2025-04-08https://repository.covenantuniversity.edu.ng/handle/123456789/46127Venture Capital, over the past years have been on the increase in Nigeria and has become one of the most discussed philosophies in financial technology. It is believed that VC drives economic development as it involves bringing innovative technological ideas to light. Premised on this, this study examines the factors that influence venture capital activity in Nigeria. The study spans between 2003-2021, and employed a correlational research design as well as ARDL and Johansen cointegration methods of estimation to fulfil the objectives of the study. Findings reveal that unemployment, interest rate, innovation, patents and medium and high tech exports are key long run drivers of VC activity in Nigeria, while entrepreneurship, mergers and acquisition and government quality are short run drivers of VC activity in Nigeria. Also Inflation was found to have no significant effect on venture capital activity. Key recommendations as per the findings of this study, include the consideration of Islamic loans by venture capital firms amongst others.application/pdfHG Finance, HJ Public FinanceThesis