Enygma Ventures Launches Fund for Women in South Africa

Enygma Ventures, a US venture capital (VC) fund, has launched an investment programme for women entrepreneurs in Southern Africa.

Ventures seek to invest in women-led and established companies in Africa. The fund, according to Lelemba Phiri, operating partner of Enygma Ventures, aims to help female innovators.

“We are industry agnostic, which means we invest in any sector where women are thriving. We are passionate about driving progressive change on the African continent.”

The venture capital fund expects to invest in women-led businesses in key SADC markets like Tanzania and Malawi this year.

“We want to widen our net this year as our fund mandate covers all 16 countries in the SADC region. This quarter we are particularly looking to increase participation from key markets like Tanzania and Malawi which have in the past recorded fewer VC investments, yet have exciting opportunities,” adds Phiri.

Enygma Ventures

Enygma Ventures was founded in October 2019, and has been investing in African startups since it entered the scene.

Sarah Dusek, co-founder and managing partner of Enygma Ventures, discusses how the venture capital company came to be.

“With just a fraction of global venture funds being deployed across the continent, Africa is an extraordinary opportunity. We established Enygma because we wanted to tackle inequality through 3 lenses – gender, race, and geography. Thus investing diversely, not only from a gender perspective but also a race and geography perspective, was important to us.”

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Investment applications

Applications for investment are open three times a year and shortlisted entrepreneurs are supported via investor readiness programmes and more.

Interested entrepreneurs are encouraged to visit Enygma Ventures.
Three times a year, application for investment is available, and shortlisted entrepreneurs are funded by investors preparation programmes and other tools
Entrepreneurs who are interested should visit Enygma Ventures.