The South East Development Commission (SEDC) has launched a new venture capital initiative designed to unlock funding for startups and accelerate innovation across Nigeria’s South-East region.
In a statement released by its media office, the commission said the South East Venture Capital Programme (SEVCP) aligns with the federal government’s Renewed Hope Agenda by promoting local financing and attracting sustained investment into high-growth sectors.
The initiative is part of SEDC’s broader development roadmap earlier presented to the House of Representatives Committee on South East Development, signaling a coordinated push to transform the region’s economic landscape.
According to the commission, the SEVCP is a structured, time-bound intervention aimed at strengthening the region’s digital, technology, and innovation ecosystem.
At its core is a venture capital fund expected to raise up to $50 million from a diverse pool of investors, including public institutions, development finance partners, diaspora contributors, and private sector players.
The fund will be managed through the South East Investment Company, SEDC’s wholly-owned investment vehicle, which will act as a limited partner to ensure professional oversight and compliance with global investment standards.
SEDC noted that while the South-East has long been known for its strong entrepreneurial spirit and skilled workforce, it has lacked a coordinated framework to attract and deploy large-scale investment.
The new programme is designed to bridge that gap by building a structured, investor-ready ecosystem.
The commission added that the SEVCP is a long-term strategy aimed at creating a steady pipeline of scalable startups, with plans to expand the programme in phases and support future cohorts over time.
