Enygma Ventures, an investment company that operates in Africa, Europe, and the United States has launched a $6.8 million fund to support female-owned startups in South Africa. The launch was in a bid to close the funding gap for female entrepreneurs in the country.
Enygma Ventures was founded in 2019 by Sarah and Jacob Dusek. The Venture aims at rebuilding investment globally as it empowers, mentor, and funds female entrepreneurs in South Africa. Being in its initial stage, the initiative will begin by disbursing its $6.8 to startup and commit more with time.
The CEO of Enygma Ventures, Sarah Dusek described the fund as a means to combat the difficulties encountered by women when launching out into the business world. These, including her experience when she was starting as an entrepreneur, spurred her to create the VC to provide tailored support.
See also: 10 African Techpreneurs Emerge Finalists of Africa Netpreneur Prize Initiative
Unlike other venture capital funds that concentrate on tech startups only, Enygma Venture fund cuts across all sectors of businesses and will be managed by its partners – the Africa Trust Group CEO and Cofounder, Lelemba Phiri and Sandras Phiri.
The Ventures Capital will begin its first training in January 2020 by selecting and training 10 female entrepreneurs. The selected women will be enrolled in a six-month investor readiness programme where their ideas will be developed while they receive the required fund.
Female entrepreneurs interested in applying for the fund should click here
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