Founders Factory Africa (FFA), a prominent startup accelerator and venture capital firm, has rebranded to 54 Collective in a strategic move aimed at expanding its influence across the African continent. The rebranding marks a significant shift in the organization’s approach to supporting early-stage ventures, reflecting a broader, pan-African focus.
The newly named 54 Collective, which launched in 2018, has been instrumental in backing more than 55 startups across Africa, providing both capital and hands-on support. The firm’s rebranding signals a renewed commitment to fostering innovation and entrepreneurship across all 54 African nations.
Speaking about the rebrand, Bongani Sithole, CEO of 54 Collective, emphasized the company’s evolution, highlighting its commitment to providing catalytic capital and value-added support to entrepreneurs through its venture success platform.
“Our rebranding to 54 Collective reflects our unwavering dedication to African founders,” Sithole stated. “We remain more committed than ever to unlocking opportunities for entrepreneurs, particularly youth and women, and ensuring a level playing field for their success.”
Since its inception, FFA now 54 Collective has been a key player in Africa’s startup ecosystem. The firm’s portfolio includes companies operating in sectors such as fintech, health tech and agritech. By providing seed funding, technical expertise, and mentorship, 54 Collective has helped its startups raise subsequent rounds of funding, scale their operations, and enter new markets.
54 Collective provides equity and non-dilutive capital of up to $500,000 to help founders scale their ventures across Africa. To enhance accessibility, female founders are eligible for an additional $150,000 in non-dilutive funding.
The company’s team of seasoned venture specialists offers comprehensive support, including guidance on product development, growth strategies, commercial relationships, business strategy, talent acquisition, technology, and data. This sector-agnostic approach broadens the investment opportunities available to entrepreneurs.
“We are pursuing opportunistic investments in different sectors across the continent where there are uniquely large opportunities for startups to scale and create sustainable impact in these sectors. Our goal is to invest in 105 startups across Africa in the next five years, enabling entrepreneurs to provide solutions to the continent’s biggest challenges and transforming lives and industries,” added Sithole.
Sithole asserts that venture capitalists and startups have much to learn from traditional MSMEs, which play a crucial role in the GDPs of African countries. The resilience and determination of these MSMEs in overcoming challenges like capital shortages and intense competition offer valuable lessons, especially as the startup funding drought persists.
The rebranding comes at a time when Africa’s startup landscape is experiencing rapid growth, with record levels of investment flowing into the continent. In July, tech startups across Africa secured a record-breaking $420 million in funding, the highest monthly total so far this year.
This milestone was reported by the research firm ‘Africa: The Big Deal,’ which monitors fundraising activities across the continent. With this achievement, African startups have surpassed the $1 billion mark for the year, signaling a significant improvement despite the ongoing funding challenges.
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