🍔 Quick Bite: Nigeria is investing $64 million in Ventures Platform from its $617 million iDICE program, joining a growing wave of African governments putting money into startups. The move will test whether state-backed venture capital can genuinely boost the local ecosystem.
🧠 The Breakdown
Last week, Nigeria became the latest African government to back its words with capital. The country deployed funds from its $617 million iDICE program into Ventures Platform as a limited partner.
While this marks the first time the Nigerian government has invested in a VC fund, it isn’t entirely new on the continent. From Cairo to Kigali, African governments are increasingly stepping into venture capital.
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Last updated: November 10, 2025
