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Nigeria: CcHub announces first three investments made via new syndicate

CcHub, based in Lagos Nigeria, has announced the first round of investments made by the syndicate it launched late year.

Lagos-based CcHub launched CcHub Syndicate last December. The Syndicate is an investment vehicle empowering investment firms and high net worth individuals (HNWIs) all over the world to co-invest alongside the hub in the most innovative companies across Sub-Saharan Africa.

Already running the Growth Capital Fund, CcHub has been on the expansion trail across Africa recently, acquiring iHub - a Kenyan incubator, eLimu - an ed-tech startup, and launching “The Syndicate by CcHub”.

The aim of the new investment vehicle is to accelerate the growth of early-stage ventures delivering value-adding services and products to the African market at scale.

CcHub claims to have across the African continent, a network of over 650 startups that can trace their roots to its various programs and interventions, and the launch of the syndicate aims to scale that impact.

Over 400 investors signed up to the syndicate, and over 30 completed the KYC process to take part in rounds. The syndicate has now announced its first investments, in three technology companies. These companies are focused on building critical digital infrastructure to be deployed across Africa and have valuations north of US$17.5 million.

The three investees are:

  • Oneport 365, a B2B digital freight forwarding platform;
  • Stears Business, a digital information company that makes it possible for anyone to access high-quality information on Africa;
Stears Business, one of CcHub Syndicate's first three investees
  • Taeillo, a premium Afro-urban furniture and lifestyle design brand.

With the completion of this first round, CcHub also announced it was opening the next syndicate funding round at the end of March.

Nigeria in focus:

Population: 200.9 million (2019)

GDP: $448.12 billion (2019)

GDP Per Capita: $2,229 (2019)