Speaking with Steve Adleman on the sidelines of the recently concluded #StartupSouthX event in Port Harcourt, there’s an unmistakable sparkle in his tone, the kind that comes from someone who has spent years helping young founders find their footing.
His presence in the event, an annual gathering that has become a magnet for entrepreneurs and ecosystem builders across southern Nigeria, wasn’t just ceremonial. He was there to deepen relationships, exchange ideas, and explore ways to strengthen Nigeria’s startup ecosystem beyond the country’s commercial capital, Lagos.
The California-born investor and managing director of Nexus Partners has spent much of his career guiding startups in Silicon Valley. But these days, his gaze is firmly set on Nigeria’s fast-growing startup ecosystem.
“This is my third trip to Nigeria this year,” he says, smiling. “I came mainly for this conference and also for the launch of the Imo State governor’s book. But beyond that, I’m here because I believe in what Nigerian founders are building.”
Adleman’s approach to investment is refreshingly human. “It depends on how you define investing,” he says. “I’ve invested in a Nigerian-founded startup, my friend Ope’s company. But what I’m really passionate about now is helping Nigerians build strong angel networks.”
For him, early-stage investment isn’t just about putting money into promising ventures; it’s about believing in people. “Angels are those who invest before there’s really a business. They’re investing in the founder, not in the company,” he explains. “It’s like faith. You believe in the person, even before their product takes shape.”
Adleman argues that Nigeria’s future lies not in waiting for foreign venture capital but in mobilising local wealth to fund the next generation of entrepreneurs.
“Nigerians need to invest in Nigerian startups,” he says firmly. “There are so many high-net-worth individuals here who made their money in other sectors. We need to show them that investing in tech founders is not charity; it’s investing in the country’s future.”
The need for angel networks
Across Africa, the lack of early-stage funding has long been a challenge for startups. Adleman believes angel networks can bridge that gap.
“Every startup ecosystem needs founders, but it also needs people who help those founders really early, before they’re ready for institutional money,” he says.
He points to Silicon Valley as a model of what can happen when a culture of mentorship and angel investing takes root.
“The reason Silicon Valley thrives isn’t just because of venture capital,” he notes. “It’s because people who’ve succeeded turn around to help the next generation. Nigeria can do the same.”
Though Adleman admits he hasn’t spent enough time in Port Harcourt to give a sweeping opinion of the South-South ecosystem, he’s impressed by what he’s seen. “If this conference is any indicator of how strong the community is, it’s a great foundation,” he says.
He’s more familiar with Owerri, where he has spent considerable time working with founders. “Owerri has the beginnings of a real startup community,” he says. “Port Harcourt may be a bit ahead, but what’s inspiring is how these communities help each other.”
That collaborative spirit is what he believes will power Nigeria’s broader tech future. “What you’re doing here, taking attention away from Lagos and showing that innovation can thrive everywhere, that’s exactly the right move,” he tells me. “Nigeria doesn’t just need one Silicon Valley; it needs many.”
Adleman calls for strengthening entrepreneurship education
Adleman is also keenly aware that money alone won’t solve the ecosystem’s challenges. He emphasises the importance of education and infrastructure.
“Every university in Nigeria is required to have an entrepreneurship department,” he says. “But we can do more to improve the level of entrepreneurial education.”
His organisation is in talks with universities and local partners to upgrade entrepreneurship training across the country.
“Doing what StartupSouth is doing, building regional communities, is critical,” he adds. “But we also need to see national efforts, like federal startup competitions and stronger support for student founders.”
Beyond education, Adleman lists infrastructure, reliable internet, power supply, and regulatory reform as key enablers.
“A lot of what Nigeria needs to improve in general, better roads, safer communities, more stable power, all of that directly helps startups too,” he says.
Perhaps Adleman’s most ambitious effort in Nigeria right now is his work with Imo Digital City Limited, a private initiative originally founded with government support but now independently run.
“My colleagues and I are launching a year-long programme at Imo Digital City,” he explains. “We’ll be working with founders to help them become better entrepreneurs.”
Applications are open for the first cohort, which kicks off in November. “We’ll start with the top 100 applicants from across Nigeria and even beyond,” he says.
“The first stage is a three-day boot camp focused on storytelling, customer engagement, and startup fundamentals. Then we’ll narrow down to 40 founders for a deeper five-day session focused on identifying real opportunities.”
The final phase will involve even more intensive training on go-to-market strategy and global exposure. “The best founders will get a chance to continue their journey in Silicon Valley,” Adleman reveals. “But the real goal is to build founders, because when you build great founders, you end up with great startups.”
While the programme doesn’t guarantee funding, Adleman says it will prepare participants to attract investors. “We won’t be handing out cheques,” he clarifies, “but I can promise you’ll leave better positioned for funding than when you came in.”
Adleman’s vision extends well beyond Imo State. His team is engaging founders across the country, from Lagos to Abuja to the northern regions. “We had a big event last week with over 70 founders from the North joining virtually,” he says. “Before that, we held in-person events in Lagos and Abuja. This isn’t just a Southeast project. It’s a national effort.”
As Nigeria’s tech ecosystem matures, Adleman hopes to see more local champions emerge – investors, mentors, and founders – working together to build a truly distributed innovation economy.
“If we keep doing things like this conference, these programmes, and these collaborations,” he says, “we’ll have more startup cities across the country. That’s how you build the future.”
