Media reports confirm that the Lagos Angel Network (LAN), organisers of the quarterly Lagos StartUp Deal Day event, have announced recipients of the N50 million fund from the first edition of the event.
Big Cabal Media, owners of TechCabal, Zikoko, Radar, and EbolaFacts, were announced as one of the recipients, while Café Neo, a fast rising coffee chain in Lagos with 11 outlets across the city presently, came in as the second recipients.
According to an Innovation Village report, though the event held back on March 31, 2016, the names of the recipients, for some reason, were not announced till now.
Lagos StartUp Deal Day is a quarterly early stage investment event run by the Lagos Angel Network.
The event aims to bring together LAN members, other angel investors, and players within the Lagos startup ecosystem in a process where the best startups (across all sectors) are guaranteed funding.
LAN is hoping to invest as much as N100 million and foster an early stage investment community through 2016.
The second edition of the event will take place on June 30, 2016. Applications are open now.