JUST IN: FG Announces Fresh Investment Funds For Startups

FG Announces Fresh Investment Funds For Startups
$64m fund with Ventures Platform begins investments for startups
Programme targets youth empowerment and innovation growth nationwide

The Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme has announced plans to introduce two additional funds in 2026 to further strengthen Nigeria’s fast-growing technology and creative industries.

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EKO HOT BLOG reports that the initiative, which targets early-stage and high-growth startups across the country, was unveiled after the iDICE Steering Committee, chaired by Vice President Kashim Shettima, confirmed the formal commencement of investments under the programme.

This development follows the successful $64 million first-round close of a new venture fund anchored by iDICE and managed by Ventures Platform, a leading pan-African seed-stage investor. The fund, which targets a final close of $75 million, also includes major institutional investors such as the International Finance Corporation, Standard Bank of South Africa, and British International Investment.

Vice President Shettima hailed the achievement as a significant milestone in Nigeria’s commitment to unlocking the economic potential of its youth. “The commencement of investing by iDICE is an exciting milestone and a leap forward in our determined efforts to unleash the full potential of Nigeria’s young people, in line with the Renewed Hope agenda,” he said.

The Managing Director of the Bank of Industry, Dr Olasupo Olusi, said the initiative reaffirms the government’s commitment to scaling up the technology and creative sectors through targeted financing. He noted that the partnership with Ventures Platform would catalyse investments in high-growth ventures, create jobs, and promote entrepreneurship nationwide.

Ventures Platform’s Founding Partner, Kola Aina, expressed optimism about the collaboration, describing it as an opportunity to help Nigerian innovators transform ideas into impactful businesses.

Beyond the technology fund, iDICE confirmed that a Creative Sector Fund and a Fund of Funds will launch in 2026 to provide further support for startups and investors within the ecosystem.

Backed by the African Development Bank, Islamic Development Bank, and French Development Agency, the $617 million iDICE programme aims to empower Nigerians aged 15 to 35 through funding, digital skills development, and ecosystem support