UTICA Capital Limited has unveiled a N20 billion closed-ended venture capital fund aimed at reducing the N200b fund gap in Nigeria’s film industry. The venture capital is registered with and approved by the Securities and Exchange Commission (SEC) of Nigeria. At the launching of the initial N5 billion tranche of Series 1 of the Utica Film Fund, the firm’s Chairman, Dr Adesegun Akin-Olugbade stressed that the fund was not released for charity but to strengthen the competitiveness of the country’s film industry at the global level. He lamented that the country’s film industry has suffered underfunding, stressing that the newly launched fund would open doors for investors to invest in the film industry. Importantly, Utica Capital will invest alongside our partners, ensuring our interests remain fully aligned with yours,” he said.