Enza Capital

Enza Capital is a Nairobi-based venture firm co-founded by Mike Mompi, with $58 million closed across two funds as of September 2023. Fund I was an early-stage vehicle launched in 2019, and Fund II is a multi-stage fund that can invest from pre-seed through Series A. The firm also operates Enza Growth Capital, an evergreen later-stage vehicle that can deploy up to $20 million per company for follow-on investments, which means Enza can stay with you from first cheque through growth stage.

The portfolio is one of the broadest among Africa-focused funds, with 48 investments across 31 companies spanning eight African markets. Portfolio companies include names like SeamlessHR, Djamo, Autochek, Peach Payments, Turaco, and Cloudline. The firm focuses on companies that are "organizing the offline online," which in practice means businesses digitizing industries that still run on paper, phone calls, and informal networks across the continent.

What makes Enza distinctive is the Founder Partner Program, launched in 2023, which allocates 10% of the firm's carry pool to portfolio founders as co-owners. Distribution is based on referrals, initial check size, and follow-on investments, which means portfolio founders have a direct financial incentive to refer strong deals and help each other succeed. This is one of the most founder-aligned structures in African VC.

The LP base is also notable for what it is not: Enza is not backed by the typical African development finance institutions. Instead, the firm raised from private individuals, family offices, foundations, fund of funds, hedge funds, and other venture capital funds, which gives them more flexibility in deal structure and fewer reporting constraints.

Note: Enza Capital maintains a lean team of eight people. Mbwana Alliy, founder of Savannah Fund (a predecessor vehicle), is associated with the broader ecosystem but his current role at Enza is not publicly confirmed.