A Nigerian investment firm, Stridevest Ltd has announced its mission to support small and medium-sized enterprises (SMEs) by providing funding, mentorship, and business connections in exchange for equity stakes.
Speaking at a recent event, Wilson Obidi, CEO and founder of Stridevest Ltd, revealed that the company was established to bridge the gap between business ideas and their successful execution.
Citing research by PwC, Obidi noted that 40% of Nigeria’s 41 million SMEs struggle with funding, hindering growth and scalability.
Unlike traditional loans or grants, Stridevest invests directly in businesses, acquiring equity while offering mentorship and networking opportunities.
“We are not giving grants or loans; we are investing in viable businesses and becoming co-owners to ensure their success. We’re in a country where you can have a bright idea, and getting the funds to push that idea, it’s 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, connect them to the right mentors, and 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.
The company targets SMEs requiring between ₦50,000 and ₦3 million in capital, particularly those in informal sectors such as roadside trading, agriculture, and tech. Stripe Vest will also assist with business registration, financial management, and scaling strategies.
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. The firm 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,” Obidi stated. “Our goal is to reduce unemployment by empowering SMEs that create jobs and sustain economic growth.”
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