Singularity Investments, a Nigeria-based investment office specializing in high growth companies operating in Africa’s technology sector, has invested an undisclosed amount in Asoko Insight, a provider of corporate information on African growth markets.

Lexi Novitske, Principal Investment Officer at Singularity Investments, said: “We see a substantial need for private business intelligence in Africa. Singularity is delighted to support Asoko Insight’s strong team as they build a robust platform, providing global companies with the key data and research tools necessary to make informed business decisions throughout the African market.”

The new funding comes on top of a $1.35m fundraising round that was completed in November 2015.

Singularity Investments joins North Base Media, CRE Venture Capital, Emergo Partners and J.E. Berman Associates as Asoko’s financial backers.

Asoko Insight provides data and analysis on African companies to global corporates, investors, governments, and African players.

The firm was established in 2013 with a core mandate to improve the availability and quality of corporate data in Africa’s most promising economies.

The company is headquartered in London and operates through research bases in Accra, Lagos and Nairobi.

The funding from Singularity will be used to further build out Asoko’s data collection capacity on leading private companies in the Company’s top markets that include Nigeria, Kenya and Ghana.

Rob Withagen, Asoko’s Managing Director, said: “With Singularity we have found a strategic partner whose know-how, relationships, and understanding of Africa’s burgeoning data industry offers tremendous value to Asoko’s deepening presence in our focus markets.”

Singularity is a private investment office based in Lagos, Nigeria.

The firm is not restricted by fund sizes or specific investment criteria, allowing it to tailor its investment to the needs of its investee companies.

Singularity looks to invest in, and nurture, early-stage or transformational companies having scalable and defensible business models.

The firm targets enterprises operating in the African and North American technology space.

Singularity is led by Issam Darwish, CEO and founder of IHS Towers, Africa's independent telecoms infrastructure company with assets in excess of $4bn.