Oo Nwoye you hit the point on the nail here. I have been on the receiving end of this exactly and I will share my story soon. It is true that most local investors still don’t have the appetite for long time. This is why it seems many are too protective of their fund. They want to see what you can do with the first tranche before releasing others.
At the same time, I have been on the investor side where I gave the total amount to agreed to someone immediately we reached agreement even without signing any contract document based on trust and he disappeared after few weeks with no response to emails. I only found out later that he is working on another idea. Will this make me to stop investing and trusting others? Definitely, NO.
We just need to strike a balance and ensure that we continue to build confidence in the ecosystem. We will definitely have success stories to share soon.