FATE Foundation has partnered with Village Capital under the Africa Ecosystem Catalysts Facility (AECF) to accelerate the growth of early-stage entrepreneurs in Nigeria. This strategic collaboration aims to strengthen the country’s startup ecosystem by channeling capital and support to context-specific, high-impact ventures.
The AECF, a $4 million initiative backed by the Dutch Entrepreneurial Development Bank (FMO) and the Netherlands Enterprise Agency (RVO), is designed to support startups addressing local challenges around economic mobility and climate resilience in Nigeria, Ghana, and Tanzania.
As a newly appointed venture partner, FATE Foundation will leverage its extensive local experience to identify, evaluate, and support innovative Nigerian startups with scalable potential.
“This partnership reflects our shared mission to drive inclusive and sustainable economic growth by closing the capital access gap for early-stage businesses,” said Adenike Adeyemi, Executive Director of FATE Foundation.
Adeyemi emphasized the role of local Entrepreneur Support Organizations (ESOs) in ensuring that funding reaches startups offering locally relevant, sustainable solutions. She noted that placing ESOs at the center of the investment process boosts the overall effectiveness and relevance of the initiative.
“Our work will help direct catalytic capital to the right places while amplifying the AECF’s long-term impact on Nigeria’s entrepreneurial ecosystem,” she added.
Susan Nakami, Africa Region Lead at Village Capital, expressed confidence in the partnership.
“We’re excited to welcome FATE Foundation as a partner. Their strong track record and deep local insight are invaluable in channeling investment toward startups that can truly drive climate resilience and economic mobility across the region,” Nakami said.
With this collaboration, FATE Foundation reinforces its commitment to empowering entrepreneurs and strengthening Nigeria’s innovation economy—helping turn early-stage ideas into sustainable solutions for local and regional challenges.
