A New Kind Of GP Stake Deal: Billionaire-Backed Nile Capital Takes Minority Stake In VC Firm Wilshire Lane Capital:
Courtesy of Wilshire Lane Capital
After leading 14 early-stage investments including storage startups Neighbor, Saltbox, and Stuf Storage, remote-work marketplace WorkChew and cloud kitchen unicorn Kitopi, Demuyakor wanted to begin institutionalizing Wilshire Lane to draw interest from larger allocators like endowments and pensions. His friend Henri Pierre-Jacques, co-founder of TPG Capital and KKR-backed Harlem Capital recommended Demuyakor reach out to José E.
After months of negotiation, Lindsey’s Nile Capital will buy about 25% of Wilshire Lane for an unspecified price, while the majority of ownership will stay with Demuyakor. Stealth until mid-2020, Wilshire Lane has invested well over $10 million in property tech startups, often alongside bigger investors such as FJ Labs and his former employers Andreessen Horowitz and Fifth Wall Ventures. Demuyakor wants to grow bigger to capitalize on real estate markets in transition. .
Born the son of immigrants from Ghana, Demuyakor grew up in Gwinnett County, Georgia, about an hour north of Atlanta. He first worked on Wall Street after taking an analyst role at investment bank Morgan Stanley after graduating from Harvard with an undergraduate degree in 2011. Then, after a stint as an associate at private equity giant Carlyle Group, Demuyakor matriculated to Harvard Business School in 2015.
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