The special advisor to the Lagos state governor on innovation and technology, Olatunbosun Alake, says that the government is planning to launch its own venture capital fund that would write bigger equity cheques for Nigerian startups than most privately-owned VC.
Olatunbosun says the fund would be cross-sectoral including fintech, agriculture, health, and most importantly, research and development startups.
Alake didn’t reveal the size of the funds and the actual ticket sizes, but he mentioned that it would be launched a few weeks from now and the state is already in conversations with some local and foreign investors that would join as limited partners
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