Venture capital fund Five35 Ventures has secured an anchor investment from economic development organisation the Mennonite Economic Development Associates (MEDA) Mauritius Foundation, which also serves as the fund manager of the Mastercard Foundation Africa Growth Fund.

The anchor investment, the value of which was not disclosed, strengthens the female-focused fund. Five35 Ventures’ investments have already generated more than 1 400 jobs across Africa and attracted more than $75-million.

The venture capital fund invests in early-stage, technology-enabled, female-focused startups. Its 16-company portfolio spans financial technology, agriculture, health, logistics and climate innovation.

Additionally, the fund helps to scale businesses, strengthen governance and accelerate market access.

“We take a measured approach and back ventures that demonstrate both traction and transparency, while holding ourselves to the same standards. This consistency and governance discipline continue to strengthen investor confidence and set the foundation for long-term performance,” says Five35 Ventures founding partner Hema Vallabh.

This backing from an investor like the Mastercard Foundation Africa Growth Fund reinforces that disciplined, impact-driven investing can deliver commercial returns and systemic change, she adds.

Five35 Ventures backs women entrepreneurs in Africa early, strengthens governance and delivers real outcomes, namely growing companies, attracting follow-on capital, and creating jobs at scale, says MEDA president and CEO Dorothy Nyambi.

This investment aligns with the Mastercard Foundation Africa Growth Fund’s mission to expand gender-lens investing by supporting Africa-based fund managers that combine sector expertise with local market knowledge. It brings steady, patient capital to the fund, Five35 Ventures says.

It also lets Five35 stand out among funds, and proves that locally managed capital can meet global performance standards.

Five35 will deepen its reach across East, West and Southern Africa, scale its portfolio and broaden collaboration with accelerators, ecosystem partners and policymakers.

Further, Five35 Ventures acts as an investor and a connector and pairs capital with capacity to strengthen the continuum between founders and investors.

The firm operates through a connected ecosystem that provides acceleration, capability development and access to networks that help early-stage companies move from pre-seed, or seed, to scale.

Its focus is on early-stage investing, where the firm’s expertise in backing ventures is proven to operate beyond mainstream funding channels, the company adds.

“The partnership with the Mastercard Foundation Africa Growth Fund builds on our measured execution in which every investment decision is strategic and reflects an understanding of Africa’s entrepreneurial landscape,” says Five35 Ventures general partner Fatou Touré.

“When African fund managers, global partners, and female founders purposefully work together, we create pathways for early-stage ventures to thrive, thereby growing opportunities for women entrepreneurs and shaping a more inclusive and resilient African venture ecosystem,” she says.