Enza Capital wants Africa to build its AI with its new fund

Enza Capital has launched a specialized fund focusing on artificial intelligence (AI) startups and AI-enabled companies in Africa. The firm's managing partner, Mike Mompi, believes the technology shift of AI is crucial and needs to be harnessed to create value for a broad set of people. He argues that investing in AI in Africa now represents an incredible opportunity and even a responsibility.

The company's name, Enza, comes from a Zulu word meaning 'to build', 'to make', and 'to create'. To date, Enza has raised $58 million across its first two funds and made 75 investments in 47 companies across nine African countries. Despite AI accounting for 60% of global venture investment in 2025, only about 5% is found in Africa.

While Enza does not expect African startups to compete directly with global AI models due to the high capital required, it is focusing on companies that adapt AI to African conditions. This includes voice tools that understand local languages like Pidgin, smaller models trained on local data, and computing solutions that work despite patchy connectivity.

Enza refers to this strategy as the "constraint advantage," suggesting that products designed for Africa's limitations can also function effectively in other regions. The firm looks for deep market knowledge and a sustainable competitive advantage, such as unique data, established customer routes, or products seamlessly integrated into users' daily routines.

Additionally, Enza screens for cost efficiency, as AI startups incur expenses with every query their product processes. The firm supports companies with high margins or a clear path to profitability and anticipates that open models and cheaper local computing will help reduce costs.