54 Collective CEO Bongani Sithole.

Founders Factory Africa (FFA), a venture capital firm, is now operating as 54 Collective, saying its business model is developing to better assist disruptive technology initiatives across the continent.

It pledged to provide support in the form of catalytic financing and value-added services through its Venture Success Platform.

The Venture Success Platform is comprised of a team of seasoned venture specialists who give personalised assistance.

This includes product, growth, commercial partnerships, business strategy, personnel, technology, and data to establish scaleable companies.

The team also guarantees that founders have access to the appropriate funds by preparing them for investor readiness, investor access, fundraising strategies, debt unlocking, and impact capital, according to the company.

It additionally says that the Venture Success Platform enables founders to succeed globally by offering networking and community building opportunities.

According to the company, this unique combination of significant funding and comprehensive support distinguishes 54 Collective as the only Venture Capital firm in Africa that provides early-stage founders with the highest amount of catalytic capital and support from its team, which includes over 70 staff members in Kenya, South Africa, Nigeria, and the United Kingdom.

The new name, 54 Collective, builds on the FFA's track record of investing in and scaling early-stage African enterprises, says the company.

It adds: “The new name, 54 Collective, reflects the firm's ambitious pan-African vision, aspiring to help entrepreneurs grow their businesses to serve all 54 African countries.”

54 Collective CEO Bongani Sithole, comments: "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. We are more supportive than ever of unlocking opportunities for entrepreneurs and ensuring a level playing field for youth and women founders.”

54 Collective investment strategy is to provide equity and non-dilutive finance up to $500k, allowing founders to expand their businesses across the continent.

To break down access barriers, female founders will receive an additional $150k of non-dilutive financing compared to their male counterparts, according to the company.

Going forward, Sithole says: “We are pursuing opportunistic investments in different sectors across the continent where there are uniquely large opportunities for start-ups to scale and create sustainable impact in these sectors.

“Our goal is to invest in 105 start-ups across Africa in the next five years, enabling entrepreneurs to provide solutions to the continent's biggest challenges and transforming lives and industries.”