How Magna Collective’s Investor Connection Drive matched 26 Nigerian startups with 16 investors

Magna Collective’s Investor Connection Drive brought founders and investors together in Lagos on 27 October, matching 16 venture investors with 26 Nigerian startups for 61 pre-arranged, one-to-one meetings. The Drive was sponsored by Google for Startups, the UK-Nigeria Tech Hub, of the UK Government’s Foreign, Commonwealth and Development Office (FCDO), and the Office for Nigerian Digital Innovation (ONDI).

It took place as funding into Nigerian startups recovers but remains concentrated at the top. According to Africa: The Big Deal, Nigerian startups raised US$635 million in the first nine months of 2026, more than double the same period in 2025 and more than any other African country.

However, only 77 startups raised US$100,000 or more, and a single deal, Moove’s US$250 million, made up almost 40% of the total. For most early-stage founders, the challenge is reaching investors whose mandates fit their business.

Magna Collective is an innovation intelligence firm working across Africa, using data from more than 24,000 Nigerian companies and its own AI tools to connect founders, investors and partners where there is a real fit.

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Kelvin Umechukwu, co-founder and CEO of commerce platform Bumpa, met four growth-stage investors in one afternoon, each of whom had pre-approved the match. “The fact that investors have already seen our documents and decided they want to talk to us makes the experience a lot different, more impactful, and direct,” he said.

Magna arranged every meeting in advance, matching each investor’s stage, cheque size and sector focus with startups that fit, and ran them in a speed-dating format built for short, focused conversations. Investors reviewed their matches beforehand and agreed to each one, so no meeting was cold.

“We don’t waste their time. They don’t waste our time. It’s quite efficient, and I think we met some incredible companies that’ll fit nicely into our pipeline,” said Lexi Novitske, General Partner at Norrsken22.

The startups work in fintech, health, AI, logistics, energy, agriculture and education, and more than two-thirds have women in leadership roles. Eleven are alumni of Google programmes, including Google for Startups Accelerator Africa, the Black Founders Fund and the Google AI Fund in collaboration with NCAIR.

“Great founders build faster when they can reach the right capital at the right time,” said Folarin Aiyegbusi, Head of Startup Ecosystem for Africa, Google. “We’re proud to support the Connection Drive’s structured approach to matching Nigerian founders with investors whose mandates fit their businesses, so more introductions turn into investment.”

The UK-Nigeria Tech Hub supported the Drive as part of its work to strengthen investment links between the two countries. “The UK is a very credible market with strong capital markets, and Nigerian founders need to know it is a real alternative for raising investment,” said Oyinkan Akintola-Bello, Director, UK-Nigeria Tech Hub.

ONDI, part of the National Information Technology Development Agency (NITDA), also backed the programme. “The programme gives founders the opportunity to speak to multiple investors at the same time, while allowing them to be their authentic selves without the pressure they typically experience when pitching their ideas,” said Victoria Fabunmi, National Coordinator, Office for Nigerian Digital Innovation (ONDI).

Magna will track follow-ups and capital commitments over the next six months and publish what it learns. “Nigeria has the founders and the capital. What’s often missing is the right introduction. Our job is to close that gap,” said Femi Awoniyi, CEO of Magna Collective.

The programme was delivered with POV, SALG and Tech4Dev as delivery partners, and TechCabal as media partner.