Ndjaba Seed Fund

A US$10 million venture fund from Windhoek-based Bellatrix Investment Managers, set up to back 35 to 50 startups over ten years in what it calls Southern Africa’s capital desert. It invests money for a share of the company, not loans, and offers follow-on funding to the companies that grow.

US$25,000 to US$350,000 per startup (up to US$500,000 in select cases). Bellatrix Investment Managers. No public call yet: Launched in May 2026. Bellatrix was reported to be meeting founders through its networks and the Basecamp Business Incubator ahead of a formal application process; we found no open application window.

The terms

  • Pre-seed tickets of about US$25,000 to US$100,000; seed tickets of about US$100,000 to US$350,000
  • Up to US$500,000 initially in select cases, according to some reports, with follow-on funding available
  • Equity: the fund takes a shareholding, so you give up part of the company rather than take on a repayment
  • A ten-year fund life, the usual horizon for a venture fund to invest and exit

Who qualifies

Early-stage startups in Namibia, Botswana and Zambia that can grow across the region

  • Early-stage companies, with Namibia, Botswana and Zambia as primary markets and the wider region after that
  • Target sectors named at launch: fintech, agritech, healthtech, clean energy and enterprise software
  • A business that can grow well beyond one town: venture funds need a few large winners, not many small steady ones

What to prepare

  • A Private Company (Pty) with a clean share register: investors buy shares, and a Close Corporation has members, not shares
  • A short pitch deck: the problem, your product, who pays, traction so far, the team, how much you are raising and what it buys
  • Evidence of traction: paying customers, signed pilots or usage numbers, not projections alone
  • Tax and Social Security registrations in good standing, and a business bank account with real transactions

What actually decides it

Traction and team. A venture fund backs a small number of companies it believes can become very large, so it reads evidence that customers pay and that the founders can execute. A company already structured to take an investor, with its compliance current, removes the first reasons to say no.

How to apply

Watch Bellatrix and the Basecamp Business Incubator for the formal application call, and build the relationship before it opens. Pitch events such as the NABAN quarterly pitch, which Bellatrix has partnered on, are a practical way in.

One Namibian newspaper reported the tickets in Namibia dollars with different figures and spelled the fund “Njaba”. The US dollar ranges above are the ones most outlets, including the fund’s launch coverage, agree on.

Get the paperwork right before you apply

A registered business: Close Corporation N$1,300 or Private Company N$5,500, government fees included

NamRA and Social Security registrations: N$300 each

Current Good Standing certificates: N$300 per certificate, or N$800 a month to keep all of them current

Frequently asked questions

How much can I get from Ndjaba Seed Fund?

US$25,000 to US$350,000 per startup (up to US$500,000 in select cases). Pre-seed tickets of about US$25,000 to US$100,000; seed tickets of about US$100,000 to US$350,000.

Who qualifies for Ndjaba Seed Fund?

Early-stage startups in Namibia, Botswana and Zambia that can grow across the region. Early-stage companies, with Namibia, Botswana and Zambia as primary markets and the wider region after that. Target sectors named at launch: fintech, agritech, healthtech, clean energy and enterprise software. A business that can grow well beyond one town: venture funds need a few large winners, not many small steady ones.

Is Ndjaba Seed Fund open now?

No public call yet. Launched in May 2026. Bellatrix was reported to be meeting founders through its networks and the Basecamp Business Incubator ahead of a formal application process; we found no open application window.

How do I apply to Ndjaba Seed Fund?

Watch Bellatrix and the Basecamp Business Incubator for the formal application call, and build the relationship before it opens. Pitch events such as the NABAN quarterly pitch, which Bellatrix has partnered on, are a practical way in.

What do I need to prepare?

A Private Company (Pty) with a clean share register: investors buy shares, and a Close Corporation has members, not shares. A short pitch deck: the problem, your product, who pays, traction so far, the team, how much you are raising and what it buys. Evidence of traction: paying customers, signed pilots or usage numbers, not projections alone. Tax and Social Security registrations in good standing, and a business bank account with real transactions.

Sources

  • TechCabal, 6 May 2026: Namibia-based firm to back early-stage Southern African startups with $10 million fund
  • Launch Base Africa, 12 May 2026: Bellatrix launches $10M fund to tackle Southern Africa’s capital desert
  • Disrupt Africa, 11 May 2026: Namibian investment firm launches $10m VC fund
  • Innovation Village: Bellatrix launches $10M Ndjaba Seed Fund

Checked 2026-11-11. All funders.