Five35 Ventures secures anchor backing from Mastercard Foundation Africa Growth Fund for new pan-African investment vehicle

The MEDA-backed anchor capital is expected to bolster Five35’s capacity to deepen its reach across East, West and Southern Africa, support more female entrepreneurs, and bridge critical financing gaps between pre-seed and scale stages.

Five35 Ventures, a venture capital firm operating across the African continent and specializing in early-stage, tech-enabled companies led by or serving women, has received a significant anchor commitment for its newest fund from the Mastercard Foundation Africa Growth Fund, managed by the MEDA Mauritius Foundation.

The firm, known for channeling capital toward women-centered African startups, says its portfolio has already contributed to the creation of more than 1,400 jobs and attracted over US$75 million in follow-on funding. Today, its 16 investments span sectors such as financial services, agriculture, digital health, logistics, and climate-focused innovation. Beyond deploying capital, Five35 Ventures positions itself as a partner in strengthening governance, driving operational capacity, and helping startups expand their market presence.

“Our intention from day one was to build an investment platform grounded in discipline, transparency, and measurable outcomes,” said Hema Vallabh, founding partner at Five35 Ventures. “We invest deliberately, supporting companies that show real traction and uphold strong governance, and we hold ourselves accountable to the same expectations. This consistency continues to reinforce investor confidence and supports sustainable long-term performance.”

The new anchor investment from the Mastercard Foundation Africa Growth Fund represents another step in the firm’s goal of expanding its presence in East, West, and Southern Africa. Vallabh noted that aligning with an investor whose mission emphasizes impact and long-term development underscores the fund’s belief that commercial returns and systemic change can advance together.

Dr. Dorothy Nyambi, president and CEO of MEDA, said the partnership reflects the fund’s confidence in Five35 Ventures’ approach. “What stands out about Five35 is its ability to blend purpose with performance,” she said. “By backing women-focused startups early, strengthening governance structures, and driving measurable outcomes, from job creation to attracting additional capital, they are shifting the narrative for women entrepreneurs across the continent.”

With fresh backing, Five35 Ventures plans to expand its pipeline, increase engagement with accelerators and ecosystem enablers, and continue supporting founders operating just beyond the reach of traditional early-stage capital.