Founders Factory Africa rebrands to 54 Collective, a sector-agnostic VC firm
- Founders Factory Africa is rebranding as 54 Collective, a VC firm with a $40 million fund to invest in early-stage African ventures.
- Venture Capital inflows to African startups declined 31% in 2023 to $4.5 billion.
- 54 Collective joins a growing list of local investors like Partech that are stepping in to keep capital flowing to startups in Africa.
The rebranding of Founders Factory Africa as 54 Collective and their focus on investing in early-stage African ventures is a positive move for the African tech ecosystem. With the decline in Venture Capital inflows, the involvement of local investors like 54 Collective is crucial in filling the gap and supporting startups. The approach of taking a board seat in invested companies and providing non-dilutive capital shows a commitment to mitigating risks and supporting the growth of startups.
