Plesion Capital, a venture capital firm that provides pre-seed and seed investments in high-potential startups, announced a $250,000 equity investment in the capital of the Nigerian start-up Releaf. This agritech, which is involved in the provision of agricultural inputs as well as the development of palm nut extraction technology, will utilise this resource to fund its expansion.
Plesion Capital’s founder and managing partner, Ben Finlay, has announced his intention to assist Releaf in expanding its activities beyond the cultivation and processing of palm nuts. Plesion’s investment comes on the heels of Releaf’s $3.3 million pre-Series A fundraising last January, which was used to fund the introduction of two novel palm nut growing methods.
Plesion Capital, which presently focuses on investment possibilities in food-related industries and infrastructure development in Africa, made its first commitment in a savings and investment fintech in Uganda last January. The venture capital business intends to expand its purchases in other parts of the world.
Plesion Capital Releaf
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard