Namibia Fund Backs 50 African Startups With $10 Million

Entrepreneurs across Southern Africa just got a powerful new ally in their corner.

Bellatrix Investment Managers launched the Ndjaba Seed Fund this week, committing $10 million to early-stage startups in a region where capital has been painfully hard to find. Named after the Oshiwambo word for "elephant," the fund aims to support between 35 and 50 startups over the next ten years.

The timing couldn't be better. In 2025, startups raising under $1 million attracted just 2% of all venture capital on the African continent, leaving countless founders without the runway they need to grow.

The gap hits especially hard in Southern Africa. While the region pulled in $933 million in startup funding, most of that money flowed to South Africa, leaving entrepreneurs in Namibia and neighboring countries scrambling for scraps.

Bellatrix knows these markets well. Founded in 2020 in Windhoek, Namibia's capital, the firm has already deployed over $30 million to more than 500 businesses across the region through debt and concessional financing.

The Ndjaba Seed Fund marks their first dedicated venture capital vehicle. Pre-seed startups can receive between $25,000 and $100,000, while seed-stage companies can access up to $350,000, with some initial investments reaching $500,000.

"Southern Africa has a strong pipeline of entrepreneurs with the potential to build impactful businesses," said Managing Director Jesaya Hano-Oshike. "The Ndjaba Seed Fund is designed to bridge this gap by providing both funding and the support needed to scale."

The fund will focus on sectors where innovation can create real change: fintech, agritech, healthtech, education, clean energy, e-commerce, and enterprise software. Beyond writing checks, Bellatrix plans to offer strategic guidance, mentorship, governance support, and connections to investor networks.

The Ripple Effect

When entrepreneurs in underserved markets get the capital they need, entire communities benefit. The fund's approach goes beyond money, partnering with the Basecamp Business Incubator to help startups become investor-ready and reach new markets.

By taking a measured approach and building a strong track record, Bellatrix hopes to pave the way for even larger funds in the future. The firm is already connecting with founders through existing networks, with a formal application process launching soon.

For the first time, entrepreneurs across Southern Africa have a dedicated partner ready to bet on their vision and help them scale across the region.