My family’s involvement in business shaped my mindset and planted the seed for my journey – Oyekan

Danny Oyekan is a visionary entrepreneur, investor, and innovator deeply rooted in the blockchain space. He is the founder of Blockfinex and Dan Ventures organisations committed to fostering growth for startups and driving digital transformation across the world. In this interview with INIOBONG IWOK, he spoke about his journey into business, reasons for the achievements he has recorded, some successful exits from investment portfolios, need for government to prioritise a National Bitcoin Strategy like other nations, among others. Excerpts:

Few people achieve the level of success you have achieved at such a young age, especially in high-risk, competitive spaces like technology and entrepreneurship. What’s the driving force behind your journey?

Entrepreneurship has always felt like second nature to me. Growing up in a family with a strong entrepreneurial background, I was surrounded by business from an early age. My family’s involvement in sectors like banking, energy and construction shaped my mindset and planted the seeds for my journey. But beyond heritage, my personal drive stems from a desire for freedom—the kind that comes from building something of your own. Of course, success is a subjective concept. While I’ve had some incredible highs, I’ve also faced tough moments. The stakes are even higher in emerging fields like blockchain, where innovation meets unpredictability.

A key moment for me was in 2012 when I made my first Bitcoin investment. At the time, digital currencies were largely uncharted territory, but I saw a glimpse of their potential. By 2017, I sold part of my holdings to fund my first major venture, Dan Ventures. That decision marked the start of a journey that has been both challenging and rewarding.

Can you walk us through your journey into entrepreneurship? What advice do you have for aspiring entrepreneurs?

For me, entrepreneurship was less of a choice and more of a calling—it was embedded in my upbringing. But make no mistake, it’s not an easy path. I recently came across a quote that perfectly sums it up: “Entrepreneurship is staying up late, head in your hands, wondering what’s next.” That has been my reality more times than I can count. Unlike a traditional job, there’s no safety net in entrepreneurship. Success brings immense rewards, but failure is just as real, and it teaches you lessons you can’t learn anywhere else. My advice? Entrepreneurship does not have the buffer and safety net that paid employment provides. If you succeed, you succeed and if otherwise, you take your lessons and keep moving. So, my first advice would be to have a strong conviction about what you want to do and why; be absolutely clear about your vision and purpose. That conviction and clarity will keep you going when the tough times come. The second is that, if you must go that route, be willing to go all in. Half-measures won’t cut it in this game.

Dan Ventures was your first major venture. Can you share its evolution and how it became Globalcoin?

When I looked around the Web3 space in Africa at the time, I saw two key things: abundant talent and untapped potential. Young people had incredible ideas but lacked the resources to bring them to life. Similarly, our markets held vast opportunities for growth, but the infrastructure to support startups was missing. Dan Ventures was born out of a desire to bridge that gap. It started as a platform to support blockchain startups with funding, mentorship, and networks. The goal was simple: help startups scale and succeed in a challenging environment where only a few make it past the early stages.

As Dan Ventures grew, so did its scope. We expanded into multiple areas, and it became clear that we needed a centralised structure. That’s how Globalcoin (formerly Dan Holdings) came to life—a parent company that houses all our initiatives. Today, our focus remains on identifying early-stage startups, nurturing them, and creating products with a global appeal.

How would you assess the success of your investment-related projects?

Investing is inherently risky. You go into every project knowing it could go either way—success or failure. That said, we approach every opportunity with meticulous due diligence. We evaluate the product’s viability, its potential market impact, and its alignment with metrics like Product-Market Fit (PMF). Another crucial factor is the integrity of the founders; their character often determines a venture’s trajectory.

Our investments have yielded significant results. We’ve helped bring new talent, startups, and users into the Web3 space. Many of these startups have achieved remarkable growth with our support.

Beyond funding, we offer strategic advisory, networking opportunities, and training to equip founders with the tools for long-term success. While the journey is ongoing, the progress so far has been gratifying.

How has your experience in blockchain technology influenced your ability to identify promising ventures?

Investment decisions must be data-driven, not emotional. My background in blockchain has honed my analytical skills and taught me to recognise patterns that signal potential. Experience has also sharpened my instincts. Having been in this space for a while makes me able to identify what project can fly and which can fail. Sometimes, you meet a founder or hear an idea, and you just know—this is something special.

Have you had any notable successful exits from your investment portfolios?

Yes, we have had some successful exits. Mostly token-related where we’ve invested in token projects and they’ve done extremely well after listing on top tier exchanges. In terms of equity projects there have been only a few exits in general in the African space of which we acquired Fluidcoins, a Crypto Payment processor.

Do you currently invest in sectors outside of tech startups?

For now, tech startups are our primary focus. While we may diversify into other sectors in the future, our strategy is to stay within a space we deeply understand and where we can make the most impact.

Beyond technology, are you involved in any social initiatives?

Yes, giving back has always been a priority for me. During the COVID-19 pandemic, we partnered with Life Bank to donate $50,000 worth of oxygen to hospitals. Additionally, we contributed $50,000 to $100,000 in relief funds to support individuals and families affected by the crisis.

We’ve also organised skill acquisition programs to train young talents and connect them with global opportunities. Currently, we’re restructuring the Dan Foundation to scale these efforts and deliver even greater social impact.

There were some reported issues between your company, Dan Ventures and another blockchain startup, Bridge Network. Can you provide clarity on this?

This was a challenging experience, a sore and teachable moment for me as a professional and an entrepreneur, with many lessons. I suffered some personal reputation damage as a result of the matter.

I will shed a little light on it. Dan Ventures was one of the early investors in Bridge Network, because, at the time, we saw real prospects with the project. We made an investment of $380,000 in the startup; and afterwards, things started going downhill, starting from some internal conflicts among the co-founders, which disrupted the operational harmony of the project. We’ve learned lessons and remained committed to supporting credible, innovative ventures. Every challenge comes with lessons, and this has been no exception.

What advice would you offer entrepreneurs on building sustainable partnerships?

Partnerships thrive on clear communication, aligned goals, and mutual respect. First, ensure you and your partners share a unified vision. Second, remain flexible—adapt and pivot when necessary. Third, never underestimate the importance of due diligence. Vet potential partners thoroughly to understand their strengths, weaknesses, and compatibility with your goals. Finally, think long-term. Focus on relationships that will stand the test of time, not just those that serve immediate interests.

If you could recommend one policy direction to the Nigerian government, what would it be?

The government needs to prioritise a National Bitcoin Strategy. Countries like the United States, China, Russia El Salvador and Brazil amongst many others have already amassed a huge stash of reserves and are now creating their Strategic Bitcoin reserves. The country’s foreign reserves have been in a dire situation for a while now and I would say a 5-10% allocation will be necessary to keep up with the ever-evolving global macro-economic environment. I will be more than happy to help with this if called upon.

Also, digital and financial technology education. By integrating these into the national curriculum early on, we can equip students with essential skills. Establishing innovation hubs in schools and creating internship opportunities can provide hands-on experience.

Additionally, incentivizing continuous learning in tech fields would empower the workforce to stay relevant. These measures could position Nigeria as a leader in the global digital economy while preparing future generations for success.