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The Diligent Observer Podcast
Episode 57: "Old Money To New Money" | Lagos Angel Network Executive Director Dr. Solomon King on Mobilizing Legacy Nigerian Wealth into Venture, Building Angel Culture from Scratch, and Correcting African Founders' Biggest Misconceptions
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Today's episode explores three ideas that caught my attention:
- “Old money” sitting on the sidelines – Solomon aims to convert Nigeria's legacy industrialists into venture investors. It made me wonder how much capital is waiting to be “activated” into the venture space, particularly in emerging capital markets.
- Community norms shape investment behavior – Solomon noted Africa's communal culture affects how accountability around angel capital is understood. Great reminder that investment frameworks can't necessarily be copy-pasted across cultures.
- A six-hour boat ride for a magazine – Solomon's early hustle to access business knowledge from remote Nigeria puts founder "resourcefulness" on a whole new level.
I explore these ideas and more with Dr. Solomon King, Executive Director of the Lagos Angel Network. Dr. King brings over 18 years of experience spanning behavioral finance, alternative investments, and fundraising – a combination that uniquely positions him to bridge the gap between capital and the founders who need it most. As Executive Director of the Lagos Angel Network, he has led the organization's growth from a small community of 12 to over 120 active angel investors, while pioneering structured education programs that are reshaping how Africa's next generation of investors learns to deploy capital. With a background across banking, consulting, academia, and impact finance, Solomon offers a ground-level yet globally-informed perspective on what it truly takes to build an early-stage investment ecosystem from the ground up.
During our conversation, Dr. King Shares:
- Why Africa's communal culture requires a fundamentally different accountability conversation with founders around angel capital, and how LAN has adapted Western angel frameworks to reflect that reality.
- His thesis that climate tech in Africa is poised to follow a similar trajectory FinTech did a decade ago – driven by infrastructure buildout, democratizing access, and investor attention finally catching up to the opportunity.
- How Lagos Angel Network grew from 12 to 120 members in two years by positioning angel investing as a portfolio strategy accessible to anyone with disposable investable income – not just institutional players.
Connect with Dr. Solomon King
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Dr. Solomon King: [00:00:00] So when I say I go to town to buy those magazines, it was really a journey. I probably would do a six hour boat ride to and six hour back.
Truly Africa is the next frontier, and more and more people are becoming interested in the conversation.
You don't have the camels and monkey and all that funny representation of Africa anymore. you're now beginning to see and hear people talk about Africa in terms of investment companies, people, culture, money, you know, leadership.
A lot of the monies in the venture space now in Nigeria are from outside. They're from outside of Nigeria. I'm excited about, um, trying to get old money in Nigeria to become new money in Nigeria.
Andrew Kazlow: Welcome to the Diligent Observer, where we help angel investors see what most miss. I'm your host, [00:01:00] Andrew, and every week we explore what works, what doesn't, and why through conversations with experienced startup investors and operators.
My guest today is Dr. Solomon King, executive director of the Lagos Angel Network, and a two decade veteran in Nigerian business financing solutions. In this episode, Dr. King walks through how the network has grown from 12 to 120 members in the last couple years, why he's so focused on mobilizing local capital to match the flood of outside money pouring into the continent.
Why he sees climate tech as the next big opportunity in Nigeria, and what founders across the continent consistently get wrong when approaching angel investors. I hope you enjoy learning from Dr. King as much as I did.
Dr. King, thank you for being with me today.
Dr. Solomon King: Thank you for having me. Such a pleasure to be here today. Thanks.
Andrew Kazlow: So I have to start with my classic first question, and that is what are you excited about right now?
Dr. Solomon King: I like what's going on globally [00:02:00] with a lot more people being aware and focused on growth markets, emerging markets, and particularly the interests. The above average interest in Africa as an investment destination. There's, there's a lot of, um, conversations going on globally around how truly Africa is the next frontier, and more and more people are becoming interested in the conversation.
And you know how a a lot more people are now conscious of Africa and more information about Africa is now out there. You don't have the camels and monkey and all that funny representation of Africa anymore. You're now be, you're now beginning to see and hear people talk about Africa in [00:03:00] terms of investment companies, people, culture, money, you know, leadership. So Africa is becoming forefront in in different conversations, and that's really exciting because again, it dovetails into the Investment space and I like it. I like it a lot.
Andrew Kazlow: So Solomon, you have been an educator and an investor for years in this space. Tell me, when did you start to feel this transition? Like when did this start to happen in your experience, 'cause you're excited about it now. When did you start getting excited about this feeling that something is changing in terms of the global perception?
Dr. Solomon King: I think that. Um, say somewhat about 2015, 2016. Just a couple of years before the, the COVID-19 global lockdown [00:04:00] and all, just, just a, a few years before that and I, I think it got fever pitch at about, um, just after the lockdown, people began to look at things a whole lot differently. And, um, yeah, so, um, I'd say just about a decade ago.
Andrew Kazlow: And, and how would you describe the, the change, like what exactly feels different, you know, today versus a decade ago in terms of this global perception.
Dr. Solomon King: Okay, so, um. First a decade ago I was 35. Oh, well, um, well not 35 yet, but you know, I was thirties now I'm, I'm, I'm 43. You know, so, um, I think I see things a lot more differently now from a more broader worldview than, um, earlier years. That's on the [00:05:00] personal ground. But, you know, um, then looking at it generally the conversations around africa and the growth thereof. Only got this heightened because more and more young people are forcing these conversations. Suddenly the demography of Africa is now an issue. People are now talking about how big, you know, Africa is as a market. When you consider that there is
Um, 'cause that was going on in Asia, in China particularly when, 'cause that was going on in, in India, you pretty much wanna say, okay, Africa now has a demographic market outlook. You know, and considering that then makes it imperative for people to begin to look closely. [00:06:00] Plus money is always looking for ways to make more money globally, you know? And um, so when you think that, okay, Africa wasn't in the picture before, but you now see and know and hear that the median age of the average African is 18 years old. That means that um, you have younger people who are eligible to work, eligible to create value, eligible to create, um, monies, you know, for different kinds of investment for another 20, 30 or 40 decades to come. Because whoever is 18 years old now, it is just coming into the workforce and he's got energy and and brilliance and, and innovation for another 40 years at the very least. It's, it's, it's a market to look at pretty much. So, it's, it's, it's what you would [00:07:00] expect for any really rational thinking um, investor. Africa is good, is good business right now.
Andrew Kazlow: That's fascinating to hear. And I'm curious, as you have been an educator, you know, during this season and, you know, transitioned recently into more of this investment, uh, activity, how all of this has impacted Nigeria specifically and then maybe dovetail for me how you got into this angel investing world and how all this applies, you know, in our little startup world, which is pretty different from the rest of the finance stack.
Dr. Solomon King: I agree. I totally agree. Um, maybe because I've always been around the space. It doesn't feel new. I would, I'd explain. So I come from a background where I was trained to be an accountant. I take a few degrees in accounting [00:08:00] and whilst taking those degrees, I got very interested in more non accounting courses than the core accounting courses. Courses around business strategy, growth markets, branding. Those got my attention more than the crunching of the numbers. And so even though I was a good student crunching numbers, I was more fascinated and more passionate about the makings and the workings of good businesses locally and globally. So as a second year student in the university, I would study about economies of the world and economies of African states.
I could tell about the inflation crisis in Zimbabwe. I could tell a lot of things around the African um, [00:09:00] economies, and I use that a lot in all of my examples in school. And my teachers would be like, yo, where'd you get this. from? Can I get a source material? And, um, I'd have to go bring out the magazine. Whether it's the African business report or it was Forbes and this back in the day were very expensive magazines to, to own, you know, but I would save of my, um, feeding money, my allowances. And go into town to get those magazines. I stacks of them. And then I, after I'm done studying school books, I begin to read those magazines, voraciously.
Now those studies, and, and deliberate readings helped prepare my mind for,
a, a, a work in consulting and, you know, um, just the global outlook of doing business, even though I was stuck in far away deeper sides of Africa. So, lots of people know [00:10:00] Lagos as the very popular city. There's, there's other parts of Nigeria that you, you know, are not as popular.
Some of them are really remote. And my university was in one of such places. So when I say I go to town to buy those magazines, it was really a journey. I probably would do a six hour boat ride to and six hour back.
I do that once every week just because I wanted to get materials, uh, once every month.
Yeah. 'cause I wanted to get material enough to be able to study. So I started my own
consulting practice for small businesses by my third year in the university. Now how that even happened was more interesting. One of our lecturers back in the day was a Nigerian who lived in the US. Worked in, I think he worked, he also worked in consulting in the US and then he would come back to Nigeria every other, [00:11:00] month to teach his classes, you know? And he inspired me so much. I said I wanted to leave this kind of life. I wanted to leave, I wanted to be, I wanted to have my family and my work somewhere else. I wanted to be a visiting lecturer somewhere else, you know, and do that across countries.
And because he was a practitioner, it was easy for him to really help us see that we're not just studying stuff. This is happening, this is life. And he'll give you examples upon examples of businesses that he had either had interest in as an investor or the ones that he was consulting for as a consultant. And so his business strategy classes were really um, interesting classes for me. And because, of course I had began to study about businesses globally, it was easy for me to connect with, with, with a gentleman. And, um, I had an A in that course, I remember first semester and the second semester, [00:12:00] but that launched me into my own consulting practice.
So by my, by my third year, I began, I'd created a brochure, registered a small business, a small consulting business, and began to provide, um, brand and strategy services for small businesses back then. So you see that introduction already got me into the small business play and I began to already engage business owners. I was 21. Yeah, maybe 21, 22. So I was pretty young. You could tell that I was ruddy, you could tell that. Um, I wasn't your, um, very experienced consultant. I was very knowledgeable. That's that's something that you couldn't take away from me. You could take that, I was fresh, but I knew what I was talking about deeply.
Andrew Kazlow: Well, and it, and it sounds like you had some hustle too. I mean, nobody, you know, takes a [00:13:00] six hour boat, boat ride to pick up some magazines, uh, and doesn't walk away with a sense of hustle. That's incredible.
Dr. Solomon King: Yeah. So, so I, I, I always had it going. I always had that. You've got to put in the work. So that got me already into the whole startup space. Graduated from the university. Um, then I took a job in banking. So in banking, I was thrust into the retail end of banking and so be I I, I worked as a credit officer providing loans and services and advisory services really for small business owners yet again. And so I come to understand the
psychology of the average small business owner and even the dynamics of their finances, you know, the margins, the profitability and so I, I could tell then I, the more I studied around this and, and grew in my understanding of how finance work, [00:14:00] I realized that small businesses, small medium, and uh, and and, and small, medium, and maybe large businesses, uh. One side of
the spectrum, and then there's the other side of the spectrum where you have the hyper growth startups that the VC guys are, uh, usually interested in. Took a study down that road, and then the, the understanding and the knowledge and, and the learnings around angel investing then came to bear. I worked in banking for a bit. Say about five years
Then I left.
I came back to my consulting, my private consulting practice, but this time I was providing, I was providing consulting services for the banks because of course I just left the banks and I could see gaps. And I began to provide, um, consulting services.
Interventions [00:15:00] around strategy and innovation. Strategy and innovation and you know, that got me into now the innovations play and understanding how businesses both big and
small, innovate. So I had sessions on creativity, I had sessions on innovation, and I did that for quite a number of Nigerian banks. Both at regional levels and at national levels. And, um, so once I kept that consulting of my appetite as an angel investor and my knowledge of the field also grew over the years, I, I remember talking with big banks to say, Hey, how's Facebook going to affect, um, banking in Nigeria? What's the connection between? Yeah. So how back then this, this, this were very early days.
Andrew Kazlow: Right. This is, I mean, as, as you're talking, this is just such a perfect sort of background story [00:16:00] for being an active angel in Nigeria, which is so well known as sort of the, a FinTech hub. And, you know, Lagos just has so many well known fintechs, like the, the background you have leading up to the story is just, I, I'm excited. Keep, keep going. Tell me more.
Dr. Solomon King: Great. So I, I began to ask questions around, is there gonna be a day where a person does not need to come into the banking hall to open an account before they open an account? Is this something that's going to disrupt traditional banking? I began to ask them those questions several years ago. So when, when, when the FinTech play came, it was just clear that, hey, Solomon's been talking about this a while ago. Again, because I was talking about it as an independent consultant, not one of the big five. It didn't um, hit much. I got my audience, but not enough people were listening to me and it didn't matter to me. I just, knew that I [00:17:00] saw it coming.
You know, because immediately you begin to consult and provide, um, direction and guidance and advisory around innovation and creativity.
You usually would be able to fit things together, you know? So, um, if you ask me, for example. Like the question you ask me, oh, Solomon, what are you excited about on the personal ground? I'm excited about, um, trying to get old money in Nigeria to become new money in Nigeria. What I mean by that is Nigeria had always had industrialists where factories, we had lots of companies that were into trading.
There was text manufacturing, there was food and beverages manufacturing. So there was a, there was a set of guys who run the market back in the day. They're not playing in the venture space now. Because a lot of the monies in the venture space now [00:18:00] in Nigeria are from outside. They're from outside of Nigeria. And so, um, I'm a bit, what I would say so much, but a bit interested in trying to get more, um, Africans, especially Africans who are of means to look at busines especially in the venture world now. So the hyper growth, the quick to scale kind of businesses are the ones that I'm, you know, interested in. And so this is the way my mind works pretty much. And so back in the day, I was already saying, this is what's going to happen. More and more people are gonna get interested in growing businesses in Africa. Of course FinTech then came building on the infrastructure that banking already laid. So banking and technology mixed together was easy to get FinTech and every other thing now. So, um, I'm thinking strongly [00:19:00] about about getting other industries to catch up as the rails and the infrastructure. It's being discussed. I think that climate tech, for example, is the next big frontier. For example, in the African space, because FinTech, uh, investors are kind of jaded, not like investments are not going in there
But you see, um, right now in Nigeria, I could make a bank transfer of funds. And pressing that I'm sending the money to expects to receive it in three minutes or less. It didn't always used to be like that and not like that globally. It's just something that we have innovated on so much. Now, there is a lot of conversation back in the day.
This is the same way conversation around banking was. You know, [00:20:00] there's now a lot of conversation around democratizing energy, democratizing power. As we speak right now, I wouldn't have a situation where I'm out of power in my house. It wouldn't happen because that's sorted and it's, it's, it's happening for a lot of African homes.
So the more conversations are going in these spaces, the more it is likely that investment go in these spaces and you know, growth then suddenly explodes in your face. So it is the way, it is, the way you ask, oh, have the FinTech become what it is? People started talking about it, people started drawing the connections.
People started seeing what was available. You know, and so it's the same thing that I think will happen with, um, CleanTech particularly. Then maybe HealthTech will jump in the way. But these are the, these are my ruminations really around going on in Africa.
Andrew Kazlow: I love it. So, so walk me [00:21:00] through how you specifically got connected to the Lagos Angel Network, maybe a bit of the story there. And what's happening in, in the group right now. Are these sort of categories, these themes, things that you know, you all are focusing on. Walk, walk me through how you got plugged in and into the seat that you're in today.
Dr. Solomon King: Great, um, first I must say that I'm grateful for the opportunity to lead the network, cause it's something I always wanted to do. And so lots of people can tell that, Hey, you are enjoying what you're doing. And I'm like, yeah, 'cause it's something I always wanted to do. It's, um, it's one of my life's work, you know, to be able to get more people to be interested in angel investing. And so as I learned about angel investing and investing generally. And as I studied, um, the business space in Africa, I realized that, um, [00:22:00] there was a, there was a capital mismatch, capital mismatch in the sense that people who had capital were not finding the deals and the deals were not finding the capital. And it was a question also of the lack of knowledge that angels didn't even know so much about angel investing. Talk more of being angel, then the startups and small businesses who could have got angel investing. Um, didn't know where the angel investors were. Didn't even know that was a thing. Didn't think that it was possible. Didn't understand that, uh, investor class, you know? So most businesses and business owners and founders and entrepreneurs always think, um, the banks are not lending money to us, so, uh, business is not, is not worth doing. [00:23:00] So, um, or they get really ridiculous interest rates from the banks and some people go on, some people struggle, some people lose these businesses, um, because of the inability to pay pretty much.
So, um, I then began to focus on providing this knowledge. I had studied the work of Lagos Angel Network extensively. I studied angel investing generally, but that of the Lagos Angel Investing network extensively. Um, then as fortune will have it, there was an advertisement. Yeah, there was, there was a, there was a role open for the, in the network and I'm like, yeah, why not go for it. And So I literally, you know, I, I, I left the job as a lecturer to take up the Lagos [00:24:00] Angel Network role. So I, up upon, um, when I left banking, I went back into consulting.
I did my consulting practice and lectured in the university,um,
So once I did that, my consulting practice metamorphosed into, um, me organizing investors in what is described as a credit union. So we had created a credit union to provide credit really for businesses. And so I'd done that until the Lagos Angel Network opportunity came. There was, there was an advert open, there was a role open for community coordinator, and then I took it. And, um, because again, I did not want to spread myself too thin, and I also didn't want unnecessary dramas. I, um, after 13 years of being a [00:25:00] lecturer, I resigned, well, no, I had a voluntary retirement, so I'm , I'm, I'm a retiree right now. I'm a,
I'm a young retiree, so yeah, so I had a voluntary retirement. And then I joined the Lagos Angel Network fully. And what we've done with the network is to bring a lot of people into the angel investing bracket. So, um, we're consistently talking to people about the, um, the practice, the, the, the act. And the act and the science of angel investing, making people understand that startup and angel investing could be a part of your portfolio, you know, and some of your disposable income, some of your investing funds could go there.
That, I mean, investing could be part of your investing strategy. So we've, we've grown the network from network from 12 members to [00:26:00] 120 today yeah, we're 120 members today. And, um, uh, yeah, in the space of two years.
Andrew Kazlow: That's incredible. And, and what have you found the most interesting or most appetite in, in terms of deal activity and like. You know, as, as you've been sort of evangelizing this concept of, hey, you can deploy your capital to support these, you know, high growth startups. This is different from traditional small business.
Thinking about the impact that these could have, obviously that message is resonating, thus the growth that you're seeing. What, what have you seen in terms of the group's focus on the deal activity? Has that matched these um, categories around climate tech and, and health tech that you talk about, or what, like where have you seen the most interest from these members in the recent year or two?
Dr. Solomon King: So what I've noticed is the fact that more people just wanna learn. More people just wanna see what's going on. More people are here, out of curiosity, [00:27:00] um, more than anything. Um, but that said, as a network, we are sector agnostic. So, um, what that now says is, if the deal is good, we do it. If the deal isn't good enough, we probably will pass on it. And, um, and we've had a few good deals that we think will, um, given the growth that we see will turn out really well in, in a bit. so before I joined the network. And then now do have the opportunity to lead the group. The group has been here for about a decade or more, you know, 2015 originally registered and got certification in 2015 as as a network, as a nonprofit.
Okay. Um, but activities around angel investing started about 2010, 2011, you know, and so in that period. Um, LAN has done [00:28:00] over, oh, say over 30 deals that, uh, that can be pointed to that can be accounted for. There's several other deals that individual members have done that, um, you know, may not have been recorded as part of the group investment, you know, but investments where you have.
Andrew Kazlow: It's how angel groups go, man, there's so many side deals, and you're trying to keep track of it, but that is essense of what is.
Dr. Solomon King: And in that period. We've, we, we've had some really good companies, you know, um, and I, you have some that have fallen by the wayside under my leadership, we've, um, had had seven investments, you know, and, um, we're adding, we're adding deals every other month. You know, one or two every other month.
So, so yeah, the, the, the, the, the network is growing both in terms of numbers and the number of deals done. Um, [00:29:00] if the deal is good, it doesn't matter the, industry, um, were more about impact. How many jobs would this create? How many families would this feed? How many, um. lives will be better as a result of this business coming to life, you know?
Andrew Kazlow: Solomon, I love the, the focus on educating and activating new capital because we've had so many guests on this show. I just see this theme over and over again that how much of the population doesn't realize that they could be investing in these high growth startups, how to do that well, and then ultimately building the confidence to write the check.
Like so many of the, the great, you know, angel group leaders that I've had on this show talk about the impact of their educational programming, the structures that they put in place to help new members understand how to do this well, and to do this in community. Like all of those things are just so important.
What, what have you found to be some of the most [00:30:00] helpful educational activities for, for new angels joining your community in recent years? Like what seems to click the most with your members?
Dr. Solomon King: So we do have what we describe as the Angel Fellowship. It's a cohort-based educational program that helps us induct new members. Now it's a, it's a program that then teaches the angels, the basics of angel investing from deal sourcing to um, to negotiations, to, to structuring, to being an effective member of the Lagos Angel Network to, um, understanding the different kinds of instruments that there are in there to assessing.
Um you know, how to assess founders, how to assess deals and developing your [00:31:00] angel thesis as as an investor. So, um, the program is pretty much a six weeks comprehensive,
lesson on, you know, the whole angel investing spectrum. And, and we found that to be very enlightening for our, for our members. As a network, we also have borrowed a leaf from the work that is being done by the New York Angel Network. Um, yeah, when I, when I took over reigns of, of office, I went down to
Seraf, the Seraf um, document that they have everything that was ever written there that is made available in public. Every article ever written on, on the Seraf, um, um, on the Seraf website I studied, you know and then put a, a, an African face to it and, you know, [00:32:00] try to, um, match the African reality with what those documents were, were saying. And then we've now begun to create our own version of those guidebooks, you know, so we do have a guidebook on a number of areas around angel investing describing our process. So we put out a guidebook, bimonthly, once every two months.
We, we have a guidebook, um, dealing with different aspects. So the more recent one is more building your angel brand, and, um, yeah, the, there's the one that is being worked on as we speak is on exit engineering, where as an angel group and as angel investors, you want to ensure that we're creating exits, not just, uh, talking about it, but ensuring that from the start of the deal, we're considering the exit from, from, from the end. And [00:33:00] so, so these guidebooks have, have helped one other.
Andrew Kazlow: So, so in those, what, just before you move on in those guidebooks, I'm curious, what, what did you change? Like what is the most different? You know, obviously the New York Angels and Seraf and. What are some of the core differences and things that you have adapt?
Dr. Solomon King: The, the materials from Seraf were guide, were not, um, were not used to create this. They were the inspiration. So you study them, you see what the thinking is like from a more established angel group and say, okay, in our group, what challenges do we have in our group, what, what do people need to understand in angel investing in Nigeria across Africa?
I'm in a meeting with the guys in Sudan. There's an angel group there forming up, and I'm providing. I'm facilitating a few of the induction process and [00:34:00] so we're, we're helping more and more africans to understand the nuances of angel investing in Africa because sure, a lot of the things there are different. Um, we have cultural differences. We we're more communal than, um, some other societies and this brings to bear how we deal with money and businesses in, in, in Africa. It also helps us understand that um, the average African, for example, needs to now be taught that, um, seed capital or capital that comes from, from the angel, angel capital is not free money because if it is family, friends, and fans, I don't like the word fools. You know, if it is family, friends, and fans, then there is a silent lack of accountability there. And so we usually like to now have to say, Hey, [00:35:00] for us as, as, as a network, we're almost institutional. So there's got to be the need for accountability.
So the conversations vary based on the nuances of the market.
Andrew Kazlow: That's fantastic. That's fascinating. I would love to, I would love to hear the full list sometime. Solomon, any other thoughts or insights you'd leave our audience with as we, as we wrap?
Dr. Solomon King: I hear that I did me a book that somebody who's out there in the UK, He, he, he made a comment recently on, on, um, on LinkedIn saying, this is the book that he wished that he read when he was fundraising last year. It's called Ideas, Cheques & Capital and in Ideas, Cheques & Capital. I try to help people understand, actually founders on understand how capital works, you know, so once I spoke earlier I explained that there was a disconnect between the [00:36:00] knowledge that was available to founders about angel capital and capital and the core capital stack. And then angels also needed to learn a lot about angel investing as, um, a strategy. So, um, so on the one hand, because there were more founders seeking capital than angels seeking deals, it was, it was good to quickly do something on that. So yeah, I, so I did Ideas, Cheques & Capital and the market has been kind, you know, it's been well received and I've gotten feedback from, um, very important quarters in, in the, in the whole ecosystem about how, um, pivotal that book has been. So I speak about the psychology of um, the investors who the founders will be approaching, I describe what most, um, [00:37:00] African founders don't get right in terms of how they're, how they're wired and, and what they think wrongly. So, for example, there is the expectation that, hey, I started me a business. So I should get funding that sense of expectation, false sense of expectation is there. And so I help people to dissuade their minds from that to say, Hey, if you must get capital, you must earn it. It's not something that you you are entitled to. So there's the part where I say, Hey, nobody owes you nothing. Not, not, not even capital. I explained that capital is not scars. There's a lot of capital out there looking for good businesses to, um, to fund and I describe capital not only in the sense of businesses, you know, I run in nonprofit. The Lagos Angel Network is a nonprofit, so I help nonprofit leaders also see how they can [00:38:00] attract necessary support, partnerships, and funding. Recently, the Lagos Angel Network was, um, admitted into the investor network of Microsoft. Now that happened because we put ourselves in a certain position that makes people, um, see us the way I want to be seen. And so in the material I also, describe what nonprofits can do, you know, to do you know Position themselves properly for the right capital or funding or support, like, like be, so, um, it's, it's a book really on ideas. It's a book really on, on capital, on how you can, you can get checks. I spend, um, a good part of the book talking about the different, um, kinds of capital that is available.
I touch on revenue based financing and how that works in. In, um, in, in Nigeria and in and in Africa by extension. Uh, the idea for [00:39:00] me was that anyone who was not in Lagos and was not in the big cities, you know, people who were in the secondary cities can also have access to the knowledge because it seemed to me like knowledge was knowledge, events and opportunities were concentrated in certain cities and certain other cities were feeling left out. So there's a place called Kano in northern Nigeria. That's where the first person, whoever bought the book, bought it from and I liked it.
And we've had people, out of Utopia, you know, get access to the material. So yeah, This is, this is this is what I was thinking about when I, wrote the book. I wanted to democratize that knowledge as best as possible.
So, yeah, um, Ideas, Cheques & Capital is one thing that I think that, um, I'm excited about also, you know, I'm hoping that more and more people get access to it.
Andrew Kazlow: Fantastic. Well, we'll, we'll, we will definitely include a link in the show notes, a look in master class, [00:40:00] and you know, how, how capital works in your ecosystem, which will be a huge blessing to, to many I'm sure.
Dr. King, thank you so much for joining me today for sharing insights on the Lagos and broader, uh, ecosystem.
It's been such a blessing and I look forward very much to our next conversation.
Dr. Solomon King: Thank you so much for having me, I'm hoping that I provided necessary perspective. Um, this has been enjoyable. I didn't think I was gonna enjoy it this much, but hey, thanks. Thank you.
Andrew Kazlow: Glad to hear it. Thanks Dr. King.
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