VC fund profile · evidence-aware directory data
Enza Capital check size, stages and portfolio
Pan-African venture manager founded in 2019 with operations in Nairobi, Cairo and Johannesburg. Its first two funds backed 49 companies in 10 countries, according to November 2026 reports. Its third fund targets AI-native and AI-enabled startups; distinguish its first-close commitments from target capital.
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Reported initial check
$250K–$5M
The firm has published this range.
Manager-wide first-cheque range, not Fund III's $3M maximum or evergreen up to $20M.
Investment stages
Leads: Pre-Seed, Seed, Series A, Series B
Participates: Pre-Seed, Seed, Series A, Series B
Sector focus
Not recorded
Geography
Nairobi, Kenya; Cairo, Egypt; Johannesburg, South Africa
Founded 2019
Fund size / AUM
Not recorded
A separate fund-size evidence record is not yet available.
Portfolio in our directory
None yet
Linked startup profiles
Recent tracked investment
Not recorded
No dated round explicitly links this fund.
VCT investor research
Inside Enza Capital's investment strategy
Independent, source-backed analysis of who the firm backs, deal evidence and whether it fits your stage.
Enza Capital manager
Enza's official investment criteria cover pre-seed through Series B in African technology companies, with an ordinary first cheque of $250,000–$5M, typically $500,000–$2M. The manager says its average equity lead-investment process is approximately 2.5 months, but timelines vary. A distinct evergreen Growth Capital fund may invest up to $20M per portfolio company; this is not Enza Capital III capital.
On November 10–11, 2026, the manager disclosed a $21M first close for its third vehicle, Enza Capital III / AI Africa Fund. The fund seeks $60M with $80M maximum/hard cap and plans initial deployments in 2027. The company reported 49 investments in 10 countries through earlier funds and an exit involving Quro Medical in 2025. Those earlier portfolio figures are not Fund III commitments or realised returns.
Illustrative applicant path
- Confirm fit with African market problem, stage and sector.
- Approach the manager with team background, technology and actual customer validation.
- Prepare financial, compliance and commercial diligence; the manager says average deal cycles take about 2.5 months, not guaranteed.
- Negotiate valuation, ownership and investor governance; the manager may lead or co-lead.
- Agree future capital requirements; follow-on funding is possible but not promised.
Fund III-specific initial cheques are $250,000–$3M, different from the manager-wide maximum. LP names, close legal day, fee/carry and target final closing are not yet verified. Source: GP strategy, GP-emailed statement in Bloomberg, specialist press.
Sources and verification
Dated company disclosures take priority over third-party databases. These sources support the analysis above.
Rounds they lead
Rounds they invest
Last verified: 2026-11-12. Check-size evidence is labeled by basis so planning estimates are not presented as firm disclosures.
Last updated:
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