Africa Founders Ventures (AFV)
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A nonprofit venture firm affiliated with 54 Collective, aimed at funding startups in Africa, now facing legal issues.
News published about Africa Founders Ventures (AFV)
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“Mastercard Foundation’s agreement was not terminated due to a breach,” Bongani Sithole, 54 Collective’s CEO
TechCabal - Jul 22, 2025
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.
54 CollectiveMastercard FoundationUtopia CapitalAfrica Founders Ventures (AFV)Deloitte
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