Silicon Valley Firm Set to Invest in Nigerian Tech Companies

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500Startups, a Silicon Valley venture-capital firm worth over $175 million has announced that it is seeking to invest in two Nigerian technology companies.

Andrea Barrica, a partner at the firm told Bloomberg that they are interested in Nigeria’s big population and increasing access to technology and payments.

She explained that the firm is looking to add Nigerian assets to 10 investments on the continent in markets including Egypt, Ghana, Kenya and South Africa.

500Startups is the latest venture-capital firm to show interest in Nigeria. Last week, Boulder, Colorado-based TechStars announced that it’s seeking opportunities in the Nigerian information and communication technology industries.

Barrica has already met with business owners in Lagos because the firm is targeting companies engaged in “technologies, software, online marketplaces and e-commerce.”

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