Google for Startups and UK-Nigeria Tech Hub has matched 26 Nigerian Startups with 16 investors.
NewsOnline Nigeria reports that Google for Startups, the UK-Nigeria Tech Hub and the Office for Nigerian Digital Innovation (ONDI) have backed an investor-matching programme that connected 26 Nigerian startups with 16 venture investors in Lagos.
The Magna Investor Connection Drive, organised by Magna Collective, held on October 27, 2026, and facilitated 61 pre-arranged, one-on-one meetings between startup founders and investors.
The initiative was sponsored by Google for Startups, the UK-Nigeria Tech Hub, an initiative of the UK Government’s Foreign, Commonwealth and Development Office (FCDO), and ONDI, which operates under the National Information Technology Development Agency (NITDA).
The programme comes amid a recovery in funding for Nigerian startups, although investment remains concentrated among a relatively small number of companies.
According to Africa: The Big Deal, Nigerian startups raised $635 million in the first nine months of 2026, more than double the amount recorded during the same period in 2025 and the highest total among African countries.
However, only 77 startups raised at least $100,000 during the period, while a single $250 million deal involving Moove accounted for almost 40 per cent of the total funding.
The figures highlight the difficulty many early-stage founders face in accessing investors whose investment strategies align with their businesses.
Magna Collective said it designed the Investor Connection Drive to address this challenge by matching startups with investors based on funding stage, cheque size and sector focus.
Unlike conventional networking events, the programme required investors to review and approve their proposed meetings in advance, ensuring that each introduction was relevant to both parties.
Kelvin Umechukwu, co-founder and chief executive officer of commerce platform Bumpa, said the arrangement made discussions more focused and productive.
“The fact that investors have already seen our documents and decided they want to talk to us makes the experience a lot different, more impactful, and direct,” he said.
Lexi Novitske, general partner at Norrsken22, also highlighted the efficiency of the format, noting that the pre-arranged meetings helped investors identify businesses that could fit their investment pipelines.
“We don’t waste their time. They don’t waste our time. It’s quite efficient, and I think we met some incredible companies that’ll fit nicely into our pipeline,” Novitske said.
The participating startups operate across fintech, healthcare, artificial intelligence, logistics, energy, agriculture and education. More than two-thirds of the participating companies have women in leadership positions.
Eleven of the startups are alumni of Google programmes, including Google for Startups Accelerator Africa, the Black Founders Fund and the Google AI Fund, developed in collaboration with the National Centre for Artificial Intelligence and Robotics (NCAIR).
Folarin Aiyegbusi, head of startup ecosystem for Africa at Google, said the initiative would help founders connect with investors whose mandates align with their businesses.
“Great founders build faster when they can reach the right capital at the right time,” Aiyegbusi said.
He added that Google was supporting the structured approach to investor matching to improve the chances of introductions translating into investment.
The UK-Nigeria Tech Hub supported the programme as part of its efforts to strengthen investment connections between the United Kingdom and Nigeria.
Oyinkan Akintola-Bello, director of the UK-Nigeria Tech Hub, said Nigerian founders should consider the UK as an alternative market for raising capital.
“The UK is a very credible market with strong capital markets, and Nigerian founders need to know it is a real alternative for raising investment,” she said.
Victoria Fabunmi, national coordinator of ONDI, said the initiative gave founders the opportunity to engage with several investors in a setting designed to reduce the pressure associated with traditional pitching sessions.
She added that the format allowed entrepreneurs to present their businesses authentically while exploring potential investment opportunities.
Magna Collective said it would monitor follow-up engagements and capital commitments over the next six months before publishing its findings.
Femi Awoniyi, chief executive officer of Magna Collective, said the programme was designed to address the gap between available capital and startups seeking investment.
“Nigeria has the founders and the capital. What’s often missing is the right introduction. Our job is to close that gap,” Awoniyi said.
The programme was delivered in partnership with POV, SALG and Tech4Dev, with TechCabal serving as its media partner.
