In a bid to strengthen growth of Small and Medium Enterprises (SMEs), Investment One Vencap Ltd (VENCAP) has inaugurated an online application platform on Monday in Lagos.
The platform is tagged: “Venture Quest 10.0 for loans between N10 million and N100 million’’.
Dr Ore Sofekun, the Managing Director, Investment One Vencap said that the online application platform was for start-ups and existing businesses interested in securing Venture Capital funding.
Sofekun said that early start-ups and existing businesses interested in securing Venture Capital funding between N10 million and N100 million needed to submit applications.
She said that the 100 per cent online application window, which opened on Monday close at midnight on Sept. 10, 2018.
According to her, the application is open to Nigerian registered start-ups and existing businesses irrespective of their geographical location.
Sofekun said `the Quest’ was not a competition but a platform provided to enable start-ups and existing businesses with innovative and excellent business ideas access between N10 million and N100 million equity or quasi-equity funding.
“This special call for application is aimed at offering SMEs the opportunity to submit their business plans and receive accelerated assessment within two to three months period,’’ she said.
Sofekun said that the initiative coincided with activities lined up for the10th anniversary of the founding of Investment One Financial Services Ltd.
She said that start-ups and existing businesses in sectors such as agro processing, fintech/tech-enabled, healthcare, light manufacturing and logistics services, among others were eligible to apply.
Sofekun said that interested applicants to log on to http://www.investment-one.com/vencap/venturequest10-0/.
She noted that Vencap was founded in 2016 to provide financial and strategic business support to SMEs – a critical factor to achieving the nation’s non-oil Gross Domestic Product target.
Sofekun said that since inception, Vencap had advised more than 80 companies and had invested in four companies spread across building construction, agro processing, health and fitness and ICT sectors.
VENCAP is a subsidiary of Investment One Financial Services Limited Group (Investment One).
Investment One was established in 2008 as GTB Asset Management Ltd, a wholly owned Asset Management subsidiary of Guaranty Trust Bank Plc.
It was licensed by the Securities and Exchange Commission to provide wealth management, trust, securities brokerage and financial advisory services to individual and corporate clients.
