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South African venture builder, Founders Factory Africa (FFA), renowned for its hybrid tech startup investment model, has secured an impressive $114 million in fresh funding.
This recent investment comes from the Mastercard Foundation and Johnson & Johnson Impact Ventures, an impact fund under the Johnson & Johnson Foundation. It builds upon previous investments made by entities such as Standard Bank, Small Foundation, and Netcare into Founders Factory Africa.
Alina Truhina, co-founder of FFA, expressed enthusiasm about the new funding, highlighting its dynamic and innovative nature. This funding follows previous investments by Standard Bank Group, Small Foundation, and Netcare Group.
Since its inception in 2018, Founders Factory Africa has propelled over 55 innovative firms across the continent. Its hybrid investment approach, coupling financial and operational support, is set to evolve even further with this infusion of funds.
Bongani Sithole, CEO of Founders Factory Africa, underlined the importance of supporting tech-driven, solution-focused ventures that can swiftly scale and make a meaningful impact on Africa’s advancement. He stated, “Our role as FFA is to provide founders with the funding, knowledge, and hands-on venture-building support they need to achieve commercial success and create outsized, systematic impact.”
The new funds will allow the early-stage investor to reinforce its approach, transitioning to a sector-agnostic investment strategy. This strategy prioritizes entrepreneurs who value strong business fundamentals. Additionally, the company aims to address the gender disparity within the startup ecosystem.
Founders Factory Africa plans to enhance its internal capabilities, ensuring continued support for its portfolio of startups. It also aims to broaden its capital investment offerings, including non-dilutive capital, to cater to various capital deployment requirements across different stages of a venture’s maturity.
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