A Pan-African, female-focused venture capital fund, Five35 Ventures, is entering a new phase of growth following an anchor investment from the Mastercard Foundation Africa Growth Fund, managed by the Mennonite Economic Development Associates (MEDA) Mauritius Foundation.
The partnership brings long-term capital and added operational depth to Five35 Ventures, which focuses on early-stage, tech-enabled, female-focused startups across Africa. To date, the fund’s portfolio has generated more than 1,400 jobs and attracted over USD $75 million in follow-on capital, positioning it as one of the continent’s notable gender-lens investment platforms.
The anchor investment was secured in October 2025 and builds on Five35’s existing momentum as a fast-growing fund delivering employment, capital mobilisation, and scalable impact. Five35 currently invests in 16 companies operating across fintech, agriculture, health, logistics, and climate innovation. Beyond funding, the firm supports portfolio companies through governance strengthening, market access, and operational scaling.
“From the outset, our goal has been to build an investment firm defined by integrity, rigour, and results,” said Hema Vallabh, Founding Partner at Five35 Ventures. “We take a measured approach, backing ventures that demonstrate both traction and transparency, and holding ourselves to the same standards. This consistency and governance discipline continue to strengthen investor confidence and set the foundation for long-term performance.”
She added that the support from a values-aligned investor reinforces the idea that disciplined, impact-driven investing can deliver commercial returns alongside systemic change.
Five35 Ventures operates as both investor and connector, working within a broader ecosystem that provides acceleration, capability development, and access to strategic networks. This model aims to support founders as they move from pre-seed or seed stages toward scale.
Dr. Dorothy Nyambi, President and CEO of MEDA, said: “What excites us about Five35 is how clearly it unites purpose and performance. It’s rewriting the story of women entrepreneurs in Africa by backing them early, strengthening governance, and turning that conviction into real outcomes – growing companies, attracting follow-on capital, and creating jobs at scale.”
The investment aligns with the Mastercard Foundation Africa Growth Fund’s objective to expand gender-lens investing by supporting Africa-based fund managers with strong local market expertise. It also builds on Five35’s earlier capital raised through its 35’er Club initiative, which encouraged first-time female investors to participate.
Additional capital from Cisco has further expanded Five35’s operational capacity. Together, these developments support the firm’s plans to deepen its presence across East, West, and Southern Africa, grow its portfolio, and work more closely with accelerators, ecosystem partners, and policymakers.
“Measured execution is at the heart of Five35 Ventures, ensuring every investment decision is both strategic and maintains a deep understanding of Africa’s entrepreneurial landscape,” said Fatou Touré, General Partner at Five35 Ventures. She noted that the partnership goes beyond capital and reflects confidence in collaboration between African fund managers, global partners, and female founders.
