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Founders Factory Africa has secured an additional USD 114 M in funding to scale its model to better serve founders across the African tech ecosystem. The additional support from the Mastercard Foundation and Johnson & Johnson Impact Ventures, an impact fund within the Johnson & Johnson Foundation, follows on from previous investments into Founders Factory Africa by Standard Bank, Small Foundation and Netcare.
The support will enable Founders Factory Africa to scale its model and better serve technology-led start-ups and founders across the African continent. Reportedly, Founders Factory Africa has catalysed the trajectory of over 55 tech start-ups across the continent since its inception in 2018.
The additional funding affirms Founders Factory Africa’s hybrid investment model of combining capital and operational support and will help the early-stage investor further iterate this model by: becoming sector-agnostic in its investment with founders who prioritize business fundamentals, broadening its capital investment offering to include non-dilutive capital, and strengthening Founders Factory Africa’s internal capacity to continue to provide its portfolio of start-ups with the best venture-building support.