The African Private Capital Association (AVCA) and the Private Equity and Venture Capital Association of Nigeria (PEVCA) have announced a major merger aimed at strengthening Nigeria’s private capital ecosystem and opening new investment opportunities across critical sectors.

The move brings together AVCA’s two decades of experience in industry advocacy, research, and investor engagement with PEVCA’s strong local networks and deep market knowledge.

Together, they aim to drive private sector growth, expand Nigeria’s venture capital landscape, and channel more domestic investment into areas such as technology, infrastructure, and agriculture.

The announcement comes alongside the release of AVCA’s Nigeria Factsheet, which shows Nigeria’s leadership in West Africa’s private capital market, accounting for 66% of deal volume and 52% of deal value between 2020 and 2024.

The report also highlights Nigeria’s commanding role in Africa’s venture capital industry, representing 19% of the continent’s VC deals and being home to five unicorn companies.

The merger is expected to encourage closer collaboration between local and international investors, helping to drive innovation and long-term economic growth.

According to both organisations, the integration will allow for more customized support for fund managers, stronger engagement with policymakers and institutional investors, and tighter cooperation between domestic and foreign capital providers.

They also noted that Nigeria’s growing pension assets, now exceeding N18 trillion ($20 billion), present a major opportunity for private capital mobilisation.

As part of the new structure, Anna Evi-Parker will continue as Executive Secretary of PEVCA while also stepping into a broader role as Regional Head of West Africa within AVCA’s senior leadership.

Paul Botha, Chair of the AVCA Board and Partner at Metier, welcomed the development, saying: “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 praised the partnership, saying: “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.”

CEO of AVCA, Abi Mustapha-Maduakor, emphasized Nigeria’s central role in Africa’s investment future, 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 community of capital allocators, investors, fund managers, advisors, entrepreneurs, and professional services committed to building a sustainable, inclusive, and innovative Africa.

PEVCA serves as the main advocacy body for private equity and venture capital in Nigeria.

Their merger marks a decisive step towards aligning local expertise with broader continental ambitions to drive sustainable, long-term economic growth across Africa.