The Federal Government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) programme has announced plans to launch two additional funds in 2026, aimed at supporting technology and creative sector start-ups across the country.
The announcement follows the formal kick-off of iDICE’s anchor investment in a new venture fund by Ventures Platform, a pan-African seed-stage fund. The first-round close of the fund raised $64 million, with a target final close of $75 million.
The iDICE Steering Committee Chair, Vice President Kashim Shettima, described the initiative as an exciting milestone that will leverage the potential of Nigerian youth. He said:
“The commencement of investing by iDICE is 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.”
Dr Olasupo Olusi, MD/CEO of Bank of Industry, highlighted that investing in Ventures Platform Fund II deepens the Federal Government’s objective of upscaling the Nigerian technology and creative sectors by catalyzing strategic investments in high-growth, technology-enabled enterprises.
Kola Aina, Founding Partner at Ventures Platform, expressed confidence in 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 to bring their innovative ideas and solutions to life—creating deep value and transforming the country’s economy.”
The iDICE programme operates across three main areas:
- Skills and enterprise development – building a community of highly skilled talent.
- Expanding access to finance – via equity, quasi-equity, debt capital funding, and capacity-building grants.
- Creating an enabling environment – through pro-business policies and legislation.
In 2026, iDICE plans to expand its investments beyond technology with two additional funds: a creative sector fund for creative start-ups and a “fund of funds” to support smaller funds backing technology and creative sector ventures.
Launched as a $617 million initiative, iDICE supports young Nigerians aged 15-35 with skills and resources in the technology and creative economy, aiming to boost employability, foster innovation, and create new entrepreneurs. It is supported by the African Development Bank (AfDB), Islamic Development Bank (IsDB), and French Development Agency (AFD), with the Bank of Industry as co-investor and implementing agency.
Since its founding in 2016, Ventures Platform has invested in over 90 startups across Africa, including notable companies like Paystack, Piggyvest, Moniepoint, and LemFi.
