This paper investigated the relationship between funding/resource mobilization and capacity building programmes for knowledge creation among employees in tertiary institutions in Lagos State. The ex post facto research design was adopted for the study. The population of the study consists of all the teaching and non-teaching employees in all the four of the six tertiary institutions in Lagos State selected for the study. Fifty respondents randomly selected from each of the four tertiary institutions in Lagos State consisting of two hundred samples were used for the study. An instrument tagged "Funding Mobilization and Capacity Building Questionnaire" was used to collect data for the study. The data collected were analyzed using frequency counts, percentages, Pearson Product moment correlation coefficient and independent test. The results indicated that availability of capacity building programmes for employees in tertiary institutions in Lagos State are inadequate. It was also found that the level of funding/resource mobilization for the capacity building programmes for employees in tertiary institutions in Lagos State yearly are quite low. It was further revealed among other findings that a positive and significant relationship exists between funding/resource mobilization and the capacity building programmes for employees in tertiary institutions in Lagos State. Part of the recommendations made is that the Federal and State governments should allocate more funds to tertiary institutions in Lagos State, some of which should be utilised to organise more capacity building programmes for employees working in these institutions.