Nigeria’s Investment in Digital and Creative Enterprises (iDICE) programme has announced plans to launch two new funds in 2026 to expand financing opportunities for startups in the country’s technology and creative sectors. The announcement comes as iDICE officially begins its investment phase, with a major first move being an anchor commitment to a new venture capital fund managed by Ventures Platform.
The fund reached a first close of $64 million on Thursday, November 6, with backing from the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment.
Ventures Platform was appointed in August 2025 as the fund manager for iDICE’s technology component following a competitive selection process overseen by the programme’s partners.
Vice President Kashim Shettima, who chairs the iDICE Steering Committee, described the milestone as a significant step in the Federal Government’s drive to unlock the potential of young Nigerians under President Bola Ahmed Tinubu’s Renewed Hope agenda.
“The start of iDICE’s investments signals our government’s determination to support youth-driven innovation and entrepreneurship across the country,” Shettima said.
Also speaking on the development, Managing Director of the Bank of Industry (BoI), Mr. Olasupo Olusi, said the government’s participation in Ventures Platform Fund II reinforces its commitment to scaling Nigeria’s technology and creative sectors through strategic support for high-growth, tech-enabled businesses.
“This effort aligns with Nigeria’s broader economic transformation goals, including mass job creation and empowering entrepreneurs nationwide,” Olusi stated.
Kola Aina, Founding Partner of Ventures Platform, expressed pride in being selected as iDICE’s technology fund manager, noting the firm’s readiness to help young innovators turn their ideas into impactful solutions that contribute to national growth.
The iDICE programme operates across 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: a dedicated creative sector fund targeting early-stage ventures in Nigeria’s growing creative economy, and a “fund of funds” designed to invest in smaller capital pools that support both tech and creative startups.
Launched with $617 million in funding 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, founded in 2016, has invested in more than 90 African startups, including Paystack, Piggyvest, Moniepoint, and LemFi. With its track record and deep ecosystem ties, the firm is positioned to play a central role in driving the next wave of Nigerian innovation.
Ravenewsonline 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.
