By Sandra Micheals
The South East Development Commission (SEDC) says it has formally launched the South East Venture Capital Program (SEVCP), marking a decisive step in advancing the Renewed Hope Agenda’s commitment to expand access to capital for startups and strengthen Nigeria’s investment landscape.
According to a statement from the Media Office of the Commission, the program represents a direct institutional response to the Federal Government’s commitment to expand access to local funding and attract sustained investment into high- growth sectors across South East Nigeria.
This according to the Commission, is part of its developmental initiative contained in the road map for the region that was presented to the House of Representatives Committee on South East Development.
According to the statement, at the core of the program is the South East Venture Capital Fund, a blended finance vehicle designed to mobilise up to 50 million dollars in public, institutional, development finance, diaspora, and private capital into the region.
The SEVCP represents a long-term commitment to building a structured and investable startup ecosystem in the South East.
The inaugural cohort will form the foundation of a pipeline that the Commission intends to scale over successive cycles.
