• Strategic merger combines AVCA’s research and convening power with PEVCA’s deep local networks to support fund managers and investors.
• The merger connects international finance and domestic finance – deepening the financial sector in Nigeria and West African markets.
• Anna Evi-Parker, Executive Secretary of PEVCA, to join AVCA’s senior leadership team as Regional Head, West Africa

AVCA – the African Private Capital Association – and the Private Equity and Venture Capital Association, Nigeria (PEVCA), have announced a strategic merger to strengthen Nigeria’s private capital ecosystem.

The merger reflects a joint ambition to catalyse new investment opportunities and boost sub-regional and continent-wide growth.

The merger combines AVCA’s 20-year track record of industry advocacy, market intelligence, research, and convening power with PEVCA’s extensive networks and local expertise. The partnership demonstrates a shared commitment to promote private sector growth, the position of Nigeria’s venture capital (VC) ecosystem, and the potential for domestic capital to crowd in strategic areas such as technology, infrastructure, agriculture, and more.

The announcement comes ahead of the 21st Annual AVCA Conference in Lagos (28 April – 2 May), themed Bold Moves: Powering 10x in Africa.

The conference returns to Nigeria for the first time in 11 years, accompanied by AVCA’s newly released Nigeria Factsheet which reveals the country’s leading position in West Africa––securing 66% of regional deal volume and 52% of deal value between 2020 and 2024.

As Africa’s most active venture capital market – accounting for 19% of the continent’s VC deals and home to five unicorns – Nigeria presents a dynamic backdrop for conversations and collaboration to drive innovation and investment in Africa.

This partnership will provide more tailored support for fund managers, increase engagement with policymakers and institutional investors, and enhance cooperation between local and international finance in Africa.

In Nigeria alone, the country’s pension fund assets have surpassed ₦18 trillion ($20bn), highlighting the untapped potential of domestic capital.

By combining AVCA’s robust data, research, and investor engagement with PEVCA’s strong network and proximity to government, the merger strengthens efforts to prepare the ground to advance Nigeria and the broader sub-regions private capital ecosystem.

As part of the merger, Anna Evi-Parker will assume a combined role, maintaining her position as Executive Secretary of PEVCA while also serving as regional head of West Africa within AVCA’s senior leadership team.

Paul Botha (Metier), Chair of the AVCA Board, said:

“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, Uhuru Investment Partners, said:

“We are optimistic about the opportunities presented by this strategic partnership, and I am delighted to witness this pivotal moment for Nigeria’s private capital ecosystem. 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, added:

“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. It’s a decisive step towards aligning local and continental efforts to deliver sustainable, long-term growth.”

The inaugural event is scheduled for June 9th, 2023, in the heart of Texas. Attendees can look forward to a unique and intimate setting where they can connect with like-minded professionals in the African venture capital community. 

They will also have the opportunity to engage in candid discussions and gain insights from industry leaders first-hand experiences.

With record acquisitions, soaring valuations, and growing interest from allocators in venture capital in Africa, now is the perfect time for a dedicated event focused on the continent’s venture capital industry.

The summit aims to offer valuable insights into the specific opportunities and challenges presented by seed, early-stage, and growth investing in Africa. Attendees will also have the chance to connect with general and limited partners who will be essential to their long-term success in this unique asset class.

The conference has been carefully curated to attract 300 high-profile attendees, including general partners from emerging and established VC funds, LPs actively looking to invest in venture capital, and relevant industry advisors.

Non-fee-earning limited partners who qualify can attend the event for free. To qualify for a complimentary ticket, non-fee-earning LPs must be from a pension, endowment, foundation, or single-family office with an investing role only and allocate their organization’s capital as a limited partner in private equity or alternative investment fund managers.

It’s important to note that the approval for complimentary tickets for non-fee-earning LPs is at the organizer’s discretion.

Visit africavcsummit.com to request an invitation.

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