Story perspectives

Nigeria’s Ventures Platform Raises $64M, Boosting Startup Confidence

11/7/2025

Summary

Story summary

Lagos-based Ventures Platform has raised $64 million for its second fund, targeting $75 million.
This marks the Nigerian government's first investment in a VC fund through the iDICE program, signaling confidence in Nigeria's startup ecosystem.
The fund will focus on early-stage investments, including Series A rounds, to support underserved markets amid funding slowdown.
Ventures Platform has invested in over 90 startups, including fintechs Moniepoint and Paystack.

History

Historical Context

In 2022, Nigeria initiated the iDICE program, allocating $618 million to enhance its tech sector and support startups. This initiative reflects a broader trend of investment in innovation, as evidenced by Ventures Platform's $64 million fund aimed at early-stage investments. Such efforts are crucial for fostering economic growth and job creation in Nigeria's emerging startup ecosystem.

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Story summary

Lagos-based Ventures Platform has raised $64 million for its second fund, targeting $75 million.
This marks the Nigerian government's first investment in a VC fund through the iDICE program, signaling confidence in Nigeria's startup ecosystem.
The fund will focus on early-stage investments, including Series A rounds, to support underserved markets amid funding slowdown.
Ventures Platform has invested in over 90 startups, including fintechs Moniepoint and Paystack.

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