Chocolate City announces $250 000 founders fund and incubator

The Nutrybe Academy will train producers, creative directors and lawyers, selecting 10 applicants to be paired with mentors. The Founders Fund, launching in early 2025, will offer up to $250 000 in financial support to entertainment entrepreneurs, with a focus on women.

“Our Founders Fund is engineered towards providing opportunities for young people and companies wishing to enter the creative space,” Chocolate City co-founder Paul Okeugo said. “Chocolate City has itself benefited from a lot of support in its years of growth. It is [therefore] important for us to give back to our community and help drive more success among our young entrepreneurs.”

“In most parts of Africa, the movie industry is run by women, but the music industry isn’t,” Chocolate City other co-founder Audu Maikori told LA Weekly separately during this year’s BET Awards weekend that also kicked off Chocolate City’s 20th anniversary. “The future means collaboration and that’s why we’re here.”

Founded in 2005 and headquartered in Lagos, the company also has operations in Kenya, South Africa, the UK and US. The label, currently led by CEO Abuchi Peter Ugwu, is home to pop and hip hop acts including Young Jonn, Bleakz and Blaqbonez. Behind some 25 hip hop albums, Chocolate. City is also credited for springboarding the careers of MI Abaga, Jesse Jagz, Ice Prince and Brymo, as well as Pryse, Nosa and Dice Ailes, among others.

In 2019, Chocolate City partnered with Warner Music Group, which stated the deal would “dramatically grow the reach of African artists around the world and create new opportunities for global superstars in the region.”

In March, the company announced the addition of emerging pop act Tar1q to its roster, a move it noted “marks a significant journey for both Tar1q and Chocolate City as we embark on an exciting journey together, pushing the boundaries of creativity and musical innovation.”