Aduna Capital Launches USD 20 M Fund To Invest In Northern Nigeria And Africa.

Nigerian venture capital firm, Aduna Capital has today announced the launch of a USD 20 M fund. The fund will invest 55.5% of its capital in startups in Northern Nigeria, with the rest split between other regions of the country and Africa. The fund also aims to get 50% female representation in the startups it backs.

Aduna Capital is dedicated to discovering and nurturing early-stage, tech-enabled start-ups across Africa, with a special focus on empowering female founders and start-ups in underserved regions like Northern Nigeria. The firm aims to unlock the vast potential of these entrepreneurs, driving innovation and sustainable growth across the continent. The fund will allocate 25% of its investments to start-ups in the rest of Nigeria and another 25% across the African continent.