54 Collective To Shut Down Venture Studio in Africa
- 54 Collective will shut down its venture studio operations in Africa after April 30, 2025.
- The firm has backed over 40 startups and created more than 17,500 jobs through its programs.
- The Mastercard Foundation has been a key funding partner for 54 Collective.
The shutdown of 54 Collective's venture studio operations highlights the challenges faced by venture firms in securing sustainable funding, especially in the African market. This could have significant implications for the startup ecosystem in the region, as the loss of support from such organizations may hinder innovation and job creation. It is crucial for stakeholders to explore alternative funding models to ensure the continuity of support for emerging businesses.
