Chocolate City Launches $1 Million Founders Fund to Empower Nigeria’s Creative Startups
Leading Nigerian entertainment powerhouse, Chocolate City Group, has launched a $1 million Founders Fund to support creative startups in film, music, and creative technology across Nigeria.
The new fund, unveiled during the label’s 20th Anniversary Celebration in Lagos, is designed to tackle one of the biggest challenges in Nigeria’s fast-growing creative sector — access to capital and business mentorship.
Implemented in partnership with Co-Creation Hub (CcHub), Africa’s leading innovation centre, the fund will provide equity financing and operational support to early-stage entrepreneurs shaping the future of Nigeria’s creative economy.
Financing Creativity: A New Frontier for Nigeria’s Creative Economy
The Minister of Arts, Culture, Tourism and Creative Economy, Hannatu Musawa, commended Chocolate City’s initiative, describing it as a model for private-sector participation in cultural and creative development.
“Nigeria’s creative industries have the potential to drive economic diversification and youth empowerment,” Musawa said.
“What entrepreneurs need are partners who understand both the creative and commercial dimensions of this business. Chocolate City’s Founders Fund demonstrates the leadership we need from successful Nigerian companies.”
With Nigeria’s entertainment industry already contributing billions to GDP and employing thousands of young people, the fund represents a strategic investment in creativity as an engine of national growth.
Building Creative Businesses That Last
Audu Maikori, Chairman and Co-founder of Chocolate City, said the Founders Fund emerged from lessons learned in the company’s two-decade journey as a pioneering African record label and entertainment brand.
“The reality is that traditional financial institutions struggle to understand creative businesses,” Maikori explained.
“Young entrepreneurs with genuine potential often get stuck because investors demand quick returns. This fund offers patient capital from people who have built sustainable creative companies in this market.”
The initiative will prioritize startups that combine artistic excellence with sound business models, focusing on founders who demonstrate discipline, creativity, and long-term vision.
Beyond Capital: Mentorship, Structure, and Sustainability
Paul Okeugo, Vice-Chairman of Chocolate City, emphasized that the fund goes beyond financial investment.
“Capital alone doesn’t build successful companies,” Okeugo said.
“We’re offering hands-on mentorship in rights management, contract negotiation, and sustainable business practices — the very structures that allowed us to remain independent while competing globally.”
By merging business mentorship with equity support, the fund aims to help creative entrepreneurs professionalize their operations, attract investors, and build globally competitive brands.
Partnership for Growth: Chocolate City x CcHub
Ojoma Ochai, Managing Director of Co-Creation Hub (CcHub), said the collaboration with Chocolate City combines deep industry knowledge with a proven innovation framework for scaling creative startups.
“CcHub brings the infrastructure and incubation expertise, while Chocolate City brings decades of experience in monetizing creativity. Together, we can help creative entrepreneurs grow sustainably,” Ochai stated.
Applications for the Founders Fund open this month, targeting startups that have demonstrated traction, clear revenue potential, and a commitment to sustainability over rapid expansion.
BRANDECONOMY ANALYSIS: Creative Capital Meets Business Strategy
Chocolate City’s $1 million Founders Fund represents a landmark intervention in Nigeria’s creative economy — signalling a shift from celebrity-driven artistry to structured entrepreneurship.
For years, access to capital has been a major bottleneck for creative startups. By combining funding with strategic mentorship, Chocolate City and CcHub are helping to bridge the gap between art and enterprise, nurturing a generation of creative founders who think like investors.
If successfully scaled, the Founders Fund could evolve into a blueprint for Africa’s creative financing ecosystem, where local investors back homegrown innovation in music, film, fashion, and digital storytelling.
BRANDECONOMY TAKEAWAY
With its Founders Fund, Chocolate City is proving that creativity and commerce can coexist — and thrive.
By investing $1 million into Nigeria’s creative future, the company is not only celebrating 20 years of legacy but also redefining how African creativity is financed, structured, and sustained.
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Chocolate City Group launches a $1 million Founders Fund in partnership with CcHub to finance and mentor creative startups in film, music, and technology across Nigeria.
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