Samuel Efosa-Austin is raising ₦100 billion to fund data companies

Samuel Efosa-Austin is raising ₦100 billion to fund data companies

I first met Samuel Efosa-Austin, the chief technology officer of a Lagos-based health insurance startup, at a class for venture capital enthusiasts. As we learnt about venture capital fundamentals, he wasted no time in telling the class about his one-year plan to raise ₦100 billion for his fund, the ECO fund, to back companies trying to solve Africa’s data infrastructure gap.  His approach to raising a fund in local currency and his focus on dat…