A new funding vehicle aimed at unlocking growth for early-stage businesses in Southern Africa will be launched on Wednesday, as Bellatrix Investment Managers introduces the Ndjaba Seed Fund. The fund is positioned to support startups that are operational but remain constrained by a lack of accessible early-stage financing.
The initiative comes at a time when early-stage investing is increasingly seen as a driver of economic growth, job creation and innovation in the region. By targeting businesses that have moved beyond the idea stage, the fund aims to help entrepreneurs validate their models and scale their operations.
Managing Director Jesaya Hano-Oshike said the Ndjaba Seed Fund is designed to address a long-standing challenge faced by many entrepreneurs. “Southern Africa has a strong pipeline of entrepreneurs with the potential to build impactful businesses. However, access to early-stage capital remains limited,” he said. “The Ndjaba Seed Fund is designed to bridge this gap by providing both funding and the support needed to scale.”
Closing the “Missing Middle” Gap
One of the key areas the fund will focus on is the so-called “missing middle.” This refers to businesses that are too advanced to qualify for grants but not yet ready to access traditional bank financing or large-scale investment.
The Ndjaba Seed Fund will step into this space by offering not only financial support but also technical assistance. Bellatrix said the fund will combine capital with mentorship, networks and investor readiness programmes to improve the chances of success for early-stage ventures.
This approach reflects a broader understanding that funding alone is often not enough. Many startups struggle not because of a lack of ideas, but because they lack the support needed to grow sustainably. By pairing funding with practical support, the fund aims to help businesses build stronger foundations and improve their chances of long-term success.
Although based in Namibia, the fund will invest across Southern Africa, backing businesses with the potential to grow and expand into multiple markets.
Building Stronger Businesses and Economies
The launch of the Ndjaba Seed Fund highlights the growing role of investment firms in supporting small and medium-sized enterprises. Bellatrix Investment Managers has previously supported hundreds of SMEs through its funding and support programmes, building a track record in early-stage business development.
The company operates as a NAMFISA-licensed unlisted investment management firm, offering alternative investment solutions across multiple asset classes, including private debt and equity. Its work is rooted in the belief that SMEs are central to economic development.
By supporting startups and growing businesses, the firm contributes to building resilient and inclusive economies. SMEs play a key role in providing livelihoods, stimulating innovation and driving job creation, while startups introduce new products, services and technologies that challenge existing markets.
The Ndjaba Seed Fund builds on this approach. Its name, Ndjaba, which means elephant in Oshiwambo, reflects its long-term vision to grow small businesses into large, resilient enterprises.
