Nigeria launched a $618 million tech fund under the Investment in Digital and Creative Enterprises (iDICE) to support tech and creative sectors for young investors who struggle to raise capital in Africa’s largest economy.
Vice President Yemi Osinbajo launched the $618 million fund in Abuja on March 14. iDICE, which is targeted towards 15 to 35-year-olds, comes at a time when there are concerns locally about the failure of U.S. startup-focused lender SVB Financial Group, which has supported startups in Nigeria.
This is a step in the right direction!