Dubai-based Nigerian tech investor and entrepreneur, Mr. Danny Oyekan, has refuted widespread claims linking him to a failed borrower-lender relationship within the ongoing controversy surrounding Bridge Community, a blockchain startup at the moment going through inner crises.
Talking to journalists over the weekend, Oyekan clarified that he had no operational position within the troubled agency, noting that his involvement was strictly restricted to a capital funding made by way of his Africa-focused funding agency, Dan Ventures.
“In April 2022, Dan Ventures supplied funding funding to the startup,” he stated. “At no level did I enter right into a borrower-lender settlement, nor was I a part of day-to-day operations. All transactions have been professionally documented and dealt with inside authorized frameworks.”
He remarked that the misinformation circulating throughout social media platforms misrepresents the details and has diverted consideration from what he described because the core points — inner energy struggles amongst co-founders and mismanagement of the corporate’s funds.
Based on Oyekan, by January 2023, management disputes had begun to undermine the startup’s early promise. These tensions culminated within the ousting of the founding CEO, who had beforehand signed off on the funding agreements and had accredited partial reimbursement to Dan Ventures earlier than her removing.
“The CEO, who stays the one authorized shareholder of the corporate as of as we speak, had accredited a reimbursement that will have considerably lowered the legal responsibility owed to Dan Ventures, Sadly, the method was disrupted following her abrupt exit,” he stated.
He additional confirmed that his agency was pursuing the matter by way of authorized channels, having submitted all vital documentation to authorized counsel and applicable regulatory authorities. He assured that updates can be supplied as due course of unfolds.
Oyekan is the founding father of Blockfinex, a digital asset buying and selling platform, and Dan Ventures, which has made early-stage investments in Web3 and blockchain startups throughout Nigeria, Ghana, Kenya, and the United Arab Emirates.
Regardless of the challenges related to the Bridge Community funding, the tech entrepreneur stated he stays targeted on his long-term imaginative and prescient of driving innovation and monetary inclusion by way of blockchain applied sciences in Africa.
He stated, “These sorts of setbacks will not be uncommon inside world enterprise ecosystems simply because the precedence is to reply with integrity and keep targeted on constructing options that serve actual wants.”
He, nevertheless, asserted that Dan Ventures would proceed supporting African tech founders and blockchain builders, even within the face of controversy. He described latest occasions as unlucky makes an attempt to distract from substantive work happening within the continent’s rising digital economic system.
“Our duty as innovators is to maintain constructing Africa’s future in expertise requires long-term dedication, not short-term sensationalism,” he stated.
Oyekan reiterated his perception that Africa stays a crucial frontier for digital innovation and harassed the significance of credible funding and sustained mentorship for the subsequent technology of tech entrepreneurs.
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