The Nigerian government has made a bold commitment to strengthening its digital and creative sectors by investing in Ventures Platform’s second Pan-African Fund. This investment facilitated through the Investment in Digital and Creative Enterprises (iDICE) programme marks a milestone in Nigeria’s ambition to become a leading innovation hub in Africa. According to Kola Aina, Founding Partner at Ventures Platform, the decision followed a rigorous two-year process of evaluation and partnership development.

Ventures Platform, one of Africa’s most prominent seed-stage venture capital firms, recently announced the first close of its Pan-African Fund II at $64 million, targeting $75 million for its final close by Q1 2026. This makes it one of the few African VC firms to close a major fund this year, following LoftyInc Capital’s $43 million close earlier in March — a strong sign of resilience amid a global funding slowdown.

Beyond Nigeria’s participation, Ventures Platform’s Fund II includes a diverse mix of international partners such as the International Finance Corporation (IFC), Standard Bank, British International Investment (BII), and Proparco via its Choose Africa VC program. Others include AfricaGrow, Egypt’s MSMEDA, Alder Tree Investment, and former Y Combinator partner Michael Seibel — reflecting growing confidence in Africa’s tech ecosystem among global financial institutions.

The iDICE programme, launched in 2023 as a $618 million initiative, aims to boost capital access for Nigeria’s digital and creative entrepreneurs. Dr. Olasupo Olusi, Managing Director of the Bank of Industry (BOI), explained that investing in Ventures Platform’s Fund II aligns perfectly with the Federal Government’s mission to catalyse job creation and innovation. “We’re deepening our objective of upscaling the Nigerian technology and creative sectors by catalysing strategic investments in high-growth enterprises,” he stated.

Kola Aina highlighted the importance of local participation in the fund, noting that having iDICE as a limited partner (LP) is a “strong signal” of government commitment. He described the partnership as a turning point one that bridges policy ambition and practical funding through a market-driven model, encouraging both domestic and foreign investors to take part in Nigeria’s innovation story.

Ventures Platform’s Fund II follows a "market-creating innovations" thesis, focusing on early-stage investments with meaningful stakes leading up to Series A. The firm also plans to expand deeper into Francophone and Northern Africa, recruiting local teams to gain early access to promising startups and build stronger regional ecosystems. This geographic expansion underscores Ventures Platform’s confidence in Africa’s growing tech potential.

While the firm remains deeply rooted in fintech, backing companies like Moniepoint, Piggyvest, and Remedial Health, it’s also targeting emerging frontiers including artificial intelligence, stablecoins, and trade formalisation. Ventures Platform expects to make between 30 and 40 investments under Fund II, spreading its influence across multiple high-impact sectors on the continent.

The infusion of public capital into a private-led venture fund signals a maturing perspective in Nigeria’s policy landscape. This collaboration could serve as a blueprint for African governments, showing how smart capital deployment can inspire investor confidence and accelerate digital transformation. By backing innovation through equity, Nigeria is reaffirming its commitment to the future of work, the digital economy, and the youth shaping it.

On the matter of exit strategies, Aina acknowledged that secondaries play a growing role for early-stage investors in Africa. Yet, he cautioned against overreliance on them: “Secondaries are an important tool, but progress must be measured,” he said, calling for broader exit avenues to ensure a sustainable investment cycle that supports long-term ecosystem growth.