Cheers as 54 Collective Unveils New Operating Model to Empower Founders Across Kenya and Africa
By Fred Maingi
Following its recent rebrand, 54 Collective has officially transitioned from an accelerator to a fully-fledged venture capital firm, ushering in a new era for African entrepreneurs.
This evolution solidifies 54 Collective’s position as a leading force in the African venture capital landscape, leveraging their expertise, networks, and local presence to help early-stage African startups grow and thrive.
Kenya Leading the Way in a thriving Ecosystem since 2018, 54 Collective has deployed nearly $6 million to Kenyan entrepreneurs, highlighting the firm’s deep commitment to the country’s burgeoning startup scene.
Kenya stands out as a crucial player in Africa’s venture capital ecosystem due to its thriving tech environment, strong infrastructure, supportive government policies, and a skilled talent pool. These factors collectively create a fertile ground for innovation and entrepreneurial success.
54 Collective’s impact is already evident in the successes of several Kenyan startups. BuuPass, for example, has revolutionised the inter-city transport industry by digitising ticketing systems, making travel more accessible and organised.
Since joining 54 Collective’s portfolio in 2022, BuuPass has served over 16 million passengers, covered more than 800 routes, and supported 1,250 buses in operation. The startup’s growth illustrates the power of 54 Collective’s combined financial and strategic support.
Powered by People (PBP), part of 54 Collective’s portfolio since June 2020, is a B2B platform that connects 1,800+ makers in 46 countries with buyers in North America and elsewhere.
Focused on ethical, sustainable, and social-impact-driven transactions, PBP helps expand customer bases and provides financial services to makers, including in Kenya and in the US, Canada, India, Mexico, Turkey and the UK. To date, PBP has facilitated over 100,000 orders, with 25% repeat orders from 15,000 buyers, exemplifying 54 Collective’s commitment to building African businesses for global markets.
To support aspiring and early-stage entrepreneurs and small and medium enterprises (SMEs), 54 Collective provides entrepreneurs in Kenya and newly in South Africa and Nigeria with the ability to engage with entrepreneurship as a career path, have access to needed knowledge and resources, and accelerate their entrepreneurship journey through the the Entrepreneur Academy by 54 Collective. Its mission is simple, to make entrepreneurship accessible to all.
It offers two distinct initiatives: Explore, a digital platform providing essential knowledge and tools to help entrepreneurs turn ideas into businesses.
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