Cascador, Nigeria’s leading accelerator for mid-stage entrepreneurs, has unveiled its Growth Fund, a $2 million annual initiative designed to provide tailored financial support to its alumni companies. The fund will offer a mix of debt and equity financing to mission-driven businesses, enabling them to accelerate growth and amplify their impact.
Since its inception in 2019, Cascador has supported over 60 entrepreneurs who have collectively raised more than $55 million in capital. The Growth Fund aims to address the persistent funding challenges faced by Nigerian entrepreneurs, even those with viable and impactful businesses.
Dave DeLucia, Founder of Cascador, emphasized the fund’s strategic purpose: “The Growth Fund is designed to deploy capital where it can be truly transformative—driving growth, expanding access to alternative funding sources, and enabling sustainable scaling for businesses that are making a difference.”
The application process for the Growth Fund opened on February 14, with finalists set to present their pitches at a Pitch Day event on May 14, 2025. A distinguished investment committee will evaluate the pitches based on three key criteria: impact, business viability, and financial assessment. Priority will be given to entrepreneurs who are creating jobs, delivering social impact, and unlocking opportunities for underserved communities.
To further bolster its support, Cascador has forged strategic partnerships with prominent Nigerian financial institutions. Sterling Bank, for instance, will offer blended financing solutions through a custom lending program tailored to the unique needs of Cascador alumni. This partnership aims to provide affordable and sustainable loans, featuring flexible repayment structures aligned with business cash flows.
The Growth Fund represents a significant step forward in bridging the funding gap for Nigerian entrepreneurs, empowering them to scale their businesses while driving meaningful social and economic change.
