54 Collective, formerly Founders Factory Africa, will shut down its venture studio operations in Africa following the end of its partnership with the Mastercard Foundation on April 30, 2025. The decision, due to a lack of alternative funding, is expected to result in layoffs. Since the partnership began, 54 Collective has supported over 40 startups and created more than 17,500 jobs. While its $40 million VC fund will continue investing in startups, the closure of its venture studio raises concerns about its future engagement with early-stage founders.
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