Best Venture Capital Lawyers in Igando

What a startup investment deal in Igando involves

For an Igando founder, venture financing usually means an investor provides capital in exchange for shares or another agreed investment right. The deal may involve a Lagos-based investor, but company registration and securities rules are federal and apply in Igando as elsewhere in Nigeria.

Investors commonly review the company’s CAC records, ownership, accounts, contracts, intellectual property and regulatory position before committing funds. The parties then document the investment, agree on governance and investor protections, obtain company approvals, and make any required filings.

A business operating only as a business name may need a company structure before issuing shares. There is no separate Igando venture-financing code, and the legal steps depend on the company, investment instrument and how the offer is made.

When a lawyer can protect your position

• You have a business name, not a limited company. A lawyer can assess whether incorporation and ownership changes are needed before an investor can receive shares.

• An investor has sent a term sheet. A lawyer can explain dilution, board rights, vetoes, liquidation preferences and other terms before you sign or accept funds.

• Several founders or relatives contributed money or assets. Clear ownership records and written agreements can help prevent disputes when a new investor conducts due diligence.

• Your Igando business handles customer or payment data. An investor may ask about data protection, cybersecurity and relevant sector rules, especially for digital services or payment-related products.

• You are raising from multiple people or advertising an investment opportunity. Legal advice can help assess whether securities regulation or restrictions on how the offer is marketed apply.

• The investor proposes convertible funding or staged payments. A lawyer can clarify when conversion occurs, what happens if milestones are missed, and which approvals and filings are required.

Nigerian laws that may apply to startup investment

Companies and Allied Matters Act 2020 (CAMA). CAMA governs company formation, shares, directors and corporate filings. It was signed in August 2020 and commenced on 7 August 2020; the company’s articles and applicable approvals matter when issuing or transferring shares.

Investments and Securities Act 2025. Signed into law in March 2025, this Act provides the current statutory framework for Nigeria’s capital market and securities regulation. Whether a particular fundraising offer engages Securities and Exchange Commission requirements depends on its structure and marketing.

Nigeria Startup Act 2022. Signed on 19 October 2022, the Act establishes a framework that includes a startup labelling process. Its startup-specific measures do not automatically apply to every new business; eligibility and labelling requirements should be checked before relying on them.

Frequently asked questions

Can an Igando business raise investment before registering a company?

A sole proprietor or registered business name cannot issue company shares in the same way as a limited company. The parties may consider another lawful funding arrangement, but should get advice before signing or accepting funds.

Does an investor have to be based in Igando?

No. Igando’s location does not limit where an investor can be based. The parties still need to check the company’s legal structure, the investment terms and any applicable regulatory requirements.

What documents should a founder prepare?

Gather CAC incorporation or business-name records, ownership details, accounts, bank information, key contracts, tax records and evidence of intellectual property ownership. Investors may request additional operational or regulatory documents during due diligence.

Should I get legal advice before signing a term sheet?

Yes, especially if the term sheet contains binding clauses or detailed rights on control, exclusivity or future fundraising. Ask a lawyer to identify which terms are binding and explain their financial and governance effects.

What is the difference between equity funding and a loan?

Equity funding generally gives an investor shares or other ownership rights, while a loan creates a repayment obligation. The actual rights depend on the documents, and convertible funding may combine features of both.

How much does a startup investment lawyer cost in Igando?

Fees vary with the work involved, transaction value, document complexity and whether the lawyer is reviewing or drafting the deal. Request a written quote that identifies the scope, out-of-pocket expenses and any additional fees for filings or negotiations.

How long does it take to complete an investment deal?

There is no fixed timeline. A straightforward transaction may take several weeks, while due diligence, negotiations, regulatory questions or incomplete company records can extend the process.

Can a foreign investor invest in a Nigerian startup?

Foreign investment may be possible, but the company should check applicable sector restrictions, foreign-investment requirements and any reporting or registration obligations. The investor’s nationality alone does not settle the requirements.

Does the Nigeria Startup Act cover every Igando startup?

No. The Act provides a framework for startups that meet its criteria and obtain the required label. A lawyer can help check eligibility and explain whether labelling is relevant to a proposed investment.

Do I need SEC approval for a private investment?

Not every private fundraising transaction requires the same regulatory steps. The answer depends on the instrument, investor group and how the offer is made, so obtain advice before advertising an opportunity or approaching numerous investors.

Can founders use a standard online investment agreement?

A template may omit Nigerian corporate requirements or terms that matter to the company’s specific ownership and business. Have a lawyer check it against the company’s CAC records, articles and proposed investment before signing.

Official resources

• Corporate Affairs Commission (CAC): Handles company and business-name registration and corporate filings. Its records can help confirm a company’s registered details and filing position.

• Securities and Exchange Commission Nigeria: Regulates Nigeria’s capital market and provides information relevant to securities offers and market participants. Consult it where a proposed fundraising method may raise securities questions.

• Lagos State Internal Revenue Service (LIRS): Administers relevant Lagos State tax matters. Founders can use its official guidance to check state tax obligations affecting their business.

Steps to find and hire a lawyer

1. Write down the deal basics. Within a day or two, summarise the amount sought, proposed investment type, investor identity, company structure and any deadline.

2. Gather core records. Over the next few days, collect CAC documents, ownership records, accounts, contracts, tax information and any term sheet or draft agreement.

3. Shortlist lawyers who handle company and investment transactions. Ask for relevant deal experience, who will do the work, and whether the lawyer can advise on SEC or sector-specific questions.

4. Request a written scope and fee proposal. Compare what each proposal covers, expected disbursements, response times and charges for negotiation, due diligence or filings.

5. Check the lawyer’s practising status and engagement terms. Before sharing sensitive records, confirm the engagement letter explains confidentiality, fees, responsibilities and how either side can end the engagement.

6. Have counsel review the documents before you commit. Allow time for due diligence, negotiation and corporate approvals; do not assume funds can be accepted before the required documents and filings are settled.