Startup funder 54 Collective set to close shop, cut jobs

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The venture firm has told its employees it was going through a restructuring which meant redundancies were nigh.

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Venture capital firm 54 Collective will shut down its Africa operations, including in Kenya, beginning April 30, as its funding from Mastercard Foundation ends.

54 Collective’s start-up portfolio in Kenya includes Wingi, which specialises in custom brand packaging solutions, SME-focused buy-now-pay-later platform, Zanifu, digital healthcare platform Zuri Health, digital mental health platform, Wazi, and invoicing platform, Wareflow.

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