Mission Statement
At LoftyInc our mission is simply to contribute to the enhancement of lives by creatively investing in ideas and entrepreneurs, while positively changing the broader society.
Our goal is to emerge as a leading firm, investor and employer in West Africa.
Our strategy focuses on facilitating companies and projects intrinsically built to last. LoftyInc backs firms which are not just built to earn profits but are also built to add value to the society.
Differentiators
We believe the traditional venture capital model has no place in the frontier markets where we specialize.
Learn what we do, and how we do it...
Do you possess the personal drive and skills to deliver? Email us at solution_loftyincltd.biz
Profile LoftyInc.pdf
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Blog
Our principal partners discuss investment in Africa persuasively on Hipvestors. Join them to engage in enlightening discussions and peep into windows of opportunities
Visit our blog ( Hipvestors ) here
Beginnings
LoftyInc Allied Partners Ltd. was born infused with the unique dream of principal partners, Michael Oluwagbemi and Oluwole Odetayo, that society can be transformed with out of the box thinking. They set out to build an outfit that embodied their dream. This was realized with the formal registration of the firm as a business development company with the CAC in February 2009.
LoftyInc specializes in start-up business and project incubation in West Africa. We've seeded three companies so far, one in Ghana and two in Nigeria and support two active projects. We recognize the need to alter the traditional investment model to serve this emerging market.
LoftyInc Way
Led by the indefatigable Oluwole Odetayo (Managing Partner), the seasoned management of LAPL is focused on delivering on the promises of innovation and excellence. Michael Oluwagbemi provides Global Strategic Oversight for the firm's operations as Executive Partner and operates out of LoftyInc's Houston office.
The LoftyInc way imbues the virtues of excellence in innovation. Innovation at LoftyInc is reflected in the ideas we back, the innovators we attract and the social impact of these ventures. We are specialists in enabling bottom of the pyramid solutions- be it technology, business process or application innovation.
Activities
We are roughly a little beyond our second year of operation. Our focus primarily as you can imagine is the high impact (based on invested capital to job creation ratio) entrepreneur.
We value both technological and business process innovations as invaluable differentiators of ideas we support.
At the moment, we are assisting three start-ups: two in Nigeria and one in Ghana. We also have a number of start-up clients we are assisting with raising capital and advising projects for foreign firms making entry into the thriving frontier market of West Africa.
Project Incubation
With competencies in project management consulting, execution and delivery - we offer our client the cradle to commissioning support they desire even before project funding is in place. In the USA, engineering and project management capabilties are supplied by Shorebase Group LLC our engineering services subsidiary.
Our offering include planning, fund raising and project management/execution as well as general advisory. Our sectors of focus are Healthcare, Energy & Infrastructure . We also conduct Frontier Market Research through Wazobia Investments LLC
Through our proprietary project management methods developed using international standards, we are committed to helping clients deliver project on time, within budget and safely.
In synergy with our business incubation activities, we help clients (mostly overseas based) transition projects into ongoing operations by entering JVs and managing these special purpose vehicles on their behalf. As part of the FTSE Frontier Market group and Goldman Sachs Next-11 , Nigeria's economy has its challenges but presents a unique opportunity
Business Incubation
We work with individuals to develop the great ideas that will transform Africa and the frontier markets. We also help these innovators bring their ideas faster to market.
LoftyInc implements a unique business incubation model. First, we don't just seek new ideas, we generate them. We also help potential partnership teams develop these ideas (synthesized under our tutelage). When these ideas are launched in the market, we create employee owned companies.
We source and structure capital for start-ups and strategic projects being undertaken in the region. Start-ups that attract our interest are of the high impact variant which mirrors our innovation incubation work.
Our investors are from both domestic and overseas angel networks and funds, who invest in not just the LoftyInc promise, but the ideas and hope for a better world: with less misery and more opportunities. Wennovation Hub is our platform for incubation. Visit www.wennovationhub.com
What we do...in a nutshell
Often times, we are asked what we do at LoftyInc. Indeed, in the frontier economy where we operate, we are a pioneer in executing this business model. This is our two paragraph pitch...or rather, epistle.
Venture capital (also known as VC or Venture) is a type of private equity capital typically provided for early-stage, high-potential, growth companies or simply ideas in the interest of generating a return through an eventual exit. ( How to Fund a Start-Up )
By definition, VCs also take a role in managing entrepreneurial companies at an early stage, thus adding skills as well as capital (thereby differentiating VC from buy out private equity which typically invest in companies with proven revenue), and thereby potentially realizing much higher rates of returns.
Venture Capital Incubators in addition to funding also offer space and support services to their portfolio companies. In addition these, we do Project Incubation with Advisory and Management components.
Board of Advisors
Advising our management team is a capable board of advisors, with global experience, local exposure and seasoned connections.
Okezie Ofoegbu: Wharton Business School Alumni & until recently the Vice President, Emerging Capital Partners - a US Based 1.8 Billion dollar Private Equity Firm investing in over 40 (forty) African Countries, including Nigeria. Okezie is based in the US and joins the board with strong background in finance and business development. Okezie is the Principal of Libera Partners, USA
WHAT WE DO...
At LoftyInc we recognize that we must do things a little differently than the competition. Built to provide services mostly organized on the continent on non-profit models of NGOs or think-tanks, we imbue our profit motive with the ethical under pinnings of a new era firm, and the discipline of the market.
Our critical mission as a firm is to do more with less. This includes creating jobs and solutions that count. Our values are those of excellence the hallmark of which are found in:
As firm believers in the ethos of Quality, Integrity and Performance, we challenge our partners and clients to aspire for ethical solutions to challenging problems. In the end, we recognize it is the human energy that will make the difference.
Marsha Wulff: Founder of Wulff Capital & Afroceuticals Inc, a venture capital organization with numerous projects in Uganda, South Africa & Kenya. A former VP of Investments at Dean Witter (now Morgan Stanley) & manager private equity investment portfolio in medtech. Marsha brings considerable experience in social entrepreneurship to the board
Chinedu Okpareke: Ex- MD at Avaizon Consulting, and current DG of Imo State Investments & Promotion Agency, Chinedu joined Ocean & Oil Holdings in 2006 after his MBA at Wharton. Chinedu brings his versatile corporate relationships and board room experience to play as a board member.
Partners & Associates
LoftyInc is organized as a partnership, with key leader-partners assigned to key projects or work teams.
Assisting our partners with key technical inputs are our Senior Associates/Deal Advisors. Located around the world, these men and women have amassed years of experience in start-up advising and operations, and provide value added advice to our management team.
The lifeblood of our corporate make-up are our associates. Often managing specific portfolios or assignments, and reporting to an assigned Partner.
Michael Oluwagbemi
Co-founder & Executive Partner at LoftyInc Allied Partners Limited, Michael was born in Ibadan, Nigeria and spent most of his early years in Africas most populous country. A Summa Cum Laude graduate of Electrical Engineering at Prairie View A&M University, Michael also earned a Masters Degree in Electrical Engineering from the University of Houston. Michael has worked extensively in the energy industry, and is a serial entrepreneur having founded or aided the founding of more than half a dozen companies in West Africa. He sits on the board of Vertext Media Limited, Nigeria and Oceanbase Engineering Limited, Ghana. Michael is a Certified Project Management Professional, and Member of the Project Management Institute, Institute of Electrical and Electronics Engineer and Texas Society of Professional Engineers.
Wole Odetayo
Co-founder & Managing Partner at LoftyInc Allied Partners Limited, Wole was born in Ibadan, Nigeria and was raised in Ibadan and partly in Port Harcourt, the oil-rich state of the Niger Delta, Nigeria. Wole is a Bachelors of Medicine Graduate & Physician-in-Training at Igbinnedion University, Edo State. Wole has dedicated most of his life to providing lasting solutions, as an entrepreneur, to diverse economic and environmental problems taking the lead on projects mostly within Nigeria. Wole has co-founded two reputable firms including LoftyInc Allied Partners Limited and sits on the board of three including IdeasUnlimited a neo-era marketing firm. Due to his vast knowledge in the business terrain of the country, Wole, on a regular basis, voluntarily offers his experience in mentoring other upcoming entrepreneurs across Nigeria and is currently a guest lecturer at Faith Community Business School, Nigeria.
Idris Bello
Idris is a Senior Associate at LoftyInc and is spearheading the Wennovation Hub Project. He is a first class degree graduate of Computer Science at Obafemi Awolowo University (OAU), Ile-Ife and received his M.Sc. from the University of Houston and an Executive MBA from Rice University. Idris has extensive experience in multinational corporations including Chevron and Proctor & Gamble. He is also a prolific entrepreneur and sits on the board of various initiatives including Mumineen Foundation Inc, Next Cool Idea & Libraries across Africa. He is a co-founder of Afiya Inc & sits on the Executive Management Team.
Dami Agboola
Partner at LoftyInc Allied Partners Limited, Dami was born in Africas largest metropolitan area and soon to be third largest city in the world- Lagos, Nigeria. A Business Management & Supply Chain Management Graduate of the University of Houston, a member of the Project Management Institute (PMI) and the Institute of Management Consultants (IMC), a member of the Collegiate Entrepreneurship Organization (CEO) chapter of the University of Houston and a registered member of the minority business association of Houston.
Dami is a serial entrepreneur having founded or aided the founding of more than half a dozen companies in Houston, Texas and West Africa.
Media , Entertainment & Technology
The vibrant media sector is ripe for the picking. We seek to leverage new ideas and technology in the sector, while creating new markets.
From ideas related to mobile-web applications, to unique business models and applications for the television, Internet and entertainment industries at large; LoftyInc has begun to debut ideas emerging from its internal innovation complex.
Consumer Products
The consumer product sector is always rich in opportunities and will continue to grow as millions in Africa are introduced to the middle class. Needs exist for business process innovation to take advantage of the changing lifestyles of the emerging middle class in West Africa.
Marketing, branding and packaging are those areas our innovators will be exploring to make the difference in this sector.
INNOVATION INCUBATION INITIATIVE (I-3)
LoftyInc in partnership with our partners established the premier business incubator in Lagos, Nigeria under the I-3 Program in 2010.
The incubator, Wennovation Hub, will go online in 2011. Our unique incubation model calls for multi-sector focus, while drawing on the unique talents of our entrepreneurs in collaborative partnership.
The LoftyInc incubation process emphasizes acquiring practical business skills, as well as overall exposure that increases the chances of individual success while encouraging collaboration.
Secondly, we are focused on sectors and industries with the greatest potential for innovation and long term returns. The four sectors that we have identified is broad enough to egender innovation, and we have key partner-advisors experienced in these areas and able to shepherd our innovators towards market capable solutions
Visit us today at www.wennovationhub.com
Life Sciences & Wellbeing
A nascent area of focus for our organization is life sciences. We are actively soliciting proposals from business people seeking to innovate in the health care delivery, health insurance, provider or emerging pharma sectors in Nigeria.
Also agro-allied or eco-related industries offer opportunities for innovation. Potential for alternative medicine is also great in this space.
Energy & Environmental Systems
We seek opportunities in the traditional and clean energy sectors alike. Clean technology in the particularly power scarce Nigeria is particularly lucrative with non-existent regulatory framework and urgent need/gaps waiting to be filled.
Also, we are studying proposals to back renewable energy proposals sold via unique market winning strategies in urban areas like Lagos to boost power supply and reduce pollution.
Project Portfolio
Our project teams focus on:
LoftyInc's capable teams have delivered and/or are supporting the following projects:
Through an wholly owned USA subsidiary, Wazobia Investments LLC , LoftyInc provides Frontier Market Research Services, Facilitation and JV Operations to international clients. We focus on Technology, Healthcare & Energy Sectors.
West Africa Pharma ceutical Distribution Project (WA-PDP)
LoftyInc is supporting US based start-up building uniform brands of generics contract manufactured and quality controlled in Africa. LoftyInc is specifically building a $0.25m distribution network to be delivered in 18 months. Key components of the network will involve technology deployment, anti-counterfeiting measures, credit for inventory management and uniform registration system for branded products for clients with NAFDAC.
VisionInvent-PrimeCo Hall Projects (VIPs)
We are proud supporters of the work of one of Nigeria's most innovative companies started in the Diaspora.
Providing project advisory and execution services to her subsidiary, PrimeCo Hall in Nigeria- LoftyInc engages potential clients in the security, technology and OEM space in Nigeria on behalf of VisionInvent to generate sales and deliver projects in Nigeria.
Lagos Ferry Concession Project (LFCP)
LoftyInc provided early project support and planning including business planning, financial modeling and specific strategic advice to the client - MSA Advisory services seeking to build a network of light ferry water transport in Lagos.
Project is estimated to cost $80m. Services provided include in-country management and facilitation of project team in Nigeria.
Contact Us
Our Address
Lagos Office
Plot 397B, George Crescent
Agbalajobi Estate, Off Wempco Road
Ogba-Ikeja, Lagos
Nigeria
Tel.: +234-805-951-7814
+234-803-752-6683
Houston Office
2927 Valiant Scene Ct
Houston, Texas 77038
E-mail: solutions_loftyincltd.biz
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