Maya Horgan Famodu has established herself as a trailblazer in Africa’s venture capital market, but her journey hasn’t been easy.
Horgan Famodu is the CEO of Ingressive Capital, a $10 million venture capital firm based in Lagos, Nigeria. It has invested in several promising start-ups in Sub-Saharan Africa, including Nigerian fintech Paystack, which was Ingressive’s first investment and was acquired by payments giant Stripe in October.
Despite having a natural talent for finding promising start-ups, Horgan Famodu discovered that breaking into Africa’s venture capital market required a lot of perseverance.
Horgan Famodu, a Nigerian-American who grew up in Minnesota, began his career in mortgage finance at JPMorgan Chase and later moved to New York to work in private equity research.
Horgan Famodu resigned from her job as a private equity analyst in New York to set up her fund in Nigeria. She didn’t get very far in obtaining supporters, though, at 23 years old and with only 18 months of experience in the sector.
Horgan Famodu founded Ingressive as an investment advisory firm to establish her name in the sector before launching Ingressive Capital in 2017. She is 25 years old. She is believed to be the youngest person in Sub-Saharan Africa to start a technology fund, as well as the first woman to do it alone in Nigeria.
The 31-year-old IT expert was recognized to Forbes Africa’s 30 Under 30 in the technology category in 2018, and she was recently named to Avance Media’s 100 Most Influential Young Africans for 2021 in appreciation of her accomplishments and unwavering commitment to Africa’s growth.