When Steve Adleman talks about Nigeria’s startup ecosystem, there’s a light in his eyes — the kind that belongs to someone who has seen raw potential before it becomes global success.
The California-born managing director of Nexus Partners has spent decades guiding early-stage ventures in Silicon Valley. But lately, his heart — and calendar — are firmly set on Nigeria.
“This is my third trip to Nigeria this year,” he says with a smile on the sidelines of the #StartupSouthX conference in Port Harcourt. “I came for the conference and for the Imo State governor’s book launch. But really, I’m here because I believe in what Nigerian founders are building.”
From the Valley to the Niger Delta
#StartupSouthX, an annual event that draws entrepreneurs and ecosystem builders from across southern Nigeria, is one of several stops on Adleman’s growing Nigerian itinerary. His presence isn’t ceremonial — he’s here to listen, connect, and help shape the country’s next generation of investors.
For Adleman, investing has never been just about capital. “It depends on how you define investing,” he says. “I’ve invested in a Nigerian-founded startup — my friend Ope’s company — but what excites me most is helping Nigerians build strong angel networks.”
He describes angel investors as the early believers — the ones who put faith in founders before the market does. “Angels invest in the person, not the product,” he says. “It’s like faith. You believe before the proof.”
Local Wealth, Local Growth
Adleman believes the next phase of Nigeria’s startup evolution won’t come from waiting on foreign venture funds, but from unlocking domestic wealth.
“Nigerians need to invest in Nigerian startups,” he says firmly. “There are so many high-net-worth individuals who’ve built fortunes in other industries. We need to show them that backing tech founders isn’t charity — it’s nation-building.”
Across Africa, startups face a funding gap at the earliest stages. Adleman sees angel networks as the bridge. “Every ecosystem needs early believers,” he says. “That’s how Silicon Valley started — people who succeeded turned around to help others do the same. Nigeria can replicate that culture.”
Beyond Lagos: Building Regional Innovation
Although Lagos dominates Nigeria’s startup headlines, Adleman is more interested in the rise of tech hubs outside the commercial capital. “What’s happening in Port Harcourt, Owerri, and across the South-South is impressive,” he says. “You’re proving that innovation doesn’t belong to one city. Nigeria doesn’t need one Silicon Valley; it needs many.”
He’s particularly fond of Owerri, where he’s worked closely with local founders. “Owerri has the beginnings of a real startup community,” he notes. “Port Harcourt might be a step ahead, but what’s remarkable is how these cities support each other.”
Building Founders, Not Just Startups
Adleman’s current focus is Imo Digital City Limited, a private-led initiative originally launched with government backing. The project aims to train and nurture early-stage entrepreneurs through a structured year-long programme starting this November.
“We’re starting with 100 top applicants from across Nigeria — and even beyond,” he says. “They’ll go through a three-day boot camp on storytelling, customer engagement, and startup fundamentals. Then we’ll narrow down to 40 for deeper work on finding real opportunities.”
The final phase focuses 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 people, because when you build great founders, great startups follow.”
While the programme doesn’t promise funding, he says it prepares participants to attract it. “We’re not handing out cheques,” he clarifies, “but we’re helping founders become investment-ready.”
Education, Infrastructure, and the Bigger Picture
Beyond funding, Adleman insists that Nigeria’s startup ecosystem must rest on strong foundations — education, infrastructure, and policy.
“Every university is required to have an entrepreneurship department, but we can do more to make that education meaningful,” he says. Nexus Partners is now working with Nigerian universities and local partners to improve entrepreneurship training.
He also lists reliable internet, better roads, power, and safety as essential ingredients. “Those are not just national issues — they’re startup issues too,” he adds.
The Long Game
Adleman’s vision extends well beyond Imo State. In the past month alone, his team has hosted sessions with founders from Lagos, Abuja, and the northern regions. “We had over 70 northern founders join virtually last week,” he says. “This is a national effort.”
For him, the endgame is clear: a Nigeria where founders, investors, and mentors collaborate across regions to create a truly distributed innovation economy.
“If we keep building communities like #StartupSouthX, launching programmes like Imo Digital City, and connecting founders across the country,” he says, “we’ll have more startup cities — not just one. That’s how you build the future.”
