Founders Factory Africa has changed its name to 54 Collective. With this rebrand, the VC intends to help startups grow their businesses and serve more countries on the continent.
The VC stated that it would prioritise support for transformative technology ventures on the continent through catalytic capital and value-add support through its Venture Success Platform. 54 Collective said in a statement that it will build on its track record of investing in and scaling early-stage ventures in Africa.
It aims to continue investing in ventures from idea to Pre-Series A stage by offering catalytic capital and value-add support through its Venture Success Platform.
Bongani Sithole, chief executive officer of 54 Collective, said, “Our catalytic capital and value-add support to founders, through our Venture Success Platform, signifies our evolution and ongoing mission to support entrepreneurs across Africa and enable them to build without boundaries to drive commercial and impact returns.
“Our name change to 54 Collective communicates our continued commitment to African founders. We are more supportive than ever of unlocking opportunities for entrepreneurs and ensuring a level playing field for youth and women founders.”
The VC noted that it offers equity and non-dilutive capital up to $500,000 and an additional $150,000 in non-dilutive capital to female founders.
The firm highlighted that it has helped more than 70 ventures across Africa and helped its portfolio startups to raise nearly $140 million in follow-on capital.
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