Nigeria’s iDICE Programme Launches New Funds to Boost Tech and Creative Startups
Nigeria’s Investment in Digital and Creative Enterprises (iDICE) programme has unveiled plans to launch two new funds in 2026, aiming to enhance financing opportunities for startups within the country’s technology and creative sectors. This development marks a significant milestone as iDICE officially enters its investment phase, with a key initial step being an anchor commitment to a venture capital fund managed by Ventures Platform.
The fund reached a first close of $64 million on Thursday, November 6, with support from major institutions such as the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment. These contributions highlight the growing confidence in Nigeria’s tech ecosystem and its potential for innovation.
Ventures Platform was selected in August 2025 as the fund manager for iDICE’s technology component after a rigorous selection process led by the programme’s partners. This appointment underscores the firm’s expertise and track record in supporting African startups.
Vice President Kashim Shettima, who leads the iDICE Steering Committee, emphasized the importance of this milestone as part of the Federal Government’s efforts to unlock the potential of young Nigerians under President Bola Ahmed Tinubu’s Renewed Hope agenda. He stated that the start of iDICE’s investments reflects the government’s commitment to fostering youth-driven innovation and entrepreneurship across the nation.
Olasupo Olusi, Managing Director of the Bank of Industry (BoI), highlighted the significance of the government’s involvement in Ventures Platform Fund II. He noted that this initiative aligns with Nigeria’s broader economic transformation goals, including job creation and empowering entrepreneurs nationwide.
Kola Aina, Founding Partner of Ventures Platform, expressed pride in being chosen as iDICE’s technology fund manager. He emphasized the firm’s readiness to help young innovators turn their ideas into impactful solutions that contribute to national growth.
Strategic Pillars of the iDICE Programme
The iDICE programme is structured around three strategic pillars: developing skilled digital and creative talent, improving access to financing through diverse investment instruments, and shaping a more supportive policy environment for innovation and enterprise.
As part of its 2026 rollout, iDICE will introduce two additional funds. One will be a dedicated creative sector fund targeting early-stage ventures in Nigeria’s growing creative economy. The other will be a “fund of funds” designed to invest in smaller capital pools that support both tech and creative startups.
With an initial funding of $617 million from the African Development Bank Group, the Islamic Development Bank, and the French Development Agency, iDICE aims to equip Nigerians aged 15 to 35 with the skills, capital, and support needed to thrive in the digital and creative economy. The Bank of Industry serves as co-investor and implementing agency.
Ventures Platform’s Role in Nigerian Innovation
Founded in 2016, Ventures Platform has invested in over 90 African startups, including Paystack, Piggyvest, Moniepoint, and LemFi. With its strong track record and deep ecosystem ties, the firm is well-positioned to play a central role in driving the next wave of Nigerian innovation.
Nigeria CommunicationsWeek reports that the iDICE programme is one of the Federal Government’s flagship initiatives to harness the potential of Nigeria’s youth population and position the country as a hub for digital and creative excellence in Africa and beyond.