Venture Capital Firm 500 Startups Seeks First Nigeria Tech Deals

Andrea Barrica, Venture Partner, 500 Startups

500Startups, a Silicon Valley venture-capital firm with more than $175 million under management, is seeking its first investments in Nigerian technology companies as Africa’s most-populous nation encourages industries that will reduce its reliance on oil.

The firm “would like to invest in at least one to two Nigerian tech companies in the next year,’’ Andrea Barrica, venture partner at Mountain View, California-based 500Startups, said Wednesday in an e-mailed response to questions. Nigeria’s “big population and increasing access to technology and payments’’ make it an attractive market, she said.

Read more: Venture Capital Firm 500Startups Seeks First Nigeria Tech Deals – Bloomberg Business