Namibia-based investment firm Bellatrix Investment Managers has launched a $10 million venture capital fund aimed at backing early-stage startups across Southern Africa, as funding for smaller African startups continues to shrink.
The Ndjaba Seed Fund will invest in between 35 and 50 startups over the next decade, the firm said on Wednesday. The fund will target sectors including fintech, agritech, healthtech, education, clean energy, e-commerce, and enterprise software.
The launch comes as founders across Southern Africa struggle to secure early-stage capital. Startups raising less than $1 million accounted for only 2% of total startup funding in Africa in 2025, according to TechCabal Insight’s State of Tech in Africa report.
Funding in Southern Africa has also remained heavily concentrated in South Africa. Smaller markets such as Namibia have attracted limited venture capital despite rising startup activity in the region.
“Southern Africa has a strong pipeline of entrepreneurs with the potential to build impactful businesses. However, access to early-stage capital remains limited,” Bellatrix Managing Director Jesaya Hano-Oshike said.
Founded in 2020 in Windhoek, Bellatrix focuses on startup financing, SME lending and impact investments. The company said the Ndjaba Seed Fund is its first dedicated venture capital vehicle.
Bellatrix said it has already deployed more than $30 million in debt and concessional financing to over 500 businesses in the past five years.
The fund plans to invest between $25,000 and $100,000 in pre-seed startups. Seed-stage companies can receive between $100,000 and $350,000. Some investments could rise to $500,000, with additional follow-on funding reserved for stronger-performing startups.
The firm said it will mainly invest through equity but may also use convertible debt and SAFE agreements for early-stage deals.
Beyond financing, the fund plans to support founders through mentorship, governance guidance and investor introductions. Bellatrix also plans to work through the Basecamp Business Incubator, a Namibian startup hub focused on mentorship and investment readiness.
The firm said it is already speaking with founders ahead of a wider application process tied to the fund’s rollout.
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo
- Adeoluwa Onaolapo












































