Nigeria To Launch New Tech & Creative Startup Funds Of $64M+

Contents

Nigeria To Launch New Tech & Creative Startup Funds Of $64M+
- What It Means For Business
- Bizpremi’s Take

The Africa Giant Nigeria is not small permit me to say. In recent times, we have seen massive improvements in in development, by fundings, creating new paths for businesses. Given investors and businesses the confidence needed to operate in the country. Just not long ago, we saw the rise in Investment In Capital goods in Nigeria. This tells us that, the country is already doing good.

This is not the first funding, and won’t be the last. This funding, is focused on technology, and the creative industries looking forward to deepen access to capital for young innovators and startups, across the country.

Already, the tech fund has achieved a first move of $64 million, with institutional support from the International Finance Corporation (IFC), Standard Bank of South Africa and British International Investment (BII). The target final close is expected to be around $75 million.

This movement is the part of the agenda, RENEWED HOPE. Under the President of Nigeria. His excellency, President Bola Ahmed Tinubu (BAT) aiming to groom Nigeria’s youth population, into a innovation and high growth driven economy.

What It Means For Business

Capital access improves: For early access tech and creative ventures, the new funds mean better chances of bridging the financing gap. Importantly, in a market where access to growth capital remains a bottleneck.
Ecosystem development: With the government backing these funds, there should be more ecosystem support from talent development to regulatory reforms. Making Nigeria more attractive for both domestic and global investors.
Investor opportunity: The creative sector fund and fund of funds structure open routes for institutional and private investors to participate in moderate risk portfolios, rather than backing single startups directly.

However, this is business. Therefore, challenges remain. Startups will need strong governance, supervision, scalability and exit routes to convert the funding into high returns.

Bizpremi’s Take

Nigeria’s latest move signals that the startup narrative is shifting from promise to platform. Backed by government policy and global capital. It’s no more about promising, it’s about creating a platform for the promises. And these, trust me we are already seeing. The tech and creative sectors are gaining more legitimacy. But the true test will be scaling winners and generating meaningful returns. For investors, the time to watch is now.