Ventures Platform Secures $64M for Second Fund, Boosting Nigeria's Startup Ecosystem

Lagos-based Ventures Platform has raised $64 million for its second fund, with backing from the Nigerian government, marking a pivotal moment for Nigerias startup company ecosystem.

Ventures Platform, a key player in Nigerias venture capital landscape, aims to finalize its second fund at $75 million, having secured $64 million to date.
The Nigerian governments investment through its Investment in Digital and Creative Enterprises (iDICE) program represents a historic commitment to supporting local startup companies.
Notable investors in the fund include British International Investment and the International Finance Corporation, alongside venture capital leaders like Michael Seibel from Y Combinator.
With this funding, Ventures Platform intends to support early-stage startup companies, particularly those seeking Series A round investments, enhancing Nigerias innovative landscape.
Kola Aina, founding partner of Ventures Platform, emphasizes the importance of pan-Africanism and collaboration to strengthen Nigerias position in the global startup ecosystem.

Why It Matters

This funding initiative is crucial for Nigerias burgeoning startup community, fostering innovation and economic growth. The governments involvement signals a potential shift in support for venture capital, encouraging further investments in the region.