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The Lagos Angel Network (LAN) has announced it is to hold the Lagos Startup DealDay pitching event at the end of March, with the network currently in the process of raising NGN100 million (US$502,000) to be invested at the event.

The quarterly event will take place on March 31, bringing together LAN members, angel investors, startups, and other ecosystem players at a pitch event showcasing the “very best ventures and startups”, which the network says will be guaranteed funding.

LAN said it is in the process of raising NGN100 million (US$502,000) to be invested on the day, through syndicates to invest a minimum of NGN5 million (US$25,000) each live at the event.

The network is currently encouraging the formation of syndicate groups to lead investments in the shortlisted startups at the event; with March 15 set as the deadline for new syndicates to apply.

Syndicate members are not required to be members of LAN. Confirmed syndicate groups include TechnoVision – led by Tomi Davies; and Sasware – led by Collins Onuegbu.

Startups can apply, and will have their information curated, via the VC4Africa platform; with initial pitch decks, video pitches and other information to be made available on the platform in the run up to the event.

A shortlist of startups chosen to pitch at DealDay will be announced on March 21.

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