Strategic Investment Focus on Female Tech Entrepreneurs

Five35 Ventures is a dynamic pan-African venture capital fund dedicated to nurturing early-stage female-led technology startups. With a focus on seed and Series A rounds, the fund aims to empower women entrepreneurs across East, West, and Southern Africa. Backed by a significant anchor investment from the Mennonite Economic Development Associates Mauritius Foundation (MEDA), which manages the Mastercard Foundation Africa Growth Fund (MFAGF), Five35 is positioned to accelerate its mission of fostering gender-inclusive innovation ecosystems.

Expanding Capital to Drive Inclusive Innovation

In its ambitious plan to raise $30 million by 2022, Five35 Ventures seeks to broaden its portfolio of women-focused startups and deepen collaborations with ecosystem partners. This capital infusion will enable the fund to scale its impact, supporting a wider array of female entrepreneurs and enhancing access to critical resources and networks.

The MFAGF, a $200 million fund-of-funds initiative, plays a pivotal role in channeling investments into small and medium enterprises (SMEs) and startups throughout Sub-Saharan Africa. Five35 joins a select group of venture capital funds, including Sahel Capital, that have successfully leveraged MFAGF resources to fuel regional innovation.

Leadership Rooted in Integrity and Measurable Impact

Hema Valllabh, founding partner of Five35 Ventures, emphasizes the firm’s commitment to principled investing and tangible outcomes. “From inception, our focus has been on building a venture capital firm grounded in transparency, discipline, and measurable success,” Valllabh explains. This approach fosters investor confidence and lays a solid foundation for sustainable growth.

Portfolio Highlights and Job Creation

Since its launch in 2022, Five35 Ventures has invested in a diverse range of African startups, including Rwanda’s online health and beauty platform Kasha, Kenya’s digital transport service BuuPass, Nigeria’s healthcare technology company RxAll, and South Africa’s data science competition platform Zindi. Collectively, these 16 portfolio companies have generated over 1,400 new jobs and attracted upwards of $75 million in follow-on funding, underscoring Five35’s role in driving economic empowerment and innovation.

Investment Structure and Support Ecosystem

Five35 offers seed-stage startups investments up to $500,000 through Simple Agreements for Future Equity (SAFEs), which convert into equity at discounted valuations during subsequent funding rounds. For Series A, the fund provides up to $2 million in capital. Beyond financing, startups benefit from access to a robust global network of advisors, mentors, and institutional investors, facilitating growth and scalability.

The fund’s model uniquely integrates capital infusion with capacity building, connecting early-stage founders to strategic partnerships that accelerate their journey from pre-seed to scale. A key priority is empowering female entrepreneurs and first-time investors, exemplified by initiatives like the 35’er Club, which lowers barriers for women entering venture capital investment.

Collaborations Enhancing Women-Led Tech Innovation

In 2023, Five35 deepened its ecosystem engagement through a partnership with Cisco and WomHub, an organization co-founded by Valllabh. This collaboration established incubation hubs and innovation spaces dedicated to women-led STEM and technology enterprises, further expanding Five35’s portfolio and reinforcing its commitment to early-stage startup development.

Aligning with Broader Impact Investment Goals

The partnership with MFAGF aligns with a broader strategy to support Africa-based fund managers who combine sector expertise with local insights, particularly in scaling women-led ventures. Dr. Dorothy Nyambi, CEO and President of MEDA, highlights the significance of this collaboration: “Five35 exemplifies how mission-driven investments can yield measurable outcomes. By supporting women entrepreneurs early and emphasizing strong governance, the fund is transforming the narrative around female-led businesses in Africa-driving growth, attracting follow-on capital, and creating jobs at scale.”