Five35 Ventures has secured an anchor commitment from the Mastercard Foundation Africa Growth Fund, a move that will strengthen support for women-led startups across Africa and expand the reach of gender-lens investing on the continent. The investment positions Five35 to scale its activities across East, West and Southern Africa while deepening engagement with early-stage women founders who face persistent barriers to accessing capital.
Five35 Ventures is a pan-African, female-focused early-stage venture capital fund that invests at critical phases of company growth. To date, the fund has attracted more than $75 million in investments, supported the creation of over 1,400 jobs, and built a portfolio of 16 tech-enabled companies operating in sectors such as fintech, agriculture, health, logistics and climate solutions. The new commitment will enable the fund to further grow its portfolio and extend its impact across multiple African markets.
The Mastercard Foundation Africa Growth Fund, managed by Mennonite Economic Development Associates, is a $200 million fund-of-funds that applies a strong gender lens to equity investments. Its mandate focuses on improving access to finance for women and young people by backing Africa-based fund managers with deep local knowledge and sector expertise. The partnership with Five35 aligns with this mission by strengthening locally led capital deployment that supports inclusive economic growth.
Five35’s general partner, Fatou Touré, noted that the commitment reflects rising confidence in African fund managers and offers support that goes beyond capital, enabling closer collaboration with founders and broader regional expansion. MEDA President and CEO Dorothy Nyambi highlighted Five35’s proven track record in supporting women-led and women-focused enterprises, citing evidence of business growth, capital mobilisation and job creation as key reasons for the partnership.
In parallel, Five35 has continued to diversify its investor base through initiatives such as the 35’er Club, which encourages first-time female investors to participate in venture capital by lowering entry barriers. Additional backing from partners such as Cisco has strengthened the fund’s operational capacity, while the latest investment will support portfolio growth and expanded collaboration with accelerators, ecosystem builders and policymakers across Africa.
