Chocolate City Founders Fund backs creative startups
Chocolate City Founders Fund launches $1m support for Nigerian creative startups, offering equity investment and expert mentorship in music, film, and tech.
Chocolate City Founders Fund has been officially launched as a $1 million initiative aimed at supporting creative startups across Nigeria, with a focus on music, film, and creative technology.
Also read: NACC Reacts to Tariff Increment With Strategic Trade Diversification Plan
Unveiled at the company’s 20th anniversary celebration in Lagos, the Chocolate City Founders Fund will offer both equity investment and strategic mentorship to early-stage businesses, helping address the capital and operational challenges many startups face in Nigeria’s creative economy.
The initiative is being delivered in partnership with Co-Creation Hub (CCHub), a leading innovation centre with a proven track record in startup development.
Speaking at the launch, the Minister of Arts, Culture, Tourism and Creative Economy, Hannatu Musawa, commended the effort as a powerful step forward.
“This fund demonstrates the leadership we need from successful Nigerian companies,” she said, highlighting the importance of private-sector investment in creative growth and youth employment.
Chairman of Chocolate City Group, Audu Maikori, said the fund was inspired by the company’s early struggles, stressing the need for patient capital tailored to the unique nature of creative ventures.
“Financial institutions struggle to understand creative businesses. We’re bridging that gap with capital from people who’ve built in this space,” he explained.
Vice Chairman Paul Okeugo emphasised that the support extends beyond funding.
“We’re offering hands-on mentorship in rights management, contract negotiation, and sustainable business practices,” he said.
Managing Director of CCHub, Ojoma Ochai, noted the importance of blending industry experience with structured startup support, stating,
“This partnership offers a full ecosystem for creative entrepreneurs to grow with purpose and resilience.”
Also read: Ice Prince Music Respect Demand Surfaces
Applications for the fund are set to open this month. Target recipients are startups with proven market traction, sound business models, and a commitment to sustainability and job creation.
