54 Collective, formerly Founders Factory Africa, plans to back early-stage African startups with $40M
- Founders Factory Africa rebrands as 54 Collective, a venture capital firm with a $40 million fund.
- 54 Collective plans to invest in 105 venture-bankable startups in five years.
- Venture capital inflows to Africa fell significantly by 31% in 2023.
The rebranding of Founders Factory Africa as 54 Collective and the establishment of a $40 million fund is a positive development for the African startup ecosystem. With the decline in venture capital inflows to Africa, 54 Collective's commitment to investing in early-stage startups and providing operational support is crucial for sustaining and fostering innovation in the region.
