing essential capital to organisations driving sustainable economic growth and development in Nigeria.”

Aletor Adoghe, representing TLG Capital in Nigeria, shared, “We are delighted to partner with FCMB Asset Management in pioneering this Fund. The Fund aligns with our commitment to investing in untapped markets and will significantly contribute to Nigeria’s broader economic development.”

 

We at ARM Trustees are excited to be at the forefront of this innovative initiative, poised to play a crucial role in supporting the growth and development of selected sectors and deepening in the Nigerian Capital Market by continuing to support innovations across the market.

ARM Labs Lagos Techstars Accelerator to showcase 12 Innovative Startups at Demo Day

ARM Labs Lagos Techstars Accelerator Demo Day

Lagos, Nigeria – February 1st, 2024 – The ARM Labs Lagos Techstars Accelerator is excited to announce its Demo Day event, set to take place on February 20th, 2024, at 3PM WAT in Lagos, Nigeria.

The invite-only event  will showcase the accelerator’s 12 new investments, operational in Ghana, Nigeria, and East Africa. The sectors invested in include FinTech, HealthTech, B2B SaaS, Cleantech, Logistics, E-commerce and Big Data.

This Demo Day concludes a 13-week acceleration program designed to support the next generation of entrepreneurs that are changing Africa and the world, by using technology, data and intelligence to serve a population growing in size, youth, income and digital access.

Since the program commenced on November 13th, 2023, the startups have engaged with over 90 mentors and speakers including, Kevin Simmons, General Partner at LoftyInc Capital; Tingting Peng, Chief Capital & Strategy Officer at Moove; Shola Akinlade, Founder/CEO at Paystack; Kola Aina, Founding Partner at Ventures Platform; Tunde Kehinde, Founder/CEO at Lidya; Olatokunbo Alli, Managing Director at Leadway Health; and Yischai Beinisch, Head of West Africa – Emerging Market Power at Shell Energy Europe & Africa.

One of the founders in the class, Ayodeji Alaran- Founder/CEO, PBR Life Sciences remarked “The ARM Labs Lagos Techstars Accelerator has served as a pivotal moment in our company’s development. In just two months, we’ve made significant strides that would have taken us three to four times as long to accomplish without the program’s support. The guidance and resources provided by the program team, mentors, and ARM have been instrumental in propelling us into a new phase of growth.”

The Program’s Managing Director, Oyin Solebo stated, “In 2023, against a backdrop of declining global VC funding, Techstars increased their investment into African startups, becoming the most active startup investor in Africa. Our continent is a hotbed of talent and innovation. The 12 startups graduating from our latest ARM Labs Lagos Accelerator epitomize this. Having worked closely with the founders to accelerate their businesses over the last 13 weeks, I’m incredibly proud to have the opportunity to showcase them to the world.”

Sadiq Mohammed, Deputy Group CEO, ARM Hold Co, expressed his excitement about the startups stating “At ARM, we believe that collaboration is essential for driving sustainable growth and development in Africa. This is why we are proud to have partnered with Techstars on this accelerator, which is helping to foster a new generation of entrepreneurs. I strongly believe that the startups in this second cohort are poised to revolutionize various industries in Africa.”

Oluwadunni Fanibe, Program Manager added “At Techstars, we believe that innovation and entrepreneurship are critical drivers of economic growth and development, our program is designed to provide the resources, mentorship, and network entrepreneurs need to succeed not just locally but globally as well. We are excited to showcase the startups growth in the last 13 weeks, come February 20th.” 

Doors for Demo Day open for registration and networking at 2PM. Event commences at 3PM with an opening address from Oyin Solebo, the program’s Managing Director.

In addition to the pitches from all 12 startups, the event will feature a keynote address from Tayo Bamiduro and Chinedu Azudoh, the founders of Max.ng – Techstars’ first African investment, as well as a fireside chat with one of the most prolific angel investors on the continent, Olumide Soyombo. The event will end with a cocktail reception for key stakeholders and decision-makers in the African tech and VC ecosystem – another opportunity to network and build connections.

The 12 startups presenting at Demo Day include: 

  • 24Seven – 24Seven is an asset-light marketplace that enables small businesses and convenience stores to order inventory on credit with one-hour doorstep delivery; founded by Olufemi Idowu.
  • BeautyHut – Beauty Hut leverages technology to bridge the gap between beauty brands and consumers through efficient product distribution and marketing channels, via their e-commerce web-store and mobile app; founded by Subuola Oyeleye.
  • Eight Medical – Eight Medical is an end-to-end platform that connects users in need to emergency medical resources (such as hospitals, ambulances, personnel, information & credit), reducing waiting times from an average of 3 hours to 10 minutes or less; founded by Dr. Ibukun Tunde-Oni.
  • GetEquity – GetEquity facilitates access to investment opportunities by SEC-accredited providers, reducing entry barriers through investment aggregation across various asset classes; founded by Jude Dike, Temitope Ekundayo and Chigozirim Ugochukwu.
  • Jump n Pass – Jump n Pass is a mobile self-checkout platform and wallet that improves shopping experiences for shoppers, whilst enabling retailers to access inventory financing, and brands to sell more; founded by Tunde Ademuyiwa and Qudus Quadry.
  • One Plan – Through One Plan, workers in Africa’s informal economy can create affordable financial plans, making it easier to start a retirement plan, access low-interest credit, and access health plus life insurance cover; founded by Harold Awuah-Darko.
  • PBR Life Sciences – PBR Life Sciences offers pharmaceutical, consumer healthcare and medical device companies fast and easy access to high-quality market data and insights, helping them make objective decisions on product pricing, volumes and company strategy; founded by Ayodeji Alaran.
  • PressOne Africa – PressOne Africa provides African businesses with deeper insights into phone conversations with customers through a communication platform that provides conversation intelligence and call monitoring; founded by Mayowa Okegbenle, Opeyemi Shokunbi and Unoma Adeyemi.
  • Rana Energy – For critical-sector businesses and communities, Rana democratizes access to clean and reliable power by connecting affordable financing to impactful and bankable projects through a B2B energy-as-a-service platform; founded by Abraham Mohammed and Mubarak Popoola.
  • Surge Africa – Surge Africa allows individuals, micro-entrepreneurs and MSMEs in Africa to make instant cross-border transfers and pay up to 80% less in fees; founded by Kumar Shourav and Ebrahim Essop.
  • Swoove – Swoove is building an operating system to enable delivery businesses in emerging markets to digitize and scale their operations. With Swoove’s platform, businesses can efficiently hire & manage drivers, automate operations, and access an ecosystem of logistics-focused financial services; founded by Kwaku Tabiri, Kingsley Amponsah, Gloria Pascucci, Robert Quainoo and Kevin Blankson.
  • Veend – Veend provides access to on-demand funds for consumers and businesses with verifiable income, offering an innovative ecosystem approach to lending. This approach enables the verification of creditworthiness and collection of repayments from a single source; founded by Olufemi Olanipekun and Ebenezer Ajayi.

The in-person event is invite-only for investors, mentors, press, alumni founders, senior operators and ecosystem leaders. If you would like to attend virtually, or express your interest in attending in-person, please register here.

About Techstars

The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas – entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 4,000 companies with a combined market cap of more than $105B. www.techstars.com

About ARM

Established in 1994 as an asset management firm, ARM offers wealth creation opportunities through a unique blend of traditional asset management and alternative investment services. ARM enables businesses to thrive, and helps its clients to maximise their returns and realise their most important goals. For almost three decades, ARM has  built a firm uniquely equipped to achieve these objectives and its reputation for quality research, investment expertise and value-added services has endeared it to clients both locally and internationally.

ARM Empowers Tech Innovators: Unveils 12 New Investments in Partnership with Techstars

ARM-Labs-Lagos-Techstars cohort 2

Lagos, Nigeria – December 14, 2023: ARM Labs, the prominent Lagos-based financial services and asset management company, proudly unveils its second cohort in partnership with Techstars, acknowledged as one of Africa’s most active startup investors. Announcing the participation of 12 companies in its pan-African accelerator program, this milestone follows the triumph of the inaugural program and signifies the continued commitment of ARM Labs Lagos Techstars Accelerator to empower entrepreneurs shaping the future of Africa and global innovation.

The 2023 cohort, selected from over a thousand applications, delivers tech-enabled solutions across various verticals in Sub-Saharan Africa. The sourcing and selection was led by Managing Director for the accelerator, Oyin Solebo. It culminated in a screening committee joined by fellow directors at Techstars, executive leaders at ARM – Jumoke Ogundare, Sadiq Mohammed, Wale Odutola, Uche Azubuike and Ina Alogwu; as well as selected invited seasoned investors – Nneka Eze of Vested World, Maya Horgan Famodu of Ingressive Capital, Olumide Soyombo of Voltron Capital and Dotun Olowoporuku of Ventures Platform. 

For its first cohort, the program had initially focused on companies operating in FinTech and PropTech, but this year expanded to focus more broadly on entrepreneurs that are changing Africa and the world, by using technology, data and intelligence to serve a population growing in size, youth, income and digital access. Sectors invested in include FinTech, Logistics, E-commerce, HealthTech, Renewable Energy, and Future of Work.  The cohort comprises startups operating in Ghana, Nigeria and East Africa, and has four teams with at least one female co-founder. 

The 14-week immersive program will see Techstars invest up to $120,000 in funding in each startup as well as provide them with access to over $400,000 in cash equivalent hosting, accounting and legal support and other benefits worth more than $5M. The selected startups will also receive tailored mentorship, world-class company-building support, lifetime access to the Techstars worldwide network and targeted interactions with prospective investors to ensure that the continuum of follow-up capital is available as they grow. By partnering with ARM Labs, founders are also exposed to ARM’s local network, research and insights and decades long financial advisory expertise. 

The selected companies are, in alphabetical order: 

24Seven, founded by Olufemi Idowu, is an asset-light marketplace that enables small businesses and convenience stores to order inventory on credit with one-hour doorstep delivery.

Beauty-Hut

Beauty Hut leverages technology to bridge the gap between beauty brands and consumers through efficient product distribution and marketing channels, via their e-commerce web-store and mobile app. It is founded by Subuola Oyeleye.

Eight-Medical

Eight Medical, by Dr. Ibukun Tunde-Oni, is an end-to-end platform that connects users in need to emergency medical resources (such as hospitals, ambulances, personnel, information & credit), reducing waiting times from an average of 3 hours to 10 minutes or less.

GetEquity

GetEquity facilitates access to investment opportunities by SEC-accredited providers, reducing entry barriers through investment aggregation across various asset classes. It is founded by Jude Dike, Temitope Ekundayo and Chigozirim Ugochukwu.

Jump-n-Pass

JumpnPass, by Tunde Ademuyiwa and Qudus Quadry, is a mobile self-checkout platform for modern retail in Africa. They enable shoppers to use their smartphones to effortlessly scan product barcodes, pay for items, and skip long queues.

One-Plan

One Plan helps workers in Africa’s informal economy create affordable financial plans, making it easier to start a retirement plan, access low-interest credit, and access health + life insurance cover. It is founded by Harold Awuah-Darko.

PBR-Life-Sciences

PBR Life Sciences offers pharmaceutical, consumer healthcare and medical device companies fast and easy access to high-quality market data and insights, helping them make objective decisions on product pricing, volumes and company strategy. The company is founded by Ayodeji Alaran.

PressOne

PressOne Africa provides African businesses with deeper insights into phone conversations with customers through a communication platform that provides conversation intelligence and call monitoring. It is led by Mayowa Okegbenle, Opeyemi Shokunbi and Unoma Adeyemi.

Rana

Rana democratises access to clean and reliable solar systems for SMEs and residential customers through affordable long-term solar subscriptions, replacing the need for expensive, unreliable, and toxic backup generators. The company is founded by Abraham Mohammed and Mubarak Popoola.

Surge-Africa

Surge Africa, founded by Kumar Shourav and Ebrahim Essop, allows individuals, micro-entrepreneurs and MSMEs in Africa to make instant cross-border transfers and pay up to 80% less in fees.

Swoove

Swoove empowers logistics companies in emerging markets to digitise and scale their businesses with dispatch automation, fleet management, tracking and telematics, and a wide delivery network. It is led by Kwaku Tabiri, Kingsley Amponsah, Gloria Pascucci, Robert Quainoo and Kevin Blankson

Veend

Veend, founded by Olufemi Olanipekun and Ebenezer Ajayi, enables individuals and businesses with verifiable income to access funds on-demand, addressing their needs for emergency funds or working capital.

Expert Guidance from Industry Leaders

The selected companies will benefit from mentorship sessions led by notable experts in the African tech ecosystem, including Tunde Kehinde (Founder/CEO, Lidya), Bode Abifarin (COO, Flutterwave), Tingting Peng (Chief Capital & Strategy Officer, Moove), Kevin Simmons (Partner, LoftyInc), Lola Esan (Partner, EY), and Yischai Beinisch (Head, West Africa – Emerging Market Power, Shell Energy Europe & Africa).

A Wealth of Opportunity

Oyin Solebo, Managing Director, ARM Labs Lagos Techstars Accelerator commented, ‘Our second cohort truly showcases, and perhaps also epitomises, the wealth of talent, innovation and ingenuity that can be found within the African tech ecosystem. Supporting this group in reaching their full potential feels like the perfect segway following the close and success of the inaugural cohort. The current market dynamics means that founders need a combination of financial support as well as technical assistance and access to networks in order to build resilient businesses. We are glad to be able to provide comprehensive support that covers this entire spectrum.’

Ina Alogwu, Group Director, Digital Transformation, ARM noted ‘Programs like the ARM Labs Lagos Techstars Accelerator enable us to comprehend, champion, and actively contribute to the growth of technology-driven solutions emerging throughout Africa, and we are thrilled to be on this journey for the second year running in collaboration with our valued partners.’

For additional information or interview requests with Managing Director, Oyin Solebo, please contact [email protected].

Demo Day and Beyond

The program concludes with an invite-only Demo Day on February 22, 2024, where founders will showcase their progress. Register here to attend.

The ARM Labs Lagos Techstars Accelerator continues to champion technology-driven solutions in collaboration with valued partners, contributing actively to Africa’s growth.

ARM and Techstars

ARM Labs Lagos Techstars Accelerator Program, powered by the collaboration between ARM and Techstars, aims to empower entrepreneurs for growth and success. Established in 1994, ARM provides wealth creation opportunities through asset management and alternative investments, while Techstars, founded in 2006, connects startups, investors, and cities, empowering entrepreneurs globally with investments in over 3,700 companies.

For more information, visit www.arm.com.ng and www.techstars.com.

APPLICATIONS CLOSE NEXT WEEK – APPLY NOW FOR THE 2023 ARM LABS LAGOS TECHSTARS ACCELERATOR PROGRAM

LAGOS, Nigeria, August 4, 2023 – 

Calling all early-stage startups based in Africa! The 2023 ARM Labs Lagos Techstars Accelerator Program is now accepting applications until August 9, 2023. Don’t miss this opportunity to receive up to $120,000 in investment and be a part of this transformative program! 

In partnership with ARM Labs, a Lagos-based innovation program, Techstars, the most active pre-seed investor in the world, is thrilled to announce the call for applications for its highly sought-after accelerator program. Following the success of the inaugural program in 2022, this year’s edition will focus on early-stage Africa-based startups. 

The three-month, in-person program will be held in Lagos, Nigeria. During the first month, selected startups will receive hands-on training and interact with over 100 Techstars mentors to refine their value proposition. The second month will feature guest speakers, tailored workshops, and one-on-one support to help founders execute and accelerate their businesses. The third month will be dedicated to preparing the startups for fundraising and building crucial investor relationships. 

The ARM Labs Techstars Lagos program is Techstars’ only on-ground accelerator in Africa and is supported by key ecosystem leaders in Africa, including Ashim Egunjobi, Partner at Octerra Capital, Tunde Kehinde, Founding member of Jumia and Founder and CEO of Lidya, Olumide Soyombo, Partner at Voltron Capital, Alice Tomdio, Chief Financial Officer of YellowCard, Amandine Lobelle, Chief Operating Officer of Paystack, and Adedeji Olowe, Founder and CEO of Lendsqr. 

Act Now – Applications Close on August 9, 2023 

Founders are encouraged to submit their applications early as they will be reviewed on a rolling basis. Don’t miss this unique opportunity to accelerate your startup’s growth and gain access to a global network of mentors, investors, and partners. 

The program will commence on November 13, 2023, and conclude with a Demo Day showcase on February 15, 2024. Last year’s invite-only Demo Day had over 400+ attendees in person, with an additional 2,500+ people streaming the event live on YouTube and LinkedIn. 

About Techstars:  

Techstars is the most active pre-seed investor in the world, having invested through its accelerators in more than 3,700 companies with a combined market cap of $99 billion. Founded in 2006, Techstars believes that entrepreneurs create a better future for everyone, and great ideas can come from anywhere. Its mission is to invest in an unprecedented number of startups per year, enabling more capital to flow to more entrepreneurs worldwide. Techstars operates accelerator programs and venture capital funds, connecting startups, investors, corporations, and cities to build thriving startup communities. Learn more at www.techstars.com. 

About ARM:  

Established in 1994, ARM is a leading investment management firm providing a wide range of wealth management services to a substantial and diversified client base, including corporations, foundations and charities, high net-worth individuals, and small savers. For more details, visit https://www.arm.com.ng/. 

 

Media Contacts:  

ARM Labs Lagos Techstars Accelerator:  

Oluwadunni Fanibe 

[email protected] 

 

Techstars: 

Amalia Lytle 

[email protected] 

 

 

UEL Centre of Fintech Podcast | A Holistic Approach to running a FinTech in an Emerging Market

Dr. Iwa Salami, Co-Director of the Centre of FinTech speaks to Mr. Ina Alogwu, Group Director, Digital Transformation at Asset & Resource Management Holding Company (ARM HoldCo) on ‘A Holistic Approach to Running a FinTech Business in an Emerging Market’. Mr. Alogwu shares useful insights from his wealth of experience in working with FinTech start-ups and comments on the role of incumbents and regulators in facilitating FinTechs with a view, amongst other things, to facilitate financial inclusion in developing and emerging markets.

This video is a must-watch for FinTech start-ups, incumbent financial services providers, and regulators in emerging markets.