An investment group that focuses on supporting African entrepreneurs and startups through funding and mentorship.
“Mastercard Foundation’s agreement was not terminated due to a breach,” Bongani Sithole, 54 Collective’s CEO
54 Collective, an early-stage venture studio, shut down in February 2025, laying off over 40 employees. Mastercard Foundation withdrew funding due to concerns over 54 Collective's rebranding and potential conflicts of interest.
African venture firm, 54 Collective, forced into liquidation over misused grant
The South African High Court provisionally liquidated 54 Collective following allegations of serious financial misconduct. The Mastercard Foundation disbursed over $42 million to the firm, which was initially registered as Africa Founders Ventures NPC.
Liquify, a Ghanaian female-led startup, raises $1.5 million seed to close Africa’s trade finance gap
Liquify closed a $1.5 million seed funding round led by Future Africa. The funding round included participation from Launch Africa Ventures, 54 Collective, Digital Africa, and Equitable Ventures.
16 venture capital firms in Africa actively funding startups in 2025
54 Collective remains active with a $40 million fund despite shutting down its venture studio operations. Accion Venture Lab invested in SUKHIBA, an AI-powered conversational commerce platform, emphasizing financial inclusion.
54 Collective To Shut Down Venture Studio in Africa
54 Collective will shut down its venture studio operations in Africa after April 30, 2025. The firm has backed over 40 startups and created more than 17,500 jobs through its programs.
