Olumide Soyombo launches his economic memoir “Vantage”

by MMC
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One of Nigeria’s most prolific investors, Olumide Soyombo on Tuesday launched ‘Vantage’, a memoir of his early days, a foray into entrepreneurship and investment as well as key lessons from his professional journey.

In August, TechCabal reported that Olumide Soyombo, co-founder of Bluechip Technologies and founder of Voltron Capital, announced his business memoir, “Vantage,” and on Tuesday, the book was officially launched at an event in Lagos. The memoir, divided into three parts, traces Soyombo’s beginnings, his foray into entrepreneurship and investment, and the lessons of his experience as a veteran of the African tech ecosystem.

Soyombo’s book follows an unusual crop of Nigerian business leaders sharing the untold stories of their industry. In the book, Soyombo, one of Nigeria’s most prolific investors and early backers of some of the country’s most notable startups, including Paystack and PiggyVest, answers questions about his professional journey and his pioneering role in the evolution of Nigeria’s technology ecosystem. Herbert Wigwe, Group CEO of The Access Corporation, in the foreword to the book, described “Vantage” as “the most important book written so far on Nigeria’s burgeoning technology space.”

One of the key learnings from Soyombo’s professional journey is the role of mentoring in the success of businesses and their owners. In the book, he references a scathing email he received from his father – and early investor – on February 11, 2013, after he and his partner, Kazeem Tewogbade (Kaz) splurged on two cars Mercedes Benz E Class. Two years later, Olumide sent a similar letter to the co-founders of PushCV— the company that later transitioned to PiggyVest — is questioning his spending on the last $50,000 he invested in the company. “The idea is not to reap your rewards in the beginning, especially when you know that with your startup’s prospects, the rewards will come in droves,” Soyombo writes in the book.

At the book launch event, the Olumide Soyombo Foundation for Education and Entrepreneurship was launched to deliver one million copies of “Vantage” into the hands of one million young Africans. The aim of this knowledge sharing is to nurture the next generation of business leaders and technology entrepreneurs on the continent. Soyombo said: “I am very optimistic about the future of investments in Africa. I believe the best place to build is in Africa and Nigeria.

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Sendy, the end-to-end fulfillment platform, which shut down operations last month and is now looking for a buyer, reportedly spent up to $1 million a month at the peak of its operations, said to TechCabal a source close to the matter.  Despite raising $20 million in January 2020 in a funding round led by Atlantica Ventures, Sendy began looking for buyers in August as costs continued to climb.

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