Addressing Early-Stage Funding Gap in Southern Africa

A new venture capital fund is emerging to support entrepreneurs across Southern Africa. Bellatrix Investment Managers, a Namibia-based firm, has launched the Ndjaba Seed Fund with $10 million earmarked for early-stage startups.

The Ndjaba Seed Fund aims to fill a critical gap in funding access, particularly for those outside of South Africa where most regional venture capital is concentrated. According to TechCabal Insight’s 2025 report, less than 2% of total startup capital on the continent flows to companies raising under $1 million—a challenge felt acutely by founders in Namibia and neighboring markets.

Strategic Focus & Investment Range

The fund will target sectors with high growth potential including fintech, agritech, healthtech, education, clean energy, e-commerce, and enterprise software. Bellatrix expects to build a portfolio of 35-50 startups over the next decade, providing:

• Pre-seed companies: $25,000 - $100,000 in initial investment\n* Seed-stage companies: $100,000 - $350,000\n* Select high-potential startups: Up to $500,000 initially, with follow-on funding available

While primarily equity-focused, Bellatrix will offer flexible financing options like convertible debt and SAFEs for early-stage companies.

More Than Just Capital

The fund’s approach goes beyond providing financial resources. Startups in the Ndjaba Seed Fund can expect:

• Strategic guidance on business development & governance\n* Mentorship from experienced industry leaders\n* Access to investor networks and partnership opportunities\n* Support through the Basecamp Business Incubator ecosystem in Namibia

“Southern Africa has a strong pipeline of entrepreneurs with impactful business ideas,” says Managing Director Jesaya Hano-Oshike. “The Ndjaba Seed Fund is designed to help these businesses scale by providing both capital and operational support.”