Nigeria |  26 March 2025

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.

Article first published here: Cascador, NSIA Partner to Empower Nigerian Entrepreneurs – THISDAYLIVE

March 25, 2025 by Our Reporter

Cascador, the premier accelerator for mid-stage Nigerian entrepreneurs, and the Nigeria 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,” 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 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).

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 5^th 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 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 www.cascador.org.

Article first published here: Cascador and Nigeria Sovereign Investment Authority (NSIA) Announce Strategic Partnership to Empower Nigerian Entrepreneurs – The Nation Newspaper

By Tapiwa Matthew Mutisi on March 17, 2025

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 to data from 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 Bank will 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.

Article first published here: Cascador launches $2 million Catalytic Fund to support mid-stage entrepreneurs in Africa’s tech ecosystem – Innovation Village | Technology, Product Reviews, Business

March 14, 2025 

By Daniel Adeyemi

Over the past decade, the African tech ecosystem has seen unprecedented growth, driven by a confluence of factors, including rising mobile penetration, a youthful population, and increasing investor interest. 

Despite this progress, significant hurdles persist. Access to funding remains a major obstacle, especially for ventures beyond the early stage. Mid-stage entrepreneurs often find themselves in a “valley of death,” where they have outgrown seed funding but are not yet ready for large-scale venture capital. Data from Condia’s Funding Tracker reveals that in 2024, African startups raised $2.01 billion across 182 deals, a 31% decrease in both funding amount and deal volume compared to 2023, when $2.9 billion was raised across 263 deals.

Recognising this critical gap, accelerator programmes like Cascador are playing a pivotal role in addressing these challenges and fostering sustainable growth. 

To bolster the growth of its alumni companies, Cascador, an accelerator for mid-stage entrepreneurs, is establishing a $2 million Catalytic Fund. This annual initiative will provide essential financial resources to support their ongoing development.

Founded in 2019, Cascador has supported over 60 entrepreneurs who have collectively raised more than $55 million in capital. Its alumni consists of startups from different sectors, including Sycamore, Stears, Healthtracka, Oriki, and Pricepally.

“The Catalytic Fund addresses the persistent capital gap many Nigerian entrepreneurs face despite having viable, impactful businesses,” said Dave DeLucia, 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 fund opened on February 14 and will close on March 13. Semi-finalists will be shortlisted on April 1, and selected finalists will present at a Pitch Day event on May 14, 2025. 

The pitches will undergo rigorous evaluation by an elite investment committee with a focus on impact, business viability, and financial assessment. The committee will prioritize entrepreneurs who demonstrate a commitment to job creation, social impact, and expanding opportunities for underserved communities.

Cascador has also secured partnerships with key Nigerian financial institutions. Sterling Bank, for example, will provide tailored blended financing solutions, ensuring alumni access to affordable and sustainable loans. These loans, provided at lower interest rates, will feature flexible repayment structures directly linked to business cash flows.

“Sterling Bank is proud to collaborate with Cascador on this fund that aligns with our commitment to empowering Nigerian entrepreneurs,” said Abubakar Suleiman, Sterling Bank CEO. “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 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.

This fund signals Cascador’s commitment to building the African tech ecosystem, building on its annual cohort-driven accelerator programme that has operated 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 added.

Article first published here: Cascador is launching a $2 million fund for its alumni startups 

 March 11, 2025

Cascador, a leading accelerator for mid-stage entrepreneurs in Nigeria, has introduced the Catalytic Fund, a $2 million annual initiative aimed at providing financial support to its alumni businesses. The fund, announced in a statement on Monday, seeks to address the critical funding challenges faced by Nigerian entrepreneurs by offering both debt and equity financing to mission-driven enterprises.

According to Cascador, the fund is designed to be a game-changer for businesses seeking sustainable growth. Founder Dave DeLucia emphasized its role in unlocking alternative funding opportunities and driving long-term business expansion. “We are deploying capital where it can truly be catalytic—powering growth, improving access to alternative funding sources, and enabling sustainable scale,” DeLucia said.

Since its inception in 2019, Cascador has supported over 60 entrepreneurs, who have collectively raised more than $55 million in capital. The organization’s latest initiative builds on its commitment to fostering a thriving business ecosystem in Nigeria.

As part of its strategy to enhance access to affordable financing, Cascador has partnered with Sterling Bank to introduce a custom lending programme tailored to the needs of its alumni businesses. The partnership is expected to provide sustainable loans with flexible repayment structures aligned with business cash flows. “Sterling Bank will provide blended financing solutions through a custom lending programme tailored to alumni needs,” the statement read.

Beyond financial support, Cascador continues to strengthen Nigeria’s entrepreneurial landscape through leadership training and networking opportunities. The accelerator reaffirmed its commitment to empowering Nigerian businesses, ensuring they have the resources needed to scale and succeed in an increasingly competitive market.

Article first published here: Cascador Unveils $2 Million Fund to Boost Nigerian Entrepreneurs – MSME Africa

11th March 2025

By Temitope Aina

Cascador, Nigeria’s premier accelerator for mid-stage entrepreneurs, has launched the Catalytic Fund, a $2m annual initiative designed to provide financial support to its alumni companies.

According to a statement made available to our correspondent by the firm on Monday, the fund will offer both debt and equity financing to mission-driven businesses and bridge the funding gap that many Nigerian entrepreneurs face.

The founder of Cascador Catalytic Fund, Dave DeLucia, stated that “we are deploying capital where it can truly be catalytic—powering growth, improving access to alternative funding sources, and enabling sustainable scale.”

DeLucia added that since its inception in 2019, it has supported over 60 entrepreneurs, collectively raising more than $55m in capital.

According to the statement, in a move to enhance access to affordable financing, Cascador has partnered with Sterling Bank to provide blended financing solutions through a custom lending programme tailored to the needs of its alumni.

The statement added, “Sterling Bank will provide blended financing solutions through a custom lending programme tailored to alumni needs. The partnership aims to provide affordable and sustainable loans to Cascador alumni through flexible repayment structures around business cash flows.”

The PUNCH reported that Cascador, a transformative programme for mid-stage entrepreneurs in Africa, has reaffirmed its commitment to empowering Nigerian entrepreneurs by offering significant financial support, leadership training, and networking opportunities.

Article first published here: Cascador unveils $2m fund to support entrepreneurs