The Real Truth About Startup Funding In Nigeria
...and why many founders still struggle
Let’s talk about money.
No, not “money” in the vague, motivational Twitter thread sense.
But real capital, the kind it takes to turn startup dreams into actual products, teams, and traction. It’s one of the biggest hurdles founders face, but also the most misunderstood.
You hear phrases like:
"There’s more VC money in Africa now than ever before..."
Yet you probably also know five incredibly smart people who can’t raise a dime.
Why?
Because funding is not just about the idea, and this truth isn’t spoken well enough.
It’s about the people behind it - their expertise, their clarity of thought, their ability to navigate uncertainty.
That’s why I found this recent interview with Kosen Kenta, Program Director at Antler East Africa, so refreshing. Here’s what stood out:
The founder matters more than the idea.
At Antler, they invest from Day Zero. That means you don’t need a full-blown startup or even a team. If you’ve got domain expertise, critical thinking skills, and a track record of solving real problems, you’re already on their radar.
You just need to be someone with the capacity to build.
And that’s bold. But it’s also where the future is heading.
Because let’s be real, some of the most disruptive startups we’ll see over the next decade haven’t even been imagined yet but the people who’ll build them already exist.
But access is still a problem.
Even with these new models of investing, many founders across Nigeria and Africa still struggle to access capital.
That’s why, at Founders Connect, we’re doing our bit - however small.
With our Pitch2Win – Launchpad initiative, we’re offering early-stage founders grant funding, visibility and support. No equity taken. No endless pitch cycles. Just real backing to get your idea off the ground.
Because we know that sometimes, the only thing between a great idea and a great company… is someone willing to bet on it early.
Application is ongoing for the Lagos edition, you can click here to apply or share with someone who needs it.
Now, back to Antler - and something you might not know:
They’re now physically present in Nigeria.
And this changes the game.
Why?
Because one of the previous barriers was market fit.
Many founders from outside East Africa struggled to tailor their ideas to that specific market, which hurt their chances of being accepted into the program.
Now that Antler is here, Nigerian founders have a local edge. You get the opportunity to ideate and validate in a market you actually understand.
So, if you're building or thinking of building and want to know HOW to apply to Antler and WHY it might be the right fit, you need to watch this interview.
Your next move might just be one decision away.
P.S. If you’ve ever wondered how much traction is enough to raise money, or whether solo founders can succeed, or what investors are secretly looking for - this is your sign to stop guessing and start watching.