Before you ask, Yes, I have done my bit so I'm looking for others who might be interested too.

Since Angel Investing is relatively limited or nonexistent in our dear country, I decided to do what I can by making limited investments in credible startups.
I do 5M max in Cash, Guarantees or a mix of both as either Equity or Debt.

Late April, I came across a promising solar energy startup. I was skeptical at first, as I didn't see a mass market appeal for solar due to its high initial cost. However, the recent energy crisis that the country just went through made me rethink my postion as Nigerians struggled to buy fuel at all cost.

Hence I decided to invest.

So far I have provided 2.5M in direct financing, helping them through incorporation, office space, equipment procurement and 3 month working capital for Q3 2015.

The second part of the funding is provided through Guaratees to the tune of an additional 2.5M bringing the total investment to 5M.

Hence,
The startup seeks to acquire a used operational vehicle valued at 4.6M that was repossessed from an auto-loan defaulter and now being auctioned off by the Bank at a ridiculous 2.6M.

Hence, they are looking for a financier. As stated earlier, in line with my funding commitment I will guarantee a maximum of 2.5M to cover any funding they receive (plus interest). I have made it clear that I will not exceed this benchmark hence I advised that they seek funding below this limit to accomodate interest commitments.

SUMMARY:
Funding Requirement: 2.0M
Tenure: 1 Month (30 calendar days from funding date)
Interest Rate: 12% per month (max)
Collateral: Landed Property valued at 2.3M (tendered by startup founder)
Additional Security: Post Dated cheque covering funding plus interest (issued by guarantor for a max repayment of 2.5M)
Timeframe: Interested financiers are welcome to indicate their interest before 18th July. Expression of Interest will terminate once a financier is engaged.

Check www.angelstartups.com.ng

promising...