The new vehicle, called the Ndjaba Seed Fund, will invest in startups operating in sectors such as fintech, agritech, healthtech, education, clean energy, e-commerce, and enterprise software.

The fund is expected to support between 35 and 50 startups over the next decade.

The launch comes amid growing concern about the lack of funding available to startups at the earliest stages of growth in Africa.

While venture capital activity on the continent has expanded over the years, a significant share of funding still goes to larger and more mature companies.

The funding challenge has been especially visible in Southern Africa, where despite startups in the region attracting about $933 million in funding, much of that capital flowed into South Africa.

Bellatrix Managing Director Jesaya Hano-Oshike said the new fund was created to address that financing gap and support entrepreneurs building scalable businesses.

“Southern Africa has a strong pipeline of entrepreneurs with the potential to build impactful businesses. However, access to early-stage capital remains limited,” Hano-Oshike said.

“The Ndjaba Seed Fund is designed to bridge this gap by providing both funding and the support needed to scale.”

Founded in Windhoek in 2020, Bellatrix Investment Managers focuses on alternative investments across Southern Africa, with financing products that include SME debt funding, startup financing, and impact investment initiatives.

The company says it has already deployed more than $30 million in debt and concessional financing to over 500 businesses in the last five years.

The Ndjaba Seed Fund marks the firm’s first dedicated venture capital fund.

According to Bellatrix, pre-seed startups will typically receive investments ranging from $25,000 to $100,000, while seed-stage businesses may secure between $100,000 and $350,000.

In some cases, startups could receive up to $500,000 in initial funding, with additional capital reserved for follow-on investments in high-performing companies.

Although the fund’s primary investment structure will be equity-based, Bellatrix says it will also offer flexible financing instruments such as convertible debt and SAFEs to accommodate startups at different growth stages.

The fund will also work closely with the Basecamp Business Incubator ecosystem, a Namibian innovation hub that supports startups through training, mentorship, and investment facilitation.

Hano-Oshike said Bellatrix has already started engaging founders through existing startup networks ahead of a broader application process that is expected to roll out alongside the fund’s launch.