Capital Devt Fund Plans N500m Equity Investment For High-potential Startups
The Nigerian Capital Development Fund (NCDF), in partnership with the National Board for Technology Incubation and the London School of Social Enterprise and Sustainable Economics, has launched a call for applications for the Fortune Entrepreneur Accelerator, Summit, and Venture Capital Program.
This significant initiative aims to identify, nurture, and financially support Nigeria’s next wave of high-potential startups. The program focuses on strategic sectors such as agriculture, energy, fintech, healthcare, manufacturing, creative industries, and climate innovation, culminating in a national summit to be held in Benin City, Edo State, in September 2025.
At the heart of this program is the NCDF Opportunity Growth Fund, a specialized venture capital vehicle set to provide up to N500 million in equity investment to selected startups. This fund aspires to generate over $10 billion in long-term value, aligning with Nigeria’s objectives of wealth creation, youth empowerment, and fostering industrial innovation.
The NCDF executive chairman highlighted, “The Fortune Entrepreneur Programme transcends traditional startup support. It stands as a national platform aimed at building unicorn enterprises that can fuel Nigeria’s burgeoning innovation economy. With adequate support and capital, Nigerian entrepreneurs have the potential to establish companies that stand shoulder to shoulder with the world’s best.”
The program’s highlights include an intensive eight-week accelerator designed to deliver key benefits such as business development, compliance training, and investment readiness support. These elements are specifically tailored to equip startups with the essential tools and knowledge required to succeed and effectively scale their enterprises.
The Fortune Entrepreneur Summit, set to take place in Benin City, Edo State, September 2025, promises an array of engaging activities. Participants can look forward to live startup pitches, exhibitions, comprehensive masterclasses, and opportunities for investor engagement. Additionally, there will be access to venture capital funding and ongoing scale-up support from the NCDF Opportunity Growth Fund.
This ambitious initiative not only highlights the potential for entrepreneurial growth in Nigeria but also sets the stage for transformative developments across key industries. Entrepreneurs participating in the program are poised to embark on a journey of growth and innovation, with robust support and resources to help them achieve their goals.
The NCDF’s comprehensive approach to supporting startups emphasizes not just financial assistance, but also the provision of tools and resources that address critical areas of business development, ensuring that these startups are well-equipped to meet future challenges and market demands. As Nigeria continues to solidify its status as a hub of innovation and entrepreneurship, programs like the Fortune Entrepreneur Initiative will play a vital role in shaping its economic landscape.
