Balogun Harold Advises Consultants on $20 Million Naira-Denominated Venture Capital Fund for Nigeria’s Startup Ecosystem

Balogun Harold acted as a legal adviser to consultants supporting the Japan International Cooperation Agency (JICA)on the structuring of a Naira-denominated venture capital fund aimed at fostering the growth of Nigeria’s startup ecosystem.

The initiative represents a pioneering collaboration between the Nigerian government and JICA, designed to provide local-currency financing to early-stage technology companies, helping to mitigate foreign exchange risks while promoting innovation and entrepreneurship.

As part of our advisory role, our team provided comprehensive legal guidance on fund structuring and regulatory compliance, contributing to the successful design of a framework that enables both investors and startups to thrive within Nigeria’s evolving venture capital landscape.

This engagement underscores Balogun Harold’s expertise in venture capital, private equity, and cross-border advisory work, as well as our commitment to supporting innovative financial solutions that strengthen Nigeria’s technology and entrepreneurial ecosystem.

* In line with our Deal Announcement Policy, Balogun Harold will only announce completed deals when the client has approved public disclosure, on a non-attributable basis, or where the information is already publicly available.