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.
Desired Skills and Experience
- Entrepreneur Identification: Identify and build strategic relationships with local and international institutions that can provide a credible flow of high quality entrepreneurs for screening.
- Technology Management: Co-ordinate the design, rollout and ongoing usage of a simple to use technology platform to support LAN activities. Identify and ensure LAN interface with other leading global technology interfaces for Angel Network Management.
- Event Planning and Execution: Plan and execute pitch sessions, networking events and information sessions. This will involve supervising proper documentation and recording of investor conversations with prospective investees during meetings as well as agreements reached. In addition, you will be required to develop ideas for new high profile events that give LAN the desired visibility locally and internationally
- Due Diligence: Support Angels in managing the critical mentoring and due diligence phases on prospective investments. You will ensure that there is clear communication between all parties and objectives of the process are achieved in a transparent manner. You will also be responsible for interfacing between angels and investors to ensure that appropriate term sheets are executed and investment transactions achieve financial closure
- Post Investment Monitoring: Develop and implement a technology enabled framework to ensure investee companies provide the required post investment information in a timely manner.
- Communication and Public Relations: Produce and distribute monthly electronic newsletter and periodic materials that will be of interest to Angels. Ensure strategic visibility of LAN in the media via interviews, features and news releases.
- Financial Management: Keep record of the organization’s income and expenses. Support the process of securing additional sponsors for the organization.
- Sector Analysis: Identify the most attractive emerging investment areas by undertaking research on identified sectors. Perform market analysis to identify what sectors are hot and scan the market for potential investees in these areas.
- Administrative: Perform general administrative responsibilities such as coordinating member communications, following-up after prospective recruits and supporting the angel recruitment and pipeline development process.
- The ideal candidate will be highly analytical; detail oriented and possesses a strong interest in technology and SME investing.
- A good understanding of finance and a strong interest in promoting entrepreneurship and innovation in Nigeria is also required.
- A minimum of 6-8 years of relevant experience is required.
Method of Application
To apply, visit The Lagos Angel Network Career Page
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