Utica Capital Limited has unveiled a N20 billion film fund to provide structured financing for Nigeria’s film industry, marking a historic milestone for Nollywood’s growth and global competitiveness.
The Utica Film Fund, approved by the Securities and Exchange Commission (SEC), is Nigeria’s first licensed venture capital fund dedicated to film production. It will finance projects at all stages, from preproduction to distribution, while offering strategic support and mentorship to filmmakers.
Speaking at the launch in Lagos, Chairman of Utica Capital Limited, Dr. Adesegun Akin-Olugbade, said the fund was designed to close Nollywood’s chronic funding gap and position it for global recognition. “This is not charity. This is smart investing, strong governance, and portfolio diversification. For the first time, institutional investors can confidently support Nollywood through a SEC-approved vehicle,” he said.
He added that Nollywood, one of Nigeria’s biggest cultural exports, attracts more than 35 million daily viewers worldwide but has long relied on personal savings and informal loans. The Utica Film Fund, he said, would bridge this gap, creating opportunities for world-class productions and sustainable growth.
Managing Director of Utica Capital Limited, Mr. Ola Belgore, explained that the fund targets commercially viable projects with strong storytelling and global market potential. The first tranche of N5 billion is already open for subscription, with a minimum investment threshold of N10 million for qualified investors. Rated A-, the fund is tailored for pension funds, insurance companies, and institutional asset managers.
Belgore noted that Nollywood, the world’s second-largest film industry by production, produces around 200 films annually and has the potential to create significant jobs and stimulate economic growth. “We are matching creativity with capital. This fund will spark a new golden era for Nollywood,” he said.
An Advisory Committee comprising industry leaders and cultural ambassadors, including Richard Mofe Damijo, Femi Adebayo, Omoni Oboli, and Sani Mu’azu, was inaugurated to guide the fund’s implementation.
Transaction partners include FSDH Capital, Emerging Africa, STL Trustees, CardinalStone, and First Bank of Nigeria, with ALR & Co as solicitors.
The fund will issue its first call for film proposals before the end of 2025, inviting Nigerian filmmakers to pitch projects for financing.
