As part of the many efforts of the Federal Government of Nigeria to encourage and support small and medium scale enterprises (SMEs) in Nigeria, the Federal Ministry of Finance has established a Venture Capital Fund called the YouWiN! SME Growth Fund. The Fund is created to assist SMEs needing finance for expansion and growth. It is expected viable SMEs that are supported by the Fund will create employment opportunities and contribute to growing Nigeria’s GDP.
Viable SMEs will be able to access investment funding of between N25m to N45m on average, to support their start-up, early stage and mid to longer term growth plans.
The Fund will be institutionalized to focus on SMEs with the potential to engender innovation, generate good returns on investment, create jobs, promote entrepreneurship, and contribute to social development.