Five35 Ventures Exits Complete Farmer at 3.5x Return in Rare African VC Realisation
Five35 Ventures has completed its first portfolio exit by selling its stake in Ghanaian agritech startup Complete Farmer, generating a reported 3.5x return on its investment. The exit is a rare concrete realisation event in African venture capital and is being cited as a signal of emerging returns in the continent's agritech sector.
African VC Exits: the proof is starting to stack up
Three documented exits in a matter of months — Beltone's 3.5x from Egyptian proptech, Eos Capital's 4.4x from Namibia, and now Five35's 3.5x from Complete Farmer — is not a coincidence. It's a dataset.
For years the knock on African venture capital was that returns were promised but never shown. A valuation jump from $6 million to $49 million over four years, with a 38% internal rate of return, is the kind of number that answers that charge directly.
The question now isn't whether African startups can generate returns. It's whether this cluster of exits is enough to bring the next wave of institutional investors in — before the founders who built these companies have to go elsewhere to find them.
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- Five35 Ventures completes 1st portfolio exit, generates 3.5x return from Complete Farmer investment · disruptafrica.com · T1