PUNCH
A Nigerian-British investor and technology expert, Tomi Davies, shared an anecdote about his unexpected success in an early investment, reflecting on a time when he turned a $5,000 investment into a substantial return.
Speaking with Big Tech This Week and released on Monday via X, Davies said, “In 1999, a friend of mine encouraged me, and I invested $5,000 in a fantasy league soccer comic.
“We got the distribution up, and then we started to look at animation and video, which caught the eye of a South African company.”
The interest from the South African firm marked a turning point for the venture, as they sought to acquire a majority stake in the comic business.
He said, “They decided to buy into the company and needed part of my shares to make their 51% ownership.
“Then they wired the money, and for two days, I couldn’t sleep. Why? Because I didn’t want them to think Nigerians were fraudsters. I thought they made a mistake in the amount because it had an extra zero that I wasn’t expecting.”
Davies recounted his reaction to the unexpected sum.
“I called up my friend who had started the company and said, ‘Hey, Ollie, there seems to be a problem. I was expecting $25,000. They sent me $250,000. Please, there’s been a mistake.’”
To his surprise, the response he received was reassuring.
“He said, ‘Oh no, there hasn’t been any mistake. The valuation of the company means I just got three and a half million dollars. I’ve just bought myself a house,’” Davies added.
