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 Africa Enterprise Challenge Fund (AECF) is a leading non-profit development organization dedicated to supporting innovative enterprises in the agribusiness and renewable energy sectors. AECF’s mission is to reduce rural poverty, promote resilient communities, and create jobs. By catalyzing the private sector, AECF brings forth and commercializes new ideas, business models, and technologies aimed at increasing agricultural productivity, improving farmer incomes, expanding access to clean energy, reducing greenhouse gas emissions, and enhancing resilience to climate change. AECF specializes in financing high-risk businesses that face challenges in accessing commercial funding. The organization is committed to working in frontier markets, fragile contexts, and high-risk economies—regions often neglected by mainstream financing institutions. Through its efforts, AECF plays a critical role in fostering economic development in some of the world’s most vulnerable areas.

Grants · $250K - $1.5M

The Jack Ma Foundation, established by Alibaba Group founder Jack Ma in 2014, focuses on philanthropic initiatives in education, entrepreneurship, women's leadership, and environmental protection. The Africa Netpreneur Prize Initiative (ANPI) is the foundation's flagship program in Africa, aiming to identify and support the continent's entrepreneurial talent. Additional Benefits: Finalists receive access to mentorship from industry experts and opportunities to connect with potential investors and partners. The competition provides a platform for entrepreneurs to gain international exposure, enhancing their credibility and attracting further opportunities. ANPI finalists benefit from significant media attention, helping to raise the profile of their businesses across the continent and beyond.

Grants

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 · $5M - $15.0M

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

The Autodesk Foundation's mission is to support innovative solutions addressing the world's most pressing social and environmental challenges. The Foundation works across five continents, providing its portfolio of partners with grants, impact investments, Autodesk software, and in-kind support, all aimed at driving meaningful and sustainable change.

Grants · $100K - $1000K

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

develoPPP is a funding program initiated by the German Federal Ministry for Economic Cooperation and Development (BMZ), designed for companies seeking to invest sustainably in developing or emerging countries while expanding their local operations. The program offers technical and financial support of up to 2 million euros for eligible projects. To qualify for funding, companies must demonstrate a long-term business interest in the target country and a sustainable developmental benefit for the local population. Whether the goal is to train local professionals or improve environmental and social standards within the supply chain, or if there is an innovative business idea that can contribute positively to the United Nations' Sustainable Development Goals, develoPPP offers an opportunity to become part of its success story.

Grants · $100K - $2M

The Global Innovation Fund (GIF) is a non-profit, impact-first investment fund headquartered in London, with offices in Washington, D.C., Nairobi, and Singapore. GIF invests in the development, rigorous testing, and scaling of new products, services, business processes, or policy reforms that offer more cost-effective solutions than current practices and aim to improve the lives of the world's poorest populations. Through grants and risk capital, GIF supports breakthrough innovations from for-profit companies, non-profit organizations, researchers, and government agencies to maximize impact and catalyze meaningful change. With an open call for innovative ideas, GIF invites proposals from anyone, anywhere, to identify solutions that address critical global development challenges.

Grants · $100K - $15.0M

About Funding Organization: Established in 1970, IDRC is a Canadian Crown corporation that funds research and innovation within and alongside developing regions to drive global change. IDRC supports researchers and institutions in the Global South to find solutions to pressing challenges, aiming to promote growth, reduce poverty, and drive large-scale positive change. Application deadlines vary depending on the specific call for proposals. Interested applicants should regularly consult the IDRC funding page for open calls and specific application guidelines. Each call for proposals provides detailed instructions on submission requirements, evaluation criteria, and deadlines. Applications typically involve submitting an expression of interest or a full proposal, depending on the stage of the call. Prospective applicants are encouraged to sign up for funding alerts to receive notifications about new opportunities. Additional Benefits: IDRC offers support to strengthen the research and innovation capacities of institutions and researchers in developing countries. Grantees become part of a global network of researchers and institutions, facilitating collaboration and knowledge sharing. IDRC-funded research often contributes to policy development and implementation, addressing critical development challenges.

Grants

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

The Roddenberry Foundation is committed to advancing the legacy of Gene Roddenberry, creator of Star Trek, by supporting innovative thinking, original ideas, and extraordinary individuals who can change the world. The Foundation focuses on initiatives that challenge existing dynamics and promote a more equitable and harmonious society. ? The Catalyst Fund provides grants ranging from $2,500 to $15,000 to support early-stage ideas or projects addressing pressing global challenges. These grants are designed to help launch or prove the viability of innovative solutions that have the potential for significant impact. ? The Catalyst Fund supports projects that introduce fresh approaches or strategies that build upon and improve existing solutions.? Solutions must address significant issues with the potential to affect a large segment of the population.? Additionally, teams must be experienced and demonstrate an understanding of the communities served, with active engagement and sustainable solutions.?

Grants · $3K - $15K

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