Nigeria Sovereign Investment Authority seeks manager for $50m startup fund
The fund will target pre-seed to pre-Series A startups operating in agriculture, healthcare, education, energy, and waste and water management.
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The Nigeria Sovereign Investment Authority (NSIA) has invited expressions of interest from qualified firms for the provision of fund management services for the NSIA-Japan International Cooperation Agency (JICA) Impact Innovation Fund.
The NSIA-JICA Impact Innovation Fund is a $50 million onshore venture capital fund established to support early-stage Nigerian startups.
JICA has committed $14 million in grant funding, while NSIA is contributing up to $20 million as anchor investor on a matching basis.
The fund will target pre-seed to pre-Series A startups operating in agriculture, healthcare, education, energy, and waste and water management.
The selected fund manager’s mandate will include building a pipeline of investable startups, carrying out due diligence, structuring and managing investments, supporting portfolio companies, and managing reporting requirements.
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