The Lagos Angel Network (LAN) is a "not for profit” entity set up for the purpose of organizing seed funders ("Business Angels”) to invest in start-up businesses. LAN is an association of committed members that provide early stage, seed funding and mentoring for start-up entrepreneurs. Business Angels expect to earn a healthy return on their investments while supporting the development of the Nigerian economy by strengthening start-ups and helping new small business owners grow.
LAN is the first members’ only network in Nigeria specifically created to finance early- stage and start-up businesses. The aim of the network is to drive job creation and foster collaboration amongst individuals and institutions interested in promoting or engaging in entrepreneurship, especially in the south west region of Nigeria.
LAN organises pitch events where pre-screened business ideas are presented to the network by entrepreneurs. The pitch events create a forum where its members are exposed to promising early-stage investment opportunities. The event creates a forum for a face-to-face discussion between entrepreneurs and the investors. It also provides an opportunity for entrepreneurs in the ecosystem to sharpen their essential skills while getting ready to present to the business angels. Investors in turn provide advice and feedback on business models and invest if interested in any of the business idea. They also provide coaching and mentoring for the entrepreneurs.