From Serial Entrepreneur to Venture Capitalist
Adeyemi Ajao
Early Life and Multicultural Background
Adeyemi Ajao was born to a Spanish mother and a Nigerian father. His upbringing was multicultural, as he lived in Spain, Nigeria, and Italy before settling in the picturesque beach town of Marbella, Spain. This diverse upbringing shaped his entrepreneurial mindset, fostering an open perspective on different ways of thinking and selling products1.
Education and Entrepreneurial Journey
High School and Coding Passion: Ajao nurtured a passion for coding throughout high school. Despite being among the few black students in his school, he persevered and sought role models in the technical fields he was interested in.
Tuenti Cofounder: While studying in Madrid, Ajao co-founded Tuenti, often called the “Spanish Facebook.” Tuenti competed with Facebook for users in Spain and eventually sold to Spanish telecom giant Telefonica for €75 million in 201012.
Big Data Pioneer: After Tuenti, Ajao co-founded Identified, a big data company later acquired by Workday in 20141.
Venture Capital and Investments: Ajao currently leads Base10 Partners, a Silicon Valley venture capital firm. Base10 is the first Black-led VC firm to manage over $1 billion in assets. Ajao actively invests in European startups and has stakes in companies like Nubank, Figma, Rappi, and Instacart12.
Inspiration and Resilience: Ajao’s entrepreneur father served as his role model and inspiration. Despite challenges, Ajao believed in himself and persisted in facing adversity1.
Notable Accomplishments
Co-founded Tuenti, a social network, and sold it to Telefonica for $100 million.
Co-founded Identified, a big data company, which Workday later acquired.
Currently manages Base10 Partners, a venture capital firm focusing on diversity and impact.