Nairobi-based Enza Capital has announced a first close of approximately $21 million for its AI Africa Fund, which aims to raise a total of $60 million, with a hard cap of $80 million. This initial sum represents 35% of the targeted amount.
The firm anticipates increasing commitments ahead of a final close planned for 2027, when it intends to begin making its first investments.
The AI Africa Fund will focus on investing in AI-native and AI-enabled companies ranging from pre-seed to Series B stages. Initial investments will range from $250,000 to $3 million, with provisions for follow-on funding. Key sectors for investment include financial services, healthcare, enterprise technology, education, agriculture, climate, and infrastructure.
Mike Mompi, co-founder and managing partner of Enza, stated, “For decades, businesses have struggled to serve large parts of Africa’s population economically. AI fundamentally changes that equation. It reduces the cost of building technology, delivering services and reaching customers.”
Enza Capital, established in 2019, has supported 49 companies across ten African nations through its previous funds. Its first significant exit occurred in 2025, when Netcare acquired a controlling stake in Quro Medical, a South African firm that provides hospital-level care at home via remote monitoring.
