#58, Investing in the African tech ecosystem. Lexi Novitske.

In 2012 Lexi Novitske moved to Nigeria from The United States.

Lexi worked for Verod Capital Management, a Nigeria-based private equity firm. Prior to joining Verod, she had spent her career developing an expertise in financial services through her time at New York-based Sandler O’Neill Asset Management.

In 2014, Lexi joined Singularity Investments as the Principal Investment Officer where she oversees the firm’s operations in Africa.

In this episode you’ll learn:

  • Why Lexi decided to move to Africa from the United States
  • The key unique qualities unique to the Nigerian tech market
  • What were the key assumptions Lexi had about the Nigerian market before coming here? How many of them have proved to be true?
  • How to deal with the barriers to infrastructure and regulation
  • The difficulty of the African market
  • “In this market, the management or entrepreneurs drive the success of the business”. What does Lexi mean by this?
  • What are the disadvantages of giving away too much equity as a founder?
  • How much power the Telcos wield in this ecosystem
  • Despite numerous challenges, why did Lexi choose to stay in the African market?
  • Why did she move from Private Equity to Venture Capital Investment.’
  • The crucial differences between Venture Capital Investment and Private Equity
  • What do investors look out for in early-stage deals?
  • How private equity works
  • What is Lexi’s personal thesis about the African ecosystem?
  • Find out the kind of entrepreneurs she wants to back
  • And more

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