{"id":9345,"date":"2026-10-20T16:30:48","date_gmt":"2026-10-20T15:30:48","guid":{"rendered":"https:\/\/techstream.africa\/?p=9345"},"modified":"2026-10-20T16:30:48","modified_gmt":"2026-10-20T15:30:48","slug":"five35-ventures-scores-3-5x-return-on-complete-farmer","status":"publish","type":"post","link":"https:\/\/techstream.africa\/?p=9345","title":{"rendered":"Five35 Ventures Scores 3.5x Return on Complete Farmer"},"content":{"rendered":"\n
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Five35 Ventures has recorded a significant milestone in African venture capital after generating a 3.5-times return on its investment in Ghanaian agricultural technology company Complete Farmer.<\/a> The successful exit marks the investment firm\u2019s first portfolio exit and offers an example of how backing technology-driven businesses addressing agricultural challenges can produce financial returns alongside wider economic benefits.<\/p>\n\n\n\n

Five35 invested in Complete Farmer in April 2022 and exited its investment in March 2026. Over the four-year period, the firm reported a 38 per cent internal rate of return, while Complete Farmer\u2019s valuation increased from $6 million to $49 million. The buyer and the precise value of the exit were not publicly disclosed.<\/p>\n\n\n\n

The transaction provides Five35 with a realised investment outcome rather than relying solely on increases in the paper valuations of companies within its portfolio.<\/p>\n\n\n\n

Complete Farmer operates a digital agricultural platform that connects farmers with buyers while providing access to agricultural inputs, technical support and contracted demand. Its model aims to address longstanding problems in African agriculture, including unreliable markets, unpredictable pricing and fragmented supply chains.<\/p>\n\n\n\n

By connecting agricultural producers with business customers, the company seeks to make it easier for farmers to access markets while helping buyers source agricultural commodities more reliably.<\/p>\n\n\n\n

These challenges present an opportunity for technology-enabled businesses. Farmers may struggle to secure dependable buyers, while food processors and other commercial customers need consistent supplies of agricultural produce. Platforms that help bridge this gap can create value for both sides of the market.<\/p>\n\n\n\n

For investors, Complete Farmer offered exposure to a sector where technology can address practical commercial problems while supporting agricultural productivity and market access.<\/p>\n\n\n\n

Beyond financial performance, the investment reflects Five35 Ventures\u2019 commitment to gender-lens investing. This approach considers how women participate in and benefit from a business, not just whether women own or lead the company.<\/p>\n\n\n\n

When Five35 invested in Complete Farmer, women represented 55 per cent of its farmer network, 80 per cent of its post-harvest workforce and 43 per cent of its core team. By the time of the exit, women occupied half of the company\u2019s board seats. Complete Farmer had also served 12,628 business-to-business customers and created 77 direct jobs.<\/p>\n\n\n\n

These figures demonstrate how the company\u2019s growth coincided with women\u2019s participation across its agricultural value chain. For Five35, the investment provides an example of pursuing commercial returns while supporting broader economic inclusion.<\/p>\n\n\n\n

Five35 Ventures is backed by the Mastercard Foundation Africa Growth Fund, a $200 million fund-of-funds established to strengthen African-led and women-led investment vehicles. Rather than investing directly in startups, the fund supports investment managers who select and finance businesses with growth potential.<\/p>\n\n\n\n

The Complete Farmer exit offers evidence that this investment approach can produce measurable financial outcomes. It also highlights the importance of successful exits in African venture capital, where investors need opportunities to realise returns and recycle capital into new businesses.<\/p>\n\n\n\n

However, one successful exit does not establish the long-term performance of an investment strategy. Replicating such returns across different companies, sectors and market conditions will be essential to demonstrating its sustainability.<\/p>\n\n\n\n

For Five35 Ventures, the transaction represents a meaningful step in building its investment record. For African agritech, it highlights the potential of businesses that combine technology, market access and operational support to address structural challenges in food production and distribution.<\/p>\n\n\n\n

The 3.5-times return is more than a financial milestone. It provides a concrete example of how targeted investment in African businesses can generate returns while supporting job creation and wider economic participation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Five35 Ventures has recorded a significant milestone in African venture capital after generating a 3.5-times return on its investment in Ghanaian agricultural technology company Complete Farmer. The successful exit marks the investment firm\u2019s first portfolio exit and offers an example of how backing technology-driven businesses addressing agricultural challenges can produce financial returns alongside wider economic…<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9345","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/posts\/9345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/techstream.africa\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9345"}],"version-history":[{"count":1,"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/posts\/9345\/revisions"}],"predecessor-version":[{"id":9347,"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/posts\/9345\/revisions\/9347"}],"wp:attachment":[{"href":"https:\/\/techstream.africa\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techstream.africa\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techstream.africa\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}