This study systematically reviews extant contemporary literature on digital entrepreneurship in peer-reviewed journal articles over six years (2013–2018) from six journal databases. It involved a systematic literature review of 101 papers from 53 journals focusing on the publication outlets, yearly trends, themes, and associated theoretical and conceptual approaches, methodologies, sources and geographical distribution of digital entrepreneurship research. The findings suggest that extant literature mostly lacked sound theoretical underpinnings. More work adopting appropriate and proven theoretical approaches is needed. Most of the reviewed papers also focused mainly on issues relating to the technology itself than those relating to the enterprise or the entrepreneur. The capabilities and capacities of enterprises, as well as the strategies in implementing digital technologies and harnessing the opportunities of digitalization, are key issues that have not hitherto received much attention. The study contributes to the understanding of the conceptualization of the digital entrepreneurship phenomenon. Future research should consolidate the understanding of the field, with models and frameworks that recognize digital entrepreneurship as an academic research field in its own right, and also consider the impact of enterprise capabilities and capacities on digital entrepreneurship.