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Expression of Interest for Provision of Fund Management Services for Nsia-Japan International Cooperation Agency (Jica) Impact Innovation Fund The Nigeria Sovereign Investment Authority is an investment institution established by the NSIA (Establishment, Etc) Act 2011 and co-owned by all the federating units of Nigeria. The Authority was established to achieve three broad mandates, which essentially are to: a. build a savings base for the Nigerian people b. enhance the development of Nigerian infrastructure, and c. provide stabilization support in times of economic stress. These mandates are to be achieved through the management and investment of three statutorily fixed and ring-fenced funds, via the Nigeria Infrastructure Fund, the Future Generations Fund, and the Stabilization Fund. 2. Project Overview * The NSIA-JICA Impact Innovation Fund (the Fund) is a strategic partnership between the Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA) to establish a US$50 million onshore venture capital fund investing in early-stage startups addressing critical social challenges in Nigeria. * Under the partnership, JICA has committed US$14 million in grant funding, with NSIA contributing up to US$20 million as anchor investor on a matching basis. The Fund targets pre-seed to pre-Series A startups operating in Agriculture, Healthcare, Education, Energy, and Waste & Water Management, deploying capital through equity and quasi-equity instruments including preferred equity, SAFE agreements, convertible notes, and venture debt. * The appointment of a qualified Fund Manager is a critical next step in operationalising the Fund. The Fund Manager will be responsible for building a robust investment pipeline, conducting due diligence, raising additional capital from co-investors, and ensuring alignment with the Funds impact-driven mandate under NSIAs oversight. 3. Scope of Services The scope of services includes but is not limited to: * Investment Pipeline Development: Building a robust pipeline of investment opportunities in target sectors (Agriculture, Healthcare, Education, Energy, and Waste & Water Management), prioritizing startups with high socio-economic impact potential. * Due Diligence and Investment Allocation: Performing comprehensive due diligence on prospective investees, assessing financial viability, operational capacity, and alignment with the Funds impact objectives. * Financial Oversight and Compliance: Managing the Funds financial operations, including capital calls, disbursements based on startup milestones, and compliance with NSIA and JICA reporting requirements. The Fund Manager will also maintain reserves for follow-on investments based on a combined top-down and bottom-up approach. * Collaboration with AAIC: Working closely with the grant aid consultant, Asia Africa Investment & Consulting (AAIC), to integrate impact measurement and management (IMM) frameworks, ensuring the Funds investments deliver measurable socio-economic benefits. * Strategic and Operational Management: Overseeing the Funds investment strategy, ensuring alignment with NSIA and JICAs objectives, and participating in the Funds investment committee alongside AAIC to make informed investment decisions. * Fund Formation and Structuring: Leading the establishment of the legal, financial, and governance foundation of the Fund, including appointing service providers such as legal counsel, fund administrators, and auditors, and negotiating fund terms including management fees, carried interest, and hurdle rate. * Investment Analysis and Execution: Conducing rigorous commercial, financial, and technical evaluation of prospective investments, including financial modelling, valuation, and assessment of management teams and governance structures. The Fund Manager will structure investment terms, present deals to the Investment Committee for approval, and execute all transaction documentation through to closing. * Portfolio Management and Value Creation: Providing active post-investment support to portfolio companies through board participation, strategic guidance, and operational assistance. This includes facilitating access to follow-on capital, strategic partnerships, and talent, as well as monitoring performance against agreed KPIs and milestones and intervening where necessary in underperforming assets. * Exit Strategy and Realization: Defining and executing exit pathways for portfolio investments, including trade sales, secondary sales, and other liquidity events, with a focus on optimizing returns to Limited Partners through disciplined timing and negotiation of exit terms. * Capital Allocation and Follow-On Strategy: Managing the pacing and deployment of capital across the Funds investment lifecycle, maintaining adequate reserves for follow-on investments, and optimizing portfolio construction to balance diversification with return potential. * Stakeholder and Ecosystem Management: Maintaining relationships with Limited Partners, co-investors, development finance institutions, and other ecosystem participants, including incubators and accelerators. This includes building the Funds reputation and market positioning, attracting co-investment opportunities, and engaging in relevant industry forums. Date Added: July 6, 2026 Deadline: 27/07/2026 Category: General Supplies & Services Tender Link : https://etenders.com.ng/nigeria-sovereign-investment-authority-expression-of-interest-eoi-for-provision-of-fund-management-services-for-nsia-japan-international-cooperation-agency-jica-impact-innovation-fund/
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