The Bank of Industry (BOI), the implementing agency for the Investment in Digital and Creative Enterprises (iDICE) Programme of the Federal Government of Nigeria has appointed Kuramo Capital Management as Fund Manager of the DICE Fund of Funds.
The contract signing ceremony between BOI’s Managing Director and the Chief Executive of Kuramo Capital, marks a pivotal milestone in Nigeria’s accelerating commitment to empowering its technology and creative entrepreneurs.
The DICE Fund of Funds is structured to achieve a minimum total capitalisation of $170.6 million, with the Federal Government contributing an anchor commitment of $85.3 million through the iDICE Programme.
Kuramo Capital is mandated to raise matching private-sector capital on a dollar-for-dollar basis. This represents one of the largest dedicated government investments in technology and creative sector startups in African history.
The iDICE Programme represents the Federal Government of Nigeria’s most ambitious intervention in the digital economy and creative sectors. Co-financed by the African Development Bank (AfDB), Agence Française de Développement (AFD), and the Islamic Development Bank (IsDB). The programme was designed with a clear mandate: to promote entrepreneurship, drive innovation, create jobs at scale, and position Nigeria as Africa’s leading hub for the knowledge economy.
iDICE is implementing its investment mandate through a suite of complementary funds. In November 2025, the Programme achieved a landmark first milestone when it made Nigeria’s inaugural direct government investment into a private venture capital fund — a cornerstone commitment to Ventures Platform’s VP Pan-African Fund II, which closed at $64 million with co-investors including the International Finance Corporation (IFC), British International Investment (BII), Standard Bank of South Africa, and Proparco.
The signing of the DICE Fund of Funds contract with Kuramo Capital is the latest in a series of significant milestones being delivered across the iDICE Programme. As of June 2026, implementation is well advanced on all three programme pillars — skills and enterprise development, access to finance, and ecosystem enablement — with activities running in all six geopolitical zones.