Women-led startups in Southern Africa can now pitch to Enygma Ventures, a R100-million ($6.8) venture capital (VC) fund which will invest up R2-million in women led startups from the Southern African Development Community (SADC).

Here Is All You Need To Know

• The fund was founded by husband and wife duo Sarah and Jacob Dusek who are the founders of US adventure-hospitality firm Under Canvas.
• The US-based fund will be run locally by operating partners and husband and wife team Lelemba and Sandras Phiri of the Africa Trust Group.

Engyma Ventures will hold a three to six-month investor readiness programme in January

Lelemba Phiri, who is the Africa Trust Group principal said  the sector agnostic fund will hold a three to six-month investor readiness programme which will kick off at the end of January next year.

How To Apply

• Applications are open to women-founded or led ventures and will close on 1 December.
• To be considered for the programme, applicants must have scalable SADC-based businesses with a proven revenue model and business concept.
• In addition, the ventures must have demonstrated growth and be looking for early-stage or growth capital.

Read also: Why More South African Startups Have Raised Funds This Year

First Batch of Investment Will Be In 10 Women-Led  Startups

Phiri pointed out that Enygma Ventures is the first VC fund that is focused on investing in women startups in the Southern Africa Development Community region.

“We’re taking 10 women entrepreneurs in this first cohort and depending on how ready they are at entrance we will look to invest within that six months,” she said.

Sarah Dusek, commenting in an earlier statement, said she is understands the unique struggles and challenges of building a big business, being a founder and CEO herself.

Added Dusek: 

“We want to help women think big. We will create flexible financial solutions for them with efficient and strategic deployment of capital whilst also providing helpful tailored support.”

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world