This alliance combines AVCA's two decades of experience in industry advocacy, market research, and investor engagement with PEVCA's deep-rooted local networks and specialized expertise within the Nigerian market. The unified organization aims to accelerate private sector growth, further develop Nigeria's burgeoning venture capital (VC) landscape, and channel both domestic and international capital into crucial sectors such as technology, infrastructure, and agriculture.
The announcement coincides with the release of a joint Nigeria Factsheet, underscoring the nation's prominent position in West Africa's private capital market. The data reveals that Nigeria accounted for a substantial 66% of deal volume and 52% of deal value within the region between 2020 and 2024. Furthermore, the factsheet highlights Nigeria's dominant role in Africa's venture capital arena, representing 19% of the continent's VC deals and being home to five of its coveted unicorn companies.
Against this backdrop of Nigeria's strong private capital performance, the merger is strategically positioned to foster deeper collaboration between local and international investors. This enhanced cooperation is expected to be a significant catalyst for driving innovation and fostering long-term economic growth within the country and the wider region.
According to both organizations, the newly merged entity will provide more tailored and effective support for fund managers operating in Nigeria. It will also strengthen engagement with key policymakers and influential institutional investors, while actively facilitating greater cooperation and deal flow between domestic and foreign capital providers. The organizations further emphasized the significant untapped potential within Nigeria's rapidly growing pension assets, which currently exceed N18 trillion ($20 billion), representing a vast pool for private capital mobilization.
As part of the integrated structure, Anna Evi-Parker will continue in her role as Executive Secretary of PEVCA and will also assume the position of Regional Head of West Africa within AVCA’s senior leadership team, ensuring continuity and leveraging her local expertise.
Commenting on this pivotal development, Paul Botha, Chair of the AVCA Board and Partner at Metier, stated, “This strategic merger signifies an important leap forward as we combine AVCA’s established industry position with PEVCA’s invaluable local insights to promote the interests of private capital stakeholders in Nigeria and beyond. We look forward to working with the PEVCA leadership to support Nigeria’s growth as a leading investment destination on the continent.”
Dr. Yemi Osindero, Managing Partner at Uhuru Investment Partners, also conveyed his optimism regarding the strategic partnership's potential. He described it as a "pivotal moment for Nigeria’s private capital ecosystem," adding, “This merger allows us to build on the unique strengths of AVCA and PEVCA to deliver better value for investors, fund managers, and the wider industry.”
Abi Mustapha-Maduakor, CEO of AVCA, further elaborated on the significance of the merger, saying, “Nigeria plays a central role in Africa’s investment story, and this merger allows us to work more systematically with local actors to deepen engagement and deliver targeted support. By combining AVCA’s insights, research, and convening power with PEVCA’s on-the-ground presence and network, we are better positioned to catalyse private capital that meets the region’s needs—from infrastructure to industrial development and innovation.”
AVCA is a prominent pan-African community encompassing capital allocators, investors, fund managers, advisors, entrepreneurs, and professional services, all united by a shared vision of a prosperous, sustainable, inclusive, and innovative Africa. PEVCA serves as the leading industry and advocacy body dedicated to promoting the growth and development of private equity and venture capital within Nigeria. The merger of these two influential organizations is widely viewed as a decisive and strategic step towards aligning local expertise with continental ambitions, ultimately driving sustainable and long-term economic growth across the African continent.