Condia Insider: Can state-backed VC work?
- Nigeria invests $64 million in Ventures Platform from its $617 million iDICE program.
- Egypt Ventures has deployed over $15 million across more than 150 startups since its launch in 2017.
- Morocco's Innov Invest Fund financed 68 startups between 2017 and 2019, primarily at the pre-seed or seed stage.
The increasing trend of government investment in venture capital across Africa presents both opportunities and risks. While it can potentially bolster local ecosystems, the success of such initiatives hinges on maintaining independence from political influence and ensuring alignment with local market needs. The outcomes of Nigeria's investment in Ventures Platform could serve as a critical case study for other nations considering similar approaches.
