Cascador, a Nigeria-based accelerator for mid-stage entrepreneurs, has unveiled the Catalytic Fund, a USD 2 M annual initiative aimed at bridging the funding gap for its alumni. Since launching in 2019, Cascador boasts supporting 60+ entrepreneurs, who have collectively raised over USD 55 M in capital.
The fund is designed to power growth, improve access to funding, and drive sustainable scaling for Nigerian businesses. Founder Dave DeLucia emphasised its focus on job creation, social impact, and unlocking opportunities for underserved communities.
Applications opened on February 14, with finalists pitching on May 14, 2025. An elite investment committee will evaluate businesses based on impact, viability, and financial sustainability.
Cascador has partnered with Nigerian lender Sterling Bank to offer alumni custom lending solutions with flexible repayment terms tailored to business cash flows. Additionally, the Nigeria Sovereign Investment Authority (NSIA) and Development Bank of Nigeria (DBN) will sponsor innovation prizes of USD 10 K and USD 5 K, respectively, at the Pitch Day event.
Unlike traditional venture funds, the Catalytic Fund emphasises it prioritises long-term impact over profits, ensuring capital is preserved for future Cascador alumni.
Cascador and the Nigeria Sovereign Investment Authority (NSIA) have formed a strategic partnership to drive innovation and support homegrown solutions with the potential for transformative impact.
According to a statement, the partnership will enable them build positive socio-economic outcomes through strategic domestic infrastructure investments and provide fiscal support in times of economic distress.
The partnership comes as Cascador launches its $2 million annual Catalytic Fund designed to provide growth capital to alumni of its programme, and follows NSIA’s launch of the third edition of the NSIA Prize for Innovation programme tailored to support early stage businesses within Agriculture, Healthcare and Education. NSIA’s involvement will further enhance the support available to promising entrepreneurs.
This year’s focus sectors include Healthcare, Education, and Agriculture—areas critical to Nigeria’s development and aligned with both organizations’ impact objectives.
Commenting, Founder of Cascador, Dave DeLucia, said: “By leveraging NSIA’s institutional expertise and Cascador’s track record of developing high-impact entrepreneurs, this partnership unlocks new opportunities for Nigerian business leaders tackling pressing societal challenges.”
Also commenting, Managing Director, NSIA, Aminu Umar-Sadiq said:”NSIA remains committed to expanding economic opportunities and advancing innovation as a key component of National development. We believe that supporting high-potential entrepreneurs is pivotal to driving sustainable economic growth. Correspondingly, our collaboration with Cascador aligns with our overall strategy to meaningfully create value in Nigeria.”
Similarly, CEO of Cascador, Trish Thomas, said: “Dedicated Cascador Prize for Impact valued at $45,000 with winners selected by Cascador representatives at the award ceremony for NPI finalists.”
“Both Cascador and NSIA believe in the power of innovation to create an impact in Nigeria. We are sponsoring prizes in each competition to motivate finalists for the NSIA Prize for Innovation and the Cascador Catalytic Fund to focus on leveraging imagination and drive to solve tough challenges. Our intent is that these prizes accelerate efforts in the business community to make a positive impact on the world.”
The NSIA Prize for Innovation is a multi-year initiative dedicated to supporting early-stage businesses with the potential for transformative impact. The competition, which is currently open for applications until 5th April, 2025, aims to identify, build, and finance early-stage innovative solutions that have the potential to catalyze economic growth, enhance the nation’s productive capacity, and create jobs.
NPI 3.0 offers Nigerian innovators the opportunity to win a combined prize value of $220,000. Others include five-week, all-expenses-paid training program in Silicon Valley, USA, enhanced visibility for portfolio companies through joint promotional activities, access to NSIA’s extensive network of partners and resources. The Cascador 2025 programme applications opens on April 1 and submissions for the NSIA Prize for Innovation closes on April 5.
Cascador, a premier accelerator for mid-stage Nigerian entrepreneurs, and the Nigeria Sovereign Investment Authority (‘NSIA’ or ‘The Authority’) – one of the premier investment institutions of the Federation with a three-fold mandate to create a savings base for future generations of Nigerians and a catalyst towards positive socio-economic outcomes through strategic domestic infrastructure investments, providing fiscal support in times of economic distress – have formed a strategic partnership to drive innovation and support homegrown solutions with the potential for transformative impact.
This collaboration represents a major step in both organizations’ shared mission to accelerate sustainable economic growth, expand opportunities for Nigerian entrepreneurs and reposition them for global relevance.
By leveraging NSIA’s institutional expertise and Cascador’s track record of developing high-impact entrepreneurs, this partnership unlocks new opportunities for Nigerian business leaders tackling pressing societal challenges, said Dave DeLucia, Founder of Cascador.
NSIA remains committed to expanding economic opportunities and advancing innovation as a key component of National development. We believe that supporting high-potential entrepreneurs is pivotal to driving sustainable economic growth.
Correspondingly, our collaboration with Cascador aligns with our overall strategy to meaningfully create value in Nigeria, said Aminu Umar-Sadiq, Managing Director of NSIA.
Enhanced Opportunities for Entrepreneurs
The partnership comes as Cascador launches its $2 million annual Catalytic Fund designed to provide growth capital to alumni of its program, and follows NSIA’s launch of the third edition of the NSIA Prize for Innovation programme tailored to support early stage businesses within Agriculture, Healthcare and Education. NSIA’s involvement will further enhance the support available to promising entrepreneurs.
Applications for Cascador’s Catalytic Fund were open only to Cascador alumni who had completed the program. Cascador has produced six cohorts of mission driven entrepreneurs since 2019. The program will culminate in a Pitch Day Event on May 14, 2025, where finalists will present their ventures to a distinguished panel of judges and investors, including representatives from NSIA.
A $10,000 NSIA Prize for Innovation will be awarded at the event to the Cascador alumni whose business proposition best exemplifies the spirit of creativity and innovation that NSIA is fostering across Nigeria through theNSIA Prize for Innovation– an initiative focused on encouraging youth entrepreneurship through funding, mentorship, peer to peer knowledge exchange and high impact networking.
Cascador Supports the Third Edition of the NSIA Prize for Innovation (NPI 3.0).
TheNSIA Prize for Innovation is a multi-year initiative dedicated to supporting early-stage businesses with the potential for transformative impact. The competition, which is currently open for applications until 5th April, 2025, aims to identify, build, and finance early-stage innovative solutions that have the potential to catalyze economic growth, enhance the nation’s productive capacity, and create jobs.
NPI 3.0 offers Nigerian innovators the opportunity to win:
A combined prize value of $220,000
Dedicated Cascador Prize for Impact valued at $45,000($15,000 to three winners)with winners selected by Cascador representatives at the award ceremony for NPI finalists
Five-week, all-expenses-paid training program in Silicon Valley, USA
Enhanced visibility for portfolio companies through joint promotional activities
Access to NSIA’s extensive network of partners and resources
This year’s focus sectors include Healthcare, Education, and Agriculture—areas critical to Nigeria’s development and aligned with both organizations’ impact objectives.
Trish Thomas, CEO of Cascador, discussed the financial incentives for entrepreneurs, saying,
Both Cascador and NSIA believe in the power of innovation to create an impact in Nigeria. We are sponsoring prizes in each competition to motivate finalists for the NSIA Prize for Innovation and the Cascador Catalytic Fund to focus on leveraging imagination and drive to solve tough challenges. Our intent is that these prizes accelerate efforts in the business community to make a positive impact on the world.
Cascador 2025 program applications open April 1st. To learn more about Cascador and to apply, visit here.Submissions for the NSIA Prize for Innovation close on April 5th. For more information and to apply, visit here.
Cascador, the premier accelerator for mid-stage Nigerian entrepreneurs, and theNigeria Sovereign Investment Authority(‘NSIA’ or ‘The Authority’) – the premier investment institution of the Federation with a three-fold mandate to create a savings base for future generations of Nigerians, catalyse positive socio-economic outcomes through strategic domestic infrastructure investments and provide fiscal support in times of economic distress – have formed a strategic partnership to drive innovation and support homegrown solutions with the potential for transformative impact. This collaboration represents a major step in both organizations’ shared mission to accelerate sustainable economic growth, expand opportunities for Nigerian entrepreneurs and reposition them for global relevance.
“By leveraging NSIA’s institutional expertise and Cascador’s track record of developing high-impact entrepreneurs, this partnership unlocks new opportunities for Nigerian business leaders tackling pressing societal challenges,” saidDave DeLucia, Founder of Cascador.
“NSIA remains committed to expanding economic opportunities and advancing innovation as a key component of National development. We believe that supporting high-potential entrepreneurs is pivotal to driving sustainable economic growth. Correspondingly, our collaboration with Cascador aligns with our overall strategy to meaningfully create value in Nigeria, saidAminu Umar-Sadiq, Managing Director of NSIA.
Enhanced Opportunities for Entrepreneurs
The partnership comes as Cascador launches its $2 million annual Catalytic Fund designed to provide growth capital to alumni of its program, and follows NSIA’s launch of the third edition of the NSIA Prize for Innovation programme tailored to support early stage businesses within Agriculture, Healthcare and Education. NSIA’s involvement will further enhance the support available to promising entrepreneurs.
Applications for Cascador’s Catalytic Fund were open only to Cascador alumni who had completed the program. Cascador has produced six cohorts of mission driven entrepreneurs since 2019. The program will culminate in aPitch Day Event on May 14, 2025, where finalists will present their ventures to a distinguished panel of judges and investors, including representatives from NSIA.
A$10,000 NSIA Prize for Innovation will be awarded at the event to the Cascador alumni whose business proposition best exemplifies the spirit of creativity and innovation that NSIA is fostering across Nigeria through the NSIA Prize for Innovation – an initiative focused on encouraging youth entrepreneurship through funding, mentorship, peer to peer knowledge exchange and high impact networking.
Cascador Supports the Third Edition of the NSIA Prize for Innovation (NPI 3.0).
TheNSIA Prize for Innovationis a multi-year initiative dedicated to supporting early-stage businesses with the potential for transformative impact. The competition, which iscurrently open for applications until 5thApril, 2025, aims to identify, build, and finance early-stage innovative solutions that have the potential to catalyze economic growth, enhance the nation’s productive capacity, and create jobs.
NPI 3.0 offers Nigerian innovators the opportunity to win:
A combined prize value of $220,000
DedicatedCascador Prize for Impact valued at $45,000with winners selected by Cascador representatives at the award ceremony for NPI finalists
Five-week, all-expenses-paid training programin Silicon Valley, USA
Enhanced visibility for portfolio companies through joint promotional activities
Access to NSIA’s extensive network of partners and resources
This year’s focus sectors include Healthcare, Education, and Agriculture—areas critical to Nigeria’s development and aligned with both organizations’ impact objectives.
Trish Thomas, CEO of Cascador, discussed the financial incentives for entrepreneurs, saying, “Both Cascador and NSIA believe in the power of innovation to create an impact in Nigeria. We are sponsoring prizes in each competition to motivate finalists for the NSIA Prize for Innovation and the Cascador Catalytic Fund to focus on leveraging imagination and drive to solve tough challenges. Our intent is that these prizes accelerate efforts in the business community to make a positive impact on the world.”
Cascador 2025 program applications open April 1st. To learn more about Cascador and to apply, visitwww.cascador.org.
Acknowledging the significant funding gap, accelerator programs such as Cascador are taking proactive measures to tackle these challenges and foster sustainable growth within the ecosystem. Cascador, dedicated to assisting mid-stage entrepreneurs, is introducing a $2 million Catalytic Fund specifically aimed at delivering vital financial resources to its alumni companies. This annual initiative is structured to facilitate continuous development and expansion for these businesses.
Over the past decade, the African tech ecosystem has experienced remarkable growth, fueled by a combination of factors such as increasing mobile penetration, a youthful demographic, and heightened interest from investors. This dynamic environment has led to the emergence of numerous startups and innovative solutions across the continent. However, despite these advancements, significant challenges remain. One of the most pressing issues is access to funding, particularly for businesses that have progressed beyond the initial stages of development.
Many mid-stage entrepreneurs find themselves trapped in what is often referred to as the “valley of death.” In this phase, they have outgrown the seed funding that initially supported them but are not yet positioned to attract substantial venture capital investment. According todatafrom Condia’s Funding Tracker, African startups raised a total of $2.01 billion across 182 deals in 2024, marking a 31% decline in both the amount of funding and the number of deals compared to 2023, when $2.9 billion was raised across 263 deals.
Founded in 2019, Cascador has already made a significant impact by supporting over 60 entrepreneurs who have collectively raised more than $55 million in capital. The accelerator’s alumni include a diverse range of startups from various sectors, such as Sycamore, Stears, Healthtracka, Oriki, and Pricepally.
“The Catalytic Fund addresses the persistent capital gap many Nigerian entrepreneurs face, despite having viable and impactful businesses,”stated Dave DeLucia, the Founder of Cascador.“We’re deploying capital where it can truly be catalytic — powering growth, improving access to alternative funding sources, and enabling sustainable scale.”
The application period for the Catalytic Fund opened on February 14 and will close on March 13. Semi-finalists will be announced on April 1, and selected finalists will have the opportunity to present their pitches at a Pitch Day event scheduled for May 14, 2025. The pitches will undergo a rigorous evaluation process by an elite investment committee that will assess impact, business viability, and financial sustainability. The committee will prioritize entrepreneurs who demonstrate a strong commitment to job creation, social impact, and expanding opportunities for underserved communities.
In addition to the fund, Cascador has secured partnerships with key financial institutions in Nigeria. For instance,Sterling Bankwill provide tailored blended financing solutions to ensure that alumni have access to affordable and sustainable loans. These loans will be offered at lower interest rates and will feature flexible repayment structures that are directly linked to the businesses’ cash flows.
“Sterling Bank is proud to collaborate with Cascador on this fund, which aligns with our commitment to empowering Nigerian entrepreneurs,”said Abubakar Suleiman, CEO of Sterling Bank.“We’ll offer flexible repayment structures and terms designed around business cash flows that address the unique needs of high-impact businesses.”
At the Pitch Day event, innovation prizes will be awarded, sponsored by the Nigeria Sovereign Investment Authority (NSIA) and the Development Bank of Nigeria (DBN). The NSIA Prize for Innovation will offer $10,000, while the DBN Prize will provide $5,000, celebrating entrepreneurial excellence and innovation.
This fund represents Cascador’s ongoing commitment to strengthening the African tech ecosystem, building on its successful annual cohort-driven accelerator program that has been in operation for five years.“Our mission isn’t to deliver profit like a traditional venture fund but to amplify impact and preserve capital for future Cascador alumni,”DeLucia concluded, emphasizing the organization’s focus on fostering sustainable growth and supporting the next generation of entrepreneurs in Africa.
