Startup Circles Secures R2.1-million Investment from Enygma Ventures

US Venture Capital fund, Enygma Ventures has announced a strategic investment into the development of the African startup ecosystem by investing R2.1-million in the South African company Startup Circles, an innovative practical business school for entrepreneurs that assists entrepreneurs in scaling their business and becoming investor-ready.

Sarah Dusek Managing Partner of Enygma Ventures explains that the investment is a strategic commitment to the local entrepreneurial ecosystem.

“We’ve been incredibly impressed by the talent of African entrepreneurs but sometimes the difference between being investable and having a scalable business is just knowledge and know-how. Startup Circles is closing the gap for emerging market entrepreneurs to help them shine and build impactful, profitable businesses. We are delighted to be not just investing in entrepreneurs but also in developing the ecosystem.” 

Startup Circles

Founded by Sandras Phiri, Startup Circles provides practical straight-to-the-point education for busy entrepreneurs and only has founders and investors as educators. The company democratizes access to investors as all its students have a chance to pitch to investors who are looking to make investments. 

They claim to have supported over 5 000 entrepreneurs across Africa in 2020 and plans to expand its reach over the next few years. Offering accessible courses from $67 upwards to the growing entrepreneurship community, the innovative platform is assisting the ecosystem and entrepreneurs.

Sandras Phiri Founder and CEO comments on the funding secured.

“We are so delighted to be partnering with Enygma Ventures to grow businesses in Africa. I truly believe Africa is primed for significant development in the decade ahead and that will largely come from the growth of SMEs.”