Nigeria to launch two new investment funds for tech, creative start-ups in 2026

Abdullateef Fowewe

The Federal Government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) programme has unveiled plans to introduce two additional funds targeting technology and creative sector start-ups nationwide in 2026.

This was made known in a statement on Monday by the Senior Special Assistant to The President on Media & Communications (Office of The Vice President), Stanley Nkwocha.

The announcement coincides with the formal launch of iDICE’s first anchor investment in Ventures Platform’s new fund, which recently achieved a $64 million first-round close.

Vice President and Chairman of the iDICE Steering Committee, Kashim Shettima, hailed the event as “an exciting milestone and a leap forward in the determined efforts of the Government of Nigeria, under the leadership of His Excellency President Bola Ahmed Tinubu, to deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope agenda.”

Ventures Platform, appointed as Fund Manager for iDICE’s technology component in August 2025, leads this $64 million fund alongside institutional investors such as the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII). The fund targets a final close of $75 million.

Dr Olasupo Olusi, MD/CEO of Bank of Industry, emphasised the government’s renewed commitment through this investment, stating it will “contribute meaningfully to the nation’s broader economic transformation agenda, with goals to create jobs at scale and empower high-growth entrepreneurs across the country.”

Kola Aina, Founding Partner at Ventures Platform, expressed enthusiasm about the partnership: “We are delighted to have been selected as the iDICE Technology Fund Manager, partnering with the Federal Government of Nigeria and other key stakeholders to achieve our collective goal of supporting Nigeria’s young entrepreneurs and innovators creating deep value and transforming the country’s economy.”

The iDICE programme focuses on three key areas: developing a skilled talent community, expanding access to finance via various funding instruments, and fostering an enabling business environment through supportive policies. Beyond the technology fund, iDICE intends to launch a creative sector fund and a fund of funds aimed at smaller funds supporting the tech and creative sectors.

Launched with $617 million in financing from partners including the African Development Bank Group, Islamic Development Bank, and the French Development Agency, iDICE targets Nigerians aged 15-35 to boost skills, employability, innovation, and entrepreneurship in the digital and creative economies.

Since its inception in 2016, Ventures Platform has invested in over 90 startups across Africa, including notable names like Paystack, Piggyvest, Moniepoint, and LemFi.