Global venture capital firm QED Investors recently announced the hiring of Gbenga Ajayi as a partner.
Ajayi will oversee the firm's fintech investments in Africa and is the first person hired to do so, according to Business Wire.
“We could not be happier to welcome Gbenga to our rapidly growing international team,” said QED Investors Managing Partner Nigel Morris in a Jan. 19 press release. “He has a deep operator pedigree, and he is incredibly connected to the early-stage entrepreneurial ecosystem across the continent. Gbenga has worked at a number of innovative tech companies, and I am thoroughly impressed with his passion for building great companies and his deeply held desire to support talented founders tackling the biggest ideas. He also sees how fintech can drive financial inclusion pan Africa."
Morris explained that focusing on Africa made sense after the company's recent success in India.
“Following the success QED saw when we moved into India 18 months ago, supporting disruptive founders in Africa was a natural next step," he said. "There has been a real explosion in venture activity throughout the region as the promise of fintech to democratize access to financial services while removing friction has become inescapable.”
Prior to his selection as a partner, Ajayi co-founded Kanza Ventures, a boutique seed investment and advisory firm focused on fintech in Africa, Business Wire reported. He also spent six years at Google in a variety of positions working with clients in Nigeria, Kenya and South Africa. He has a Bachelor of Science in economics from Obafemi Awolowo University in Nigeria and is currently working to complete an Executive Master of Business Administration at the London Business School.
“I’m incredibly excited to bring QED to Africa and to bring Africa to QED,” said Ajayi in the release. “QED has the unparalleled combination of a world-class track record in venture and an unmatched reputation in global fintech. There is a massive opportunity for transformational fintech companies to be built in Africa over the coming years, and QED is the perfect partner to support, advise and mentor the next wave of talented founders.”
The firm has invested in more than 160 companies and amassed $4.6 billion since 2007, Business Wire reported.