Cascador, Nigeria’s leading accelerator for mid-stage entrepreneurs, has rolled out a new $2 million Catalytic Fund aimed at supporting its alumni companies with tailored financial assistance. This annual initiative seeks to bridge the capital gap that many Nigerian entrepreneurs encounter despite their businesses’ potential and impact.
The fund is open for applications from February 14 until March 13, with semi-finalists set to be shortlisted by April 1. Finalists will present their business cases on Pitch Day, scheduled for May 14, 2025. The participating businesses will be evaluated based on their social impact, business viability, and ability to create jobs and unlock opportunities within underserved communities.
In conjunction with this initiative, Cascador has partnered with Sterling Bank to offer blended financing solutions designed for alumni, featuring flexible loan repayment structures to accommodate varying business cash flows. Additionally, the Nigeria Sovereign Investment Authority and Development Bank of Nigeria will offer cash prizes at the Pitch Day event to further promote innovation.
The fund’s primary objectives are to facilitate business growth, improve access to alternative funding, and promote sustainable scaling among Nigerian entrepreneurs. By focusing more on impact rather than profit, the fund aims to preserve capital for future stakeholders in the Cascador network while amplifying social impact contributions.
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