To successfully expand their business activities in overseas markets, small- and medium-sized enterprises (SMEs) must first acquire a thorough knowledge and understanding of prevailing environmental and market conditions. This study examines the crucial role that a learning orientation can play in the generation of relevant foreign market knowledge. It also investigates the impact of foreign market knowledge on strengthening internationalizing SMEs’ operational adjustment agility and market capitalizing agility, which in turn enhance firms’ international venture performance. Our empirical effort is based on data collected from 209 Nigerian industrial SMEs which internationalize their efforts. To test our research model and hypotheses we collected data by means of a survey conducted among Nigerian small- and medium-sized firms (i.e., employing 250 or less people) which internationalize their efforts and launch their products in B2B markets. The positive role of learning orientation, foreign market knowledge and organizational agility is confirmed by our results on driving international venture performance.