…Stridevest would be meeting point for entrepreneurs, investors – CEO

By Ike Uchechukwu CALABAR 

A Nigerian investment firm, Stridevest Limited, has announced plans to bridge funding gap for entrepreneurs to help them grow their businesses, create jobs, and drive innovation.

The firm further announced its mission to support the Small and Medium Enterprises (SMEs) through mentorship and networking opportunities in exchange for equity stakes. 

Speaking at a Roundtable mentorship event in Calabar on Monday, Mr Wilson Obidi, founder of Stridevest Limited, said that the company was established to bridge the gap between business ideas and their successful execution.

Citing research by Pricewaterhouse Coopers (PwC), Obidi noted that 40 percent of Nigeria’s 41 million SMEs struggle with funding, hindering growth and scalability.  

“We are not giving grants or loans; we are investing in viable businesses and becoming co-owners to ensure their success. 

“We are in a country where you can have a bright idea, and getting the funds to push that idea is a problem.

“Or, you have even started the idea, but you cannot scale because you do not have the funds, you do not have the connections, and you do not have someone that has gone before you that can lift your hand and show you the right path. 

“So, part of our core responsibility as a company is to look for those sort of companies that are viable enough, provide the funds for them, and connect them to the right mentors.

“We also create a synergy in such a way that company A needs the service of company B, they don’t need to look too far,” Obidi explained.

Obidi said that the company’s target was  for SMEs requiring between ₦50,000 and ₦3 million or even more  in capital, particularly those in informal sectors such as roadside trading, agriculture, and tech amongst others.

He further explained that Stridevest will also assist these SMEs with business registration, financial management, and scaling strategies.  

According to him, “Applicants must undergo a rigorous vetting process, including detailed business assessments. 

“While there is no fixed equity percentage, negotiations will determine stakes based on investment size and business potential.  

“Registration will be conducted online, with field agents assisting less tech-savvy applicants.

“Stridevest also plans immediate empowerment grants for select small businesses as part of its launch initiatives.

“Stridevest’s team comprises professionals across finance, law, engineering, and tech to ensure informed investment decisions. The company collaborates with industry experts to evaluate proposals thoroughly.  

“We are committed to long-term partnerships, not quick fixes, Our goal is to reduce unemployment by empowering SMEs that create jobs and sustain economic growth.” 

Also speaking, the Chief Legal Officer at Stridevest, Christal Tawo esq. , noted that the firm will work hand-in-hand with entrepreneurs, offering assistance in areas such as business registration, educational resources, mentorship, and growth monitoring.

According him, Stridevest’s equity stake in any business will depend on the level of its involvement and the terms agreed upon with the business owner.

“Stridevest’s model enables us to genuinely partner with entrepreneurs, supporting them beyond capital injection by helping build structures that guarantee lomg term success,” he said.