Iroko Partners founders, Jason Njoku & Bastian Gotter are set to invest $1 million in Nigerian technology startups through a new company, Spark. The company has created or seed funded up to 13 startups, including a travel lodging site and a property rental site and currently employs about 80 people.
Speaking on the company’s launch, Jason Njoku in a recent interview with Black Enterprise said:
We have so far identified 13 startups. They range from a cool t-shirt company to a property rental site—online services that are the norm in the West, but don’t really exist in Nigeria—until now. In our experience, the Internet is a young person’s game, so we’re working mostly with young people who understand the sector and who have the energy and willingness to put in the leg work. However, we are not focusing on any one particular group and we don’t discriminate. If you come to us with an awesome idea for an Internet company in Nigeria, that fills a gap in the market and that we can develop and monetize, then we can have a discussion. Talent wins at SPARK. If you have it in abundance, we can make some magic happen.
The company is looking to build tech companies in multiple verticals with smart entrepreneurs who have big ideas.