LAGOS, June 30 – Nigeria’s Bank of Industry (BOI), the implementing agency for the Investment in Digital and Creative Enterprises (iDICE) Programme of the Government of Nigeria has appointed Kuramo Capital as the Fund Manager of the DICE Fund of Funds, a US$170.6 million initiative designed to strengthen venture capital financing for technology and creative enterprises across Nigeria.
The appointment marks a key milestone in the implementation of the fund, which aims to mobilise greater private investment into Nigeria’s innovation ecosystem by supporting venture capital funds that invest in high-growth startups.
According to a statement issued by the Bank of Industry, the partnership is intended to accelerate access to finance for entrepreneurs while fostering innovation and long-term economic growth.
The bank said, “Together, we’re expanding access to finance, supporting innovation, and empowering the next generation of entrepreneurs.”
The DICE Fund of Funds is expected to play a strategic role in addressing the financing gap facing early-stage technology and creative businesses, sectors that have become increasingly important contributors to Nigeria’s digital economy, job creation and export potential.
By appointing Kuramo Capital to manage the fund, the Bank of Industry is seeking to leverage the firm’s investment expertise to channel capital into venture funds capable of identifying and scaling promising Nigerian startups.
The initiative also aligns with Nigeria’s broader ambition to strengthen its entrepreneurial ecosystem, attract private capital and position the country as one of Africa’s leading hubs for technology, innovation and the creative economy.
