Entrepreneurship Zone: 26 November 2024: How this African-focused investor made her millions

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Entrepreneurship Zone: 26 November 2024: How this African-focused investor made her millions

 


 

 




 


 

 


 

 

Sarah Dusek

Interview with Sarah Dusek
CO-FOUNDER, ENYGMA VENTURES

Lives in: Cape Town, South Africa (travels between the US and South Africa)

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Sarah Dusek is the founder of Enygma Ventures, a venture capital fund that invests in women-led businesses in sub-Saharan Africa. Among its investments is Eswatini-based Black Mamba, a chilli sauce manufacturer, which received R9.2 million (approximately $526,000). Black Mamba exports globally to markets such as the UK, Norway, and Germany. Enygma has also backed Play Sense, a South African early childhood education business, with a R8.3 million (roughly $470,000) investment, and committed $1 million to Zambia-based microfinance company Lupiya.

Only about 1.5% of venture capital raised in Africa between 2019 and 2023 went to female-led startups, a figure slightly below the 2% secured by their counterparts in Europe and the US. One of the biggest problems, says Dusek, is that many women globally – despite talent, education and ambition – lack the critical understanding of what it takes to build a big business and attract the requisite funding to grow it at scale.

However, before entering the venture capital world, Dusek and her husband co-founded Under Canvas, a luxury camping business that they eventually sold for $100 million. What began with just four tents evolved into a high-end glamping operation, offering premium camping experiences near US national parks. Through years of refining their model, the business became a major player in the outdoor hospitality sector.

In a recent interview with AfricanOptimist’s Sanja Göhre, Dusek shared insights into how she transformed what was intended to be a small family business into a multi-million dollar enterprise that redefined luxury camping. She also discussed her commitment to using the proceeds from the Under Canvas sale to back women-led businesses across sub-Saharan Africa.

Highlights from the interview include:

·         How working in Zimbabwe was inspiration for her business idea

·         Why her first business attempt with tents failed

·         Overcoming doubts and embracing risks

·         Understanding venture capital

·         Why she tells entrepreneurs to think and pitch $100 million big

—Howwemadeitinafrica

 

 


 


 


 

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DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from sources believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other  Indices quoted herein are for guideline purposes only and sourced from third parties.

 


 

 


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