In a bold move to drive economic innovation and entrepreneurship, the Nigerian Capital Development Fund (NCDF) has unveiled plans to invest up to N500 million in equity through a new venture capital initiative targeting high-potential startups across Nigeria.
The investment is part of the Fortune Entrepreneur Accelerator, Summit, and Venture Capital Program, a collaborative effort involving the National Board for Technology Incubation and the London School of Social Enterprise and Sustainable Economics.
The initiative aims to identify, develop, and fund 1,000 innovative startups operating in strategic sectors such as agriculture, energy, fintech, healthcare, manufacturing, creative industries, and climate innovation.
According to the NCDF, the programme will culminate in a national entrepreneurship summit to be held in Benin City, Edo State, in September 2025. The summit will feature live startup pitches, exhibitions, investor roundtables, and networking opportunities to connect founders with vital capital and mentorship.
At the heart of the initiative is the NCDF Opportunity Growth Fund, a venture capital vehicle designed to create more than $10 billion in long-term value by backing businesses that can scale nationally and globally.
“The Fortune Entrepreneur Programme is more than just a startup support initiative; it is a national platform designed to build unicorn enterprises that will drive Nigeria’s innovation economy,” said Hareter Oralusi, Executive Chairman of NCDF.
“With the right support and capital, Nigerian entrepreneurs can develop companies that rival the best in the world.”
The programme will kick off with an eight-week accelerator, offering participants hands-on support in business development, regulatory compliance, and investment readiness. These sessions are structured to help startups sharpen their growth strategies and become more attractive to investors.
Startups selected for the accelerator will have access to a wide range of support services including mentoring, pitch training, strategic partnership opportunities, and a potential share in the N500 million equity fund.
The Fortune Entrepreneur Summit in Benin will serve as the flagship event of the programme, expected to attract venture capital firms, angel investors, policymakers, and industry stakeholders, all focused on advancing Nigeria’s next generation of economic leaders.
