Nigeria's most active pre-seed fund - $100K for 7%, open to anyone
Microtraction is Nigeria's most active pre-seed fund, investing US$100,000 for 7% equity in early-stage African tech startups. Founded by Yele Bademosi and Dayo Koleowo. Portfolio includes Buycoins (acquired by Yellow Card), Mono, Cowrywise, and many other breakout Nigerian startups. The fastest check in the Nigerian ecosystem - decisions in weeks, not months.
Use when
You're a Nigerian or African founder raising your very first institutional check and want a local investor who has seen the ecosystem grow from the ground up.
Skip when
7% at a fixed US$100,000 is worse than what you could raise on a priced round, or you are past pre-seed. The percentage does not flex with your traction, so the better your position the more it costs you.
Status (24 Sep 2026): open to anyone, which makes it one of the few genuine front doors on this list. The deal is standardised at US$100,000 for 7% at pre-seed, raised from the original US$25,000 for the same 7%. Sector-agnostic but looking for technology businesses aimed at very large markets. Founded 2017 by Yele Bademosi and Kwamena Afful; 36 companies across two funds in Nigeria, Ghana, Kenya and Rwanda, which have raised more than US$100 million in follow-on.
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