Utica Capital Launches N20 Billion Venture Fund to Transform Nollywood Financing
- Utica Capital unveiled a N20 billion venture capital fund to support Nigeria's Nollywood industry.
- The fund is the first SEC-approved specialized Venture Capital Fund for the film industry in Africa.
- An initial N5 billion tranche has been released to kickstart the fund's activities.
The establishment of the Utica Film Fund is a significant step towards professionalizing investment in Nollywood, which has historically struggled with funding. This initiative not only promises to enhance the industry's financial landscape but also positions Nollywood as a key player in the global entertainment market. However, careful monitoring of governance and potential conflicts of interest will be crucial for its success.
