Ventures Platform closes $64 million fund with Nigeria’s government as an investor
- The Nigerian government is directly investing in startups for the first time through Ventures Platform.
- Ventures Platform has announced a $64 million first close for its second fund, VP Pan-African Fund II.
- The iDICE program is participating as a Limited Partner in Ventures Platform, marking its first investment in a private venture fund.
The Nigerian government's involvement in startup investing through the Ventures Platform is a promising development that could stimulate innovation and growth in the tech sector. This initiative not only provides necessary funding but also fosters a collaborative environment between public and private sectors, potentially leading to a more robust startup ecosystem in Nigeria. However, the success of this model will depend on effective implementation and ongoing support from all stakeholders involved.
