54 Collective, the venture firm formerly known as Founders Factory Africa, will shut down its venture studio operations in Africa after its partnership with the Mastercard Foundation ends on April 30, 2025.
Why it matters
The shutdown marks a major shift for 54 Collective, which has backed over 40 startups and helped create more than 17,500 jobs through its venture studio and accelerator programs.
Driving the news
- The Mastercard Foundation has been a key funding partner, supporting 54 Collective’s venture studio, Gen F accelerator, and Entrepreneur Academy.
- With both organizations pursuing different strategies, 54 Collective—officially registered as Africa Founders Ventures (AFV)—has been unable to secure alternative funding to keep the studio running.
- Employees were informed on Friday that the firm would begin winding down the venture studio, with a redundancy consultation process expected to follow.
Yes, but: 54 Collective’s $40 million venture capital fund, UAF1, remains active and will continue investing in African startups. The firm also holds a separate multi-million-dollar fund raised in 2023 to support portfolio companies and address gender disparities in VC.
Source: TechCabal
