Founders Factory Africa, a venture builder based in South Africa, has secured $144 million in funding to expand its hybrid investment model across Africa. This investment approach combines both capital and operational support for startups. The funding comes from the Mastercard Foundation and Johnson & Johnson Impact Ventures, an impact fund within the Johnson & Johnson Foundation. This additional funding will allow Founders Factory Africa to further develop its investment strategy, focusing on early-stage African tech startups. The venture builder provides both equity checks of around $250,000 and an additional $150,000 in equity-free capital to selected startups. The aim is to support startups that prioritize business fundamentals and address the gender imbalance in the ecosystem. Founders Factory Africa also plans to offer non-dilutive capital to cater to different capital needs across the venture maturity curve and enhance its internal capabilities to provide effective venture-building support to its portfolio startups.
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