NAIROBI, Kenya, Aug 9 – The Founders Factory Africa (FFA), an African venture capital (VC) firm, has rebranded to 54 Collective.
In a statement, the firm said that the change will be pivotal in supporting transformative technology ventures across the continent.
According to 54 Collective CEO Bongani Sitholethe, rebranding will be foundational in amplifying the firm’s commitment to supporting entrepreneurs across Africa to drive commercial and impact returns.
Furthermore, he noted that this step will further focus on unlocking more opportunities for women and youth entrepreneurs.
In a statement, the firm expressed its commitment to creating more jobs and contributing to the continent’s economic transformation.
“Our catalytic capital and value-add support to founders, through our Venture Success Platform, signifies our evolution and ongoing mission to support entrepreneurs across Africa and enable them to build without boundaries to drive commercial and impact returns. Our name change to 54 Collective communicates our continued commitment to African founders,” Sithole stated.
Furthermore, Sithole pointed out that the firm is pursuing investments in various sectors across the continents where there are opportunities for startups, a step that he asserted will be positive in seeing industrial transformation.
According to 54 Collective’s Executive Chairman and UTOPIA CEO, Roo Rogers, the firm is committed to redistributing investment and knowledge to see an equitable future for the Global South.
