The document describes the Lagos Angel Network (LAN) and its DealDay process for funding early stage startups in Lagos, Nigeria. LAN brings together angel investors through quarterly DealDay events to evaluate startup pitches and fund the most promising ventures. The 4 month DealDay cycle involves startup applications, screening, workshops, pitches to investor syndicates, due diligence, and funding. The goal is to raise $500k annually from LAN members and other investors to support the Lagos startup ecosystem.

1. Lagos Angel Network (LAN)
Tomi Davies
LAN & ABAN

2. Content
• About TD
• LAN DealDay
• Participation
• Syndicates
• Process
• Closure

3. Harry ’Tomi Davies (TD)
• Corporate Technology Management &
Consulting Background
• Advisor, Board Member, Author, Public
Speaker, & Mentor
• Investor with portfolio of African StartUps
• Founder Lagos Angel Network, Lagos Nigeria
• President, African Business Angels Network
(ABAN)

4. The LAN DealDay
• Lagos StartUp DealDay is a quarterly investment process run
by the Lagos Angel Network (LAN). It brings together LAN
members, other angel investors and Lagos startup ecosystem
players in a process where the very best startup ventures
(across sectors) are guaranteed funding.
• This LAN initiative set out to raise N100 million ($500k) from
its members and the early stage investment community for
Lagos startups in 2016 using investor syndicates as an
approach.
• LAN partners for the DealDay include VC4A, the Africa
Business Angel Network (ABAN), TechCabal, Lagos based
hubs, incubators and accelerators.

5. Participation
• DealDay applicants are
entrepreneurs, start-ups and
early stage companies from the
incubators, accelerators,
entrepreneurial institutions and
corporate workers in and around
the Lagos Metropolis looking for
seed or start-up capital.
• DealDay Angel Investors are local,
national and international
professionals and entrepreneurs
who are adding DealDay
investments to their portfolio in
the high-risk category.
• Application Criteria
– N5M ($10k) -N50M ($100k)
funding requirement
– Post concept/prototype - Early
Stage with customers/revenue
– <3 years as registered business
– <2 years operations
– Full-time Executive Team
• Investment Terms
– Convertible Note
• Negotiated Pre-money Cap
• 10-15% Interest Rate
• 20-30% Discount Rate
• 36 Month Maturity

6. The DealDay Team
• Platform (VC4A) –
applications collection,
collation & analytics
• Candidates (Incubators,
Hubs & Accelerators) –
Application: Registration
Certificate, POEM Plan,
Pitch Deck
• Investors (LAN Syndicates)
– Accreditation & Profile,
Candidates Assessment,
Funding
• Investment (Syndicates &
Professionals) –
Commercial, Financial and
Legal Due Diligence
• Process (LAN Secretariat &
ABAN PMO) – DealDay
Applicants, Investors &
Event Management

7. LAN Syndicates
• Syndicate Leadership &
Registration requires LAN
Membership plus:
– Platform Pro Account
– DealDay Process & Fees
– Syndicate Charter & Member
Agreements
• Syndicate Registration -
N100k ($200)
• DealDay Fees - N50K
($100)/DD
• Syndicates are made up of
Accredited Individual
Business Angel (AIBA)
Investors who have:
– LAN Accreditation
– LinkedIn Profile
– Syndicate
(Individual/Corporate)
Member Agreement
• Registration - N50k ($100)
• Dealday Fees - N25k
($50)/DD

8. The DD Process
1. SetUP
2. Announcement
3. Candidate Applications
4. Screening & Shortlist of 10
5. Syndicates Assessment &
PitchDay List
6. POEM Workshop & Term
Sheets
7. DealDay Pitch Deals
8. Due Diligence
9. Agreement & Funding
10. Close
Preparation &
Announcement
•Press
Release
Applications &
Screening
•Shortlist
of 10
Assessment &
Workshop
•PitchDay
List
Pitch Day & Due
Diligence
•Signed
Term
Sheet
Agreement &
Funding
•Investme
nt
Close & Case
Study
•Lessons
Learnt

9. The 4 month cycle
DealDay Activities
VC4 Africa Platform Setup
Press Release (Announcement)
Synidicate Formation/ Accreditation
Application Submission
Screening Applications (First Level)
Syndicate Screening
Prep Pitch Workshop &Term sheet Delivery
DealDay Pitch Event
Syndicate Investment Funds deposited in Escrow
Due Diligence Report(Financial Legal& Commercial)
Final DealDay Round Investment Schedule
Note / Share Purchase Agreement
Progress Monitoring & Assessment process
DealDay Closing Press Release
Case Study & Lessons Learnt Report
Month 4Month 3Month 1 Month 2

10. Closing
• Due Diligence Completed
• Purchase Agreements Signed
• Investment Funds Disbursed
• Post-Investment Process Agreed
• Lessons Learned Documented
• Case Study Written
• Closing Press Release Issued

11. We’d love to hear from you!
Web: abanangels.org
Twitter: @ABANangels
Facebook: African Business Angel Network (ABAN)
Linkedin: African Business Angel Network (ABAN)
Mail: secretariat@abanangels.org