European VC Names New Partner to Back Climate Startups in Africa - Our Takeaway

Highlights

• Europe-based climate-tech VC Satgana has appointed Anil Maguru, formerly an investment director at the firm, as its newest partner. Satgana, which emerged out of stealth last year, invests in climate startups in Europe and Africa.
• Maguru joined the VC firm at inception three years ago and at 28, he becomes one of the youngest VC partners in Europe, and among the less than 10% Black fund managers in the world. 
• He also previously worked at a Paris-based family office, where he was in charge of investing and managing a €20 million portfolio including private equity, venture capital, real assets, and philanthropy.

Source: TechCrunch

Our Takeaway

Satgana is part of the expanding roster of funds targeting the African climate tech sector, a movement gaining momentum amidst a slowdown in VC funding. In November, it launched a $33 million fund. Other noteworthy funds in this space include the Africa People + Planet Fund from Novastar Ventures, which is geared towards backing startups that are pioneering agriculture and climate solutions on the African continent. Equator’s fund has its sights set on nurturing seed and Series A startups within the energy, agriculture, and mobility sectors, while the Catalyst Fund has been established with the objective of fortifying climate innovation.