FG to Launch Two New Investment Funds For Startups in 2026

• The Federal Government has unveiled plans to launch two new investment funds under the iDICE programme in 2026.

The Federal Government has announced plans to establish two new investment funds under its Investment in Digital and Creative Enterprises (iDICE) programme to boost Nigeria’s technology and creative sectors in 2026.

This was contained in a statement issued on Monday by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice President.

According to Nkwocha, the announcement followed a major milestone in the iDICE initiative as Vice President Kashim Shettima, who chairs the programme’s Steering Committee, confirmed the formal commencement of investments through an anchor venture fund managed by Ventures Platform, a pan-African seed-stage investment firm.

He revealed that the new fund has already secured $64 million in its first round of financing, attracting institutional investors such as the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII). The fund targets a final close of $75 million.

Quoting the Vice President, Nkwocha 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 President Bola Ahmed Tinubu, to unleash the full potential of Nigeria’s young people, in line with the Renewed Hope agenda.”

The Managing Director of the Bank of Industry (BoI), Dr. Olasupo Olusi, said the government’s participation in Ventures Platform’s Fund II reflects a deep commitment to growing digital and creative enterprises nationwide.

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“By investing in this fund, we are catalysing high-growth, technology-enabled enterprises that will drive job creation and advance Nigeria’s broader economic transformation,” Olusi stated.

Similarly, Kola Aina, Founding Partner of Ventures Platform, described the partnership as a strategic step that will empower young innovators to “bring their ideas to life, create value, and transform the economy.”

Valued at $617 million, the iDICE programme supports young Nigerians aged 15 to 35 through access to finance, enterprise development, and an enabling business environment. It is jointly backed by the African Development Bank (AfDB), Islamic Development Bank (IsDB), and the French Development Agency (AFD), with the Bank of Industry serving as co-investor and implementing agency.

As part of its 2026 agenda, iDICE will introduce two new funding mechanisms — a Creative Sector Fund for startups in film, music, and digital content, and a Fund of Funds, which will channel resources into smaller venture funds investing in both tech and creative enterprises across the country.