Enygma Ventures launches new fund to invest in post-pandemic innovation

Enygma Ventures has launched an R20 million (about $1.1 million) new fund towards startups with post-pandemic innovative solutions. The fund is open to entrepreneurs and innovators from the African continent.

Enygma Ventures will provide seed funding to startups who are creating innovative solutions to address problems that may remain in a post-Covid-19 world.

“We have decided to launch our new Shift Fund as the current crisis has given a rare opportunity for large scale changes in the world. Suddenly, we have a period in which we can influence change for good,” says Jacob Dusek, general partner and co-founder of Enygma Ventures. “It’s time to redefine normal and in the process, create a better normal.”

Through this sub fund, Enygma Ventures is expecting to provide seed capital for 20 to 40 startups as well as mentoring, training and business validation scholarships through Startup Circles. Startup Circles is an online platform that helps entrepreneurs quickly move from ideation, to validation, to startup, to investor-ready.

Sandras Phiri, founder and CEO of Startup Circles comments, “Previously, you needed to be in a startup hotspot like Cape Town or Nairobi to gain access to the right circles of mentors and investors. But now with Startup Circles, entrepreneurs have the same access to opportunities, mentorship and investment whether they are in Lilongwe or Luanda, male or female. Anybody with access to the internet can apply to access startup support and funding.”

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