#59, Invest, learn, repeat: how to be an angel investor. Olumide Soyombo, BlueChip Technologies

Olumide Soyombo is the Co-Founder of BlueChip Technologies. BlueChip Technologies is a systems integrator specialized in Data Warehousing, Analytics and Business Intelligence Solutions.

Olumide is also the co-founder at Leadpath Nigeria, a seed capital fund that specializes in providing short, medium and long-term funding to small and medium-sized start-up businesses. They have invested in companies like Paystack, Fashpa, Piggybank among others.

He is a systems engineering graduate from the University of Lagos and holds a Masters in Business and Information Technology from Aston University.

In this episode you’ll learn:

  • What got him interested in angel investing?
  • The usefulness of having mentor networks
  • How did BlueChip Technologies come about?
  • What were the first businesses they invested in?
  • Which is more important when building a product? Scalability or Profitability?
  • The evolution of the Nigerian startup ecosystem
  • How did they raise $1million without actually looking to raise money?
  • Olumide is focused on tech consumer based products. Find out why
  • What was the flaw with their initial accelerator model?
  • The selection criteria for the accelerator
  • Olumide has written a lot of cheques. Some succeeded and others did not. Which businesses survived and why?
  • What is the risk of focusing on profitability at the expense of growth?
  • How they became profitable within a very short time
  • How big data helps businesses
  • How the invention of ai and machine learning is shaping their business model
  • Learn about Blueprime a new product they developed and are pushing out to the market
  • The biggest challenge he thinks founders face in Nigeria in being able to sell
  • Why repeatedly backed the Piggybank founders
  • And more

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Episode 59