Chapter 9 examines other forms of capital raising including private equity and venture capital in general and in Nigeria. The case for private equity as an alternative model of investing is predicated on addressing market failure, principal–agency problems and information asymmetry. Private equity is typically a form of capital committed over a medium term (5–7 years) in private companies. A private equity investment is typically made by a private equity firm, a venture capital firm or an angel investor. Private equity firms structure private equity investment like a collective investment club composed of funds from principal investors and institutional investors. The private equity funds directly invest in private companies, make acquisitions, engage in buyouts of public companies and so on. Private equity funds both domestic and local are actively investing in several sectors in Africa, and Nigeria is one of the key destinations for these funds. This chapter examines general issues in fund-raising, sourcing, due diligence, investing, risk factors, management fees, profit–loss allocations and exit strategies in a frontier market.