The Federal Government has announced plans to introduce two new investment funds in 2026 to support Nigerian technology and creative startups under its Investment in Digital and Creative Enterprises (iDICE) initiative.
According to government officials, the new financing windows—a Creative Sector Fund and a Fund of Funds for smaller investment vehicles—are designed to boost capital access for young innovators and drive job creation under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The announcement was made in a statement released on Monday by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice President. It followed an update from the iDICE Steering Committee marking what Vice President Kashim Shettima described as “an exciting milestone,” after a $64 million first close of a new venture fund anchored by Ventures Platform, a pan-African seed-stage investment firm targeting a final close of $75 million.
Ventures Platform, appointed in August 2025 as the iDICE Technology Fund Manager through a competitive selection process, joins other key institutional investors such as the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII).
Vice President Shettima praised the progress, noting that “the commencement of investing by iDICE is a leap forward in our determined efforts to unleash the full potential of Nigeria’s young people,” emphasising that it aligns with the administration’s goal of building a modern, innovation-driven economy.
Dr Olasupo Olusi, Managing Director of the Bank of Industry (BoI), said the iDICE-backed investment in Ventures Platform’s Fund II highlights the government’s commitment to catalysing growth in the nation’s tech and creative sectors. “This development will contribute meaningfully to the broader economic transformation agenda, creating jobs and empowering high-growth entrepreneurs,” he stated.
Ventures Platform’s Founding Partner, Kola Aina, expressed excitement about the collaboration, saying, “We are delighted to have been selected as the iDICE Technology Fund Manager to support Nigeria’s young entrepreneurs and innovators.”
The $617 million iDICE programme, supported by the African Development Bank Group (AfDB), Islamic Development Bank (IsDB), and the French Development Agency (AFD), focuses on empowering Nigerians aged 15 to 35 through technical skills, entrepreneurial training, and funding opportunities.
The Bank of Industry serves as a co-investor and implementing agency.
iDICE operates through three main pillars: skills and enterprise development, access to finance through equity, quasi-equity, and debt instruments and policy reforms to enhance the business environment.
Founded in 2016, Ventures Platform has invested in over 90 startups across Africa, including fintech leaders Paystack, Piggyvest, Moniepoint, and LemFi.
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