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Itanna
Itanna is Honeywell Group's Lagos-based corporate venture unit backing African fintech, enterprise software, and digital infrastructure startups since 2018.
Overview
Anna University expands higher education in Engineering, Technology, Architecture, and Applied Sciences to meet present and future societal needs
General information
Firm type
Corporate Venture Capital
Year founded
2018
Location
Region
Africa
Country
Nigeria
City
Lagos
Corporate office
Lagos, Nigeria
Principals
Ainojie Irune
Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Itanna?
Ainojie Irune serves as Chief Investment Officer and leads deal sourcing, diligence, and portfolio management for Itanna. Irune operates with the backing of Honeywell Group's executive leadership, integrating venture decisions with the conglomerate's broader strategic objectives.
How does Itanna source proprietary deal flow?
Itanna sources deals through Honeywell Group's extensive West African corporate network, its accelerator program that surfaces early-stage founders, and co-investor relationships with other Africa-focused venture funds. The firm also evaluates inbound applications through its website and startup events across Lagos.
Does Itanna participate in fund commitments or only direct deals?
Itanna invests almost exclusively through direct equity deals in early-stage companies. There is no public evidence that the firm makes fund-of-fund commitments as a limited partner in other venture capital funds.
What investment stages does Itanna typically target?
Itanna targets pre-seed through Series A stages, occasionally participating in follow-on rounds for portfolio companies. The firm writes initial checks typical of sub-Saharan African early-stage rounds and reserves capital for pro-rata follow-ons in later rounds.
How is Itanna related to Honeywell Group?
Itanna is a wholly-owned venture subsidiary of Honeywell Group, the Nigerian conglomerate with interests in foods, energy, real estate, and infrastructure. Honeywell Group founded Itanna in 2018 to invest balance-sheet capital in African technology startups, and the venture arm operates from Honeywell Group's Lagos headquarters.
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