Adeyemi Ajao

Adeyemi Ajao is a prominent venture capitalist and entrepreneur, currently serving as the Managing Partner at Base10 Partners, a venture capital firm focused on investing in automation for the real economy. Ajao co-founded Base10 Partners in 2017, which has distinguished itself as the first Black-led venture capital firm to surpass $1 billion in assets under management.45

Background and Education

Ajao was born in Nigeria and raised in Spain, where he experienced the challenges of being an outsider in various cultural contexts. He began his entrepreneurial journey while studying at Universidad Pontificia Comillas, where he earned degrees in Law and Finance & Economics. He later attended Stanford University, where he received his MBA and a certificate in Machine Learning.14

Career Highlights

Before establishing Base10 Partners, Ajao co-founded several successful startups:

• Tuenti: Often referred to as "The Spanish Facebook," Tuenti was founded in 2005 and later acquired by Telefonica for $100 million.
• Identified: A machine learning company focused on HR technology, which was acquired by Workday in 2014.
• Cabify: A ride-hailing service in Latin America, where Ajao played a key role in its launch and growth, helping it raise significant venture capital.124

In addition to his entrepreneurial ventures, Ajao held positions in technology product strategy at Workday and has been involved with other startups like Jobandtalent, further establishing his reputation in the tech and venture capital sectors.124

Investment Philosophy

Ajao's investment approach at Base10 Partners emphasizes supporting founders who tackle practical, often overlooked problems in traditional industries, such as logistics and waste management. He is committed to investing "for the 99 percent," focusing on solutions that can significantly impact everyday lives.45 Ajao's unique perspective as an outsider has shaped his understanding of the challenges faced by entrepreneurs outside Silicon Valley, and he actively seeks to empower those who share his maverick spirit.34

Recognition

Ajao has gained recognition for his contributions to the venture capital landscape, being named to the Forbes Midas List as the first Black investor on the list, which highlights top venture capitalists.25 His work also includes initiatives aimed at supporting diversity in the tech industry, such as the Advancement Initiative, which allocates half of its profits to scholarships for Historically Black Colleges and Universities (HBCUs) .24