The Minister of Communication has announced that it has secured $16m of Venture Capital Funds for Startups in Nigeria. This is good news for many Startups in the technology space in Nigeria looking for funds to scale up. Here is what she said;
“Government recently launched the Venture Capital initiative, which has been seeded and we were able to raise about $16. 2 million and we are ready to make our first investment and these companies (startups) can participate. They can obtain venture fund here, but it is not only companies from the IdeasLab, any viable startup can actually apply and if they meet the requirement, they will get funding.”
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