How Five35 Ventures made 3.5 times its investment on Complete Farmer
Five35 says selling its stake in Complete Farmer returned 3.5 times its money, an internal rate of return of 38% over four years.
In April 2022, gender-focused venture capital firm Five35 Ventures invested in Ghanaian agritech company Complete Farmer, which links smallholder farmers to buyers, inputs, and financing. Four years later, in March 2026, the firm sold its entire stake in Complete Farmer, returning 3.5 times its initial investment, resulting in a 38% internal rate of return over the period.
Complete Farmer's valuation grew from $6 million to $49 million during the same timeframe. Five35 is a pan-African fund investing in pre-seed and seed-stage tech-enabled companies, with a focus on markets beyond Nigeria, Kenya, Egypt, and South Africa.
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