Startup funding in Nigeria

500 Global (formerly 500 Startups) is a venture capital firm and startup accelerator supporting early-stage tech companies across the globe. With $2.3 billion in assets under management (AUM), the firm invests in founders with ambitious growth potential and provides hands-on mentorship, strategic resources, and a global network across 30+ countries. Focused on sectors and geographies primed for high-impact growth, 500 Global fosters entrepreneurial communities, making venture capital and expertise accessible in regions with untapped potential. Key Features: Global Reach: 500 Global invests across markets worldwide, with a particular focus on the U.S. and high-potential emerging markets. The firm leverages local expertise to drive rapid growth while maintaining a global perspective. Mentorship and Resources: Founders gain access to seasoned mentors, investors, and a comprehensive suite of resources aimed at scaling quickly in diverse markets. The firm’s deep local knowledge helps founders navigate complex ecosystems effectively. Community Building: By fostering networks of founders, investors, and operators, 500 Global cultivates sustainable entrepreneurial ecosystems, supporting startups from inception to global scalability. 500 Global’s mission is to unlock the potential of ambitious founders by providing a unique combination of capital, resources, and networking opportunities, empowering them to drive transformational growth on a global scale.

Business Support

The AFRIGREEN Debt Impact Fund is a €100 million investment fund managed by RGREEN INVEST, an independent French investment management company specializing in financing projects dedicated to the energy transition and climate change mitigation. Launched to support renewable energy initiatives in Africa, AFRIGREEN focuses on providing long-term debt solutions to projects involving solar, electricity storage, wind, biomass, and hybrid technologies. The fund aims to assist African small and medium-sized enterprises (SMEs) and small and medium-sized industries (SMIs) in reducing their energy costs and dependence on diesel, thereby facilitating a transition to green energy. AFRIGREEN offers long-term debt financing tailored to the needs of renewable energy projects in Africa. The fund provides financial support to commercial and industrial (C&I) companies for the development and implementation of renewable energy infrastructure, particularly solar photovoltaic installations. This financing aims to help businesses lower their energy expenses, decrease reliance on fossil fuels, and contribute to environmental sustainability. AFRIGREEN reached its final closing at €100 million on February 13, 2025. For information on potential future funding opportunities or collaborations, interested parties should contact the AFRIGREEN team directly.

Loans · $5

Founded in 2019 by Adesuwa Okunbo Rhodes, Aruwa Capital Management is a Lagos-based, female-founded and led growth equity and impact investment firm. It is one of the few women-owned private equity funds in Africa, focusing on investing in rapidly growing companies that provide essential goods and services to the female economy or are founded/co-founded by women or have gender-diverse teams.

Equity Investors · $500K - $2.5M

B54 is a financing institution dedicated to building an alternative and flexible source of funding for technology-driven businesses in Africa. Its mission is to finance businesses across all 54 African countries, with current operations in Nigeria, Francophone West Africa, and Liberia. B54 aims to expand its model of transaction-backed financing across emerging markets, focusing on empowering African businesses through innovative financing solutions. Recognizing that traditional funding is often difficult to access due to high costs or restrictive requirements, B54 seeks to bridge the financing gap for the broader market, providing businesses with the support they need to thrive.

Loans

Kepple Africa Ventures is a venture capital firm focused on investing in early-stage startups with roots in Kenya and Nigeria, with the mission of "creating new industries in Africa." As Africa experiences rapid innovation and the emergence of new industries, Kepple Africa Ventures supports local startups by providing capital and fostering collaborations between African and Japanese companies. This approach aims to build a robust platform for creating and expanding new industries both locally and globally. In February 2022, Kepple Africa Ventures established Verod-Kepple Africa Ventures (VKAV), a joint venture with Verod Capital Management, a Nigerian private equity fund, to form a new fund and expand its investment activities across Africa. Kepple Africa Ventures primarily provides Seed and pre-Series A funding, typically investing between $100,000 and $150,000 in early-stage technology startups. Their equity investments target innovative companies in sectors such as fintech, healthtech, agritech, and e-commerce. In addition to financial support, Kepple Africa Ventures offers strategic guidance and access to a global network, helping startups scale and grow within the African market and beyond.

Equity Investors · $100K - $150K

Established in 2006, the Mastercard Foundation is a global foundation committed to advancing education and financial inclusion to catalyze prosperity in developing countries. The Foundation's Fund for Resilience and Prosperity (FRP) is a seven-year, US$126 million initiative aimed at supporting Small and Medium-sized Enterprises (SMEs) across agriculture, climate impact, digital economy, and health sectors in 20 countries within Sub-Saharan Africa. The primary objective is to unlock enterprise growth, thereby creating dignified and fulfilling work opportunities for young women and men, including those with disabilities and refugee youth. Application deadlines vary depending on specific calls for proposals. For instance, the Agribusiness Challenge Fund was launched in April 2024, targeting SMEs in the agriculture sector. Applicants are encouraged to regularly check the FRP website for the latest information on open calls and submission deadlines.

Grants · $500K

Mirepa Global provides critical support to small and medium enterprises (SMEs) in Africa through business coaching, investment readiness programs, and capital access, aiming to drive social and economic impact. Operating in Ghana, Nigeria, Ethiopia, and the U.S., Mirepa specializes in sectors such as agribusiness and technology, equipping SMEs with the resources needed to grow and scale sustainably. Mirepa Global’s Approach and Commitments: Sustainable Job Creation: Mirepa’s interventions are designed to create sustainable jobs that fuel economic growth in underserved communities. Climate-Conscious Growth: The organization emphasizes sustainable business practices to minimize environmental impacts, promoting climate-conscious growth. Support for Female-Led Enterprises: Mirepa is committed to supporting female-led and female-owned businesses, as well as initiatives that predominantly benefit women, fostering inclusivity and gender equity. Impact-Driven Multinational Brands: The organization focuses on building large-scale brands that deliver social impact and drive economic transformation. The Mirepa team consists of experienced founders, development consultants, and impact investors with a longstanding history of building, supporting, and investing in African businesses. Through partnerships with like-minded organizations, Mirepa delivers development programs and investment vehicles that empower impact-driven entrepreneurs. By leveraging a private equity model, Mirepa deploys patient capital to address the "missing middle" funding gap, enabling impactful growth for SMEs across the continent.

Business Support

Unconventional Capital (Uncap) is dedicated to fueling the growth of early-stage businesses in Africa by providing alternative financing solutions. Their mission is to democratize access to capital for entrepreneurs who may not have traditional collateral or extensive credit histories, thereby fostering inclusive economic development. ? Uncap offers Revenue-Based Financing (RBF), injecting capital into businesses which is then repaid through a predetermined percentage of monthly revenue until a fixed amount is reached. This approach aligns the investor's success with the business's performance, sharing both risks and rewards. Investment amounts range from €20,000 to €100,000.

Loans · $20K - $100K