Ventures Platform, which invests in startups across Africa from the seed stage to Series A, will now receive support from the Nigerian government.
The investment, made through the Investment in Digital and Creative Enterprises (iDICE) programme, was approved after a comprehensive evaluation process that lasted more than two years.
Alongside the Nigerian government, the International Finance Corporation (IFC), Standard Bank, British International Investment (BII), and Proparco have also committed to supporting the fund.
Kola Aina, Founding Partner of Ventures Platform, stated that the company aims to reach the final close of its VP Pan-African Fund II by the first quarter of 2026. The fund’s first close raised $64 million, making Ventures Platform one of the few African venture capital firms to close a fund this year.
The company plans to expand its investments across the continent, focusing particularly on building a strong presence in North Africa.
Having already invested in numerous fintech startups, Ventures Platform intends to continue supporting that sector while also exploring new opportunities in artificial intelligence, stablecoins, and trade formalisation.
Through this fund, the firm plans to make between 30 and 40 investments.