Capital Devt Fund Plans N500m Equity Investment For High-potential Startups

The Nigerian Capital Development Fund (NCDF), in collaboration with the National Board for Technology Incubation and the London School of Social Enterprise and Sustainable Economics, has announced a call for applications for the Fortune Entrepreneur Accelerator, Summit, and Venture Capital Program.

This transformative initiative, culminating in a national summit in Benin City, Edo State in September 2025, aims to identify, develop, and fund Nigeria’s next generation of 1,000 high-potential startups across strategic sectors, including agriculture, energy, fintech, healthcare, manufacturing, creative industries, and climate innovation.

At the core of the programme is the NCDF Opportunity Growth Fund, a dedicated venture capital vehicle that will provide up to N500 million in equity investment to selected startups. The fund aims to generate over $10 billion in long-term value, supporting Nigeria’s goals of wealth creation, youth empowerment, and industrial innovation.

The executive chairman of NCDF, Hareter Oralusi stated, “the Fortune Entrepreneur Programme is more than just a start-up support initiative; it is a national platform designed to build unicorn enterprises that will drive Nigeria’s innovation economy. With the right support and capital, Nigerian entrepreneurs can develop companies that rival the best in the world.”

He added, “highlights of the programme include an eight-week accelerator that offers key benefits for participating startups such as business development, compliance training, and investment readiness support. These benefits are designed to equip startups with the necessary tools and knowledge to succeed and scale their businesses effectively.”

The Fortune Entrepreneur Summit in Benin City, Edo State, scheduled for September 2025, will feature live startup pitches, exhibitions, masterclasses, and investor engagement, as well as access to venture capital funding and long-term scale-up support from the NCDF Opportunity Growth Fund.