By Ayomide Otitoju
Cascador, a leading accelerator for mid-stage entrepreneurs in Nigeria, has partnered with Sterling Bank to unveil a $2 million Catalytic Fund aimed at unlocking growth capital for African startups.
The initiative introduces low-interest, collateral-light loans paired with business mentorship for Cascador alumni, marking a major shift in SME financing. Sterling Bank will serve as fund custodian and structuring partner, offering tailored financial instruments including revenue-based and equipment financing.
“This is a breakthrough for Cascador and the entrepreneurs we support,” said Dave DeLucia, Founder of Cascador. “We’re combining education with capital structured around the realities of doing business in Africa.”
The fund targets high-impact sectors such as healthcare, education, logistics, manufacturing, agri-business, and financial inclusion. A high-profile pitch day on May 14, 2025, will determine funding recipients based on impact and viability.
Additional backers include the Nigeria Sovereign Investment Authority and the Development Bank of Nigeria, which will present innovation awards to top ventures. Since its inception in 2019, Cascador has helped over 60 businesses raise more than $55 million and create thousands of jobs across the continent.
