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The Nigerian Government’s Investment in Digital and Creative Enterprises, iDICE, programme has announced plans to launch two additional funds for the technology and creative sectors next year, targeting investments in start-ups across the country.
The announcement comes as the Chairman of the iDICE Steering Committee, Vice President Kashim Shettima, described the formal kick-off as an exciting milestone that will leverage the potential of the country’s youth. It featured an anchor investment in a new venture fund by Ventures Platform, a pan-African seed-stage fund.
The new funding achieved a $64 million first-round close based on investor commitments last Thursday.
Ventures Platform was appointed as the Fund Manager for the technology component of iDICE in August 2025, following a competitive bidding process supervised by the funding partners.
With this development, iDICE joins other institutional investors, including the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII) in the new fund, which has achieved a $64 million first close and targets a final close of $75 million.
Vice President Shettima emphasised earlier that “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 President Bola Tinubu, “to deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope agenda.”
Responding to the development, the Managing Director of Bank of Industry, Dr Olasupo Olusi said that by investing in Ventures Platform’s Fund II, authorities are deepening Government’s objective of upscaling the Nigerian technology and creative sectors by catalysing strategic investments in high-growth, technology-enabled enterprises and the innovation ecosystem.
He said “the development will contribute meaningfully to the nation’s broader economic transformation agenda, with goals to create jobs at scale and empower high-growth entrepreneurs across the country.”
Founding Partner at Ventures Platform, Kola Aina expressed confidence in the partnership, saying;
“We are delighted to have been selected as the iDICE Technology Fund Manager, partnering with the Nigerian Government and other key stakeholders to achieve a collective goal of supporting Nigeria’s young entrepreneurs and innovators to bring their innovative ideas and solutions to life.”
The iDICE programme is being implemented across three broad areas: skills and enterprise development, focused on building a community of highly skilled talent; expanding access to finance through equity, quasi-equity, debt capital funding, and capacity-building grants; and creating an enabling environment through pro-business policies and legislation.
In addition to its technology-focused investments in 2026, iDICE announced it “will launch two additional funds: a creative sector fund that will invest in creative sector start-ups and a ‘fund of funds’ that will invest in smaller funds supporting technology and creative sector startups.”
iDICE is a $617 million programme launched by the Nigerian Government to support young citzens aged 15-35 with skills and resources in the technology and creative economy sectors, aiming to increase employability, foster innovation, and create new entrepreneurs.
It is supported by financing from the African Development Bank Group (AfDB), Islamic Development Bank (IsDB), and the French Development Agency (AFD), with the state-owned Bank of Industry serving as co-investor and implementing agency.
Since its founding in 2016, Ventures Platform has invested in more than 90 startups across Africa.