Five35 Ventures, a pan-African venture capital firm specialising in early-stage, tech-enabled businesses led by or focused on women, has received a significant anchor investment for its newest fund. The commitment comes from the Mastercard Foundation Africa Growth Fund, managed by Mennonite Economic Development Associates (MEDA) Mauritius Foundation. This support underscores growing institutional confidence in gender-lens investing across the continent, where female entrepreneurs continue to face disproportionate barriers to capital despite their potential to drive innovation and employment.
The firm’s portfolio of 16 companies spans sectors including fintech, agriculture, health, logistics and climate innovation. According to Five35, its investments have created over 1,400 jobs across Africa and attracted more than US$75 million in follow-on funding for portfolio companies. Beyond providing capital, the fund has supported growth through enhanced governance, market access and operational scaling, positioning it as a key player in bridging the funding gap for women-led ventures in emerging markets.
Hema Vallabh, founding partner at Five35 Ventures, has emphasised the firm’s commitment to integrity, rigour and measurable results. She noted that the organisation prioritises backing ventures with demonstrated traction and transparency, while maintaining high standards of governance. This approach has built investor trust and laid the groundwork for sustained performance, particularly in the challenging early-stage investment landscape.
As reported by Disrupt Africa, the anchor investment from the Mastercard Foundation Africa Growth Fund aligns with shared values of impact and commercial viability. Dr Dorothy Nyambi, president and CEO of MEDA, has highlighted Five35’s role in reshaping narratives around women entrepreneurs in Africa by providing early-stage support, bolstering governance and delivering tangible outcomes such as business expansion, follow-on capital attraction and large-scale job creation.
The funding will enable Five35 to expand its geographical footprint across East, West and Southern Africa, deepen its portfolio investments and strengthen partnerships with accelerators, ecosystem builders and policymakers. By concentrating on early-stage opportunities where traditional funding is scarce, the firm aims to address systemic gaps and foster inclusive growth in Africa’s technology sector.
Africa’s venture capital ecosystem has seen increasing focus on gender diversity, with female-founded startups historically receiving a fraction of total investments. Initiatives like Five35 Ventures contribute to closing this divide, demonstrating that targeted support can yield both financial returns and broader social impact, including job creation and economic empowerment.
Overall, this anchor investment reinforces the viability of impact-oriented venture capital in Africa. By aligning mission with performance, Five35 Ventures is well-positioned to scale its efforts, support more women-led innovations and contribute to a more equitable entrepreneurial landscape across the continent.