Climate tech VC Satgana closes fund for early-stage African startups
TLDR
- Satgana, a climate tech-focused VC firm, has successfully closed its first fund of $8.6 million to support 30 early-stage startups in Africa and Europe.
- Overcoming fundraising challenges, Satgana has already made 13 investments and remains committed to backing 30 companies in this fund, including follow-on investments.
- The strategic decisions made by Satgana reflect resilience and confidence in their ability to execute their investment strategy in the current funding landscape.
Satgana, a venture capital (VC) firm specializing in climate tech solutions, has closed its inaugural fund, targeting $8.6 million. This fund will go towards supporting up to 30 early-stage startups across Africa and Europe.
The decision to settle on the final closing amount reflects a strategic move by Satgana, considering the prevailing fundraising landscape, which has posed notable challenges for first-time fund managers.
Despite these obstacles, Satgana has demonstrated resilience, already making 13 investments and maintaining confidence in its ability to execute its strategy of backing 30 companies in this initial fund, including follow-on investments.
Key Takeaways
Satgana is part of a rising cohort of climate tech-focused funds concentrating on Africa, joining notable initiatives such as Novastar Ventures' Africa People + Planet Fund, Equator's fund, and the Catalyst Fund. This growing investment emphasis holds promising prospects for the continent's capacity to address climate change and foster a sustainable future. The VC firm commits up to €300,000 ($325,000) to early-stage startups dedicated to mitigating and enhancing resilience to climate change. It particularly favors startups operating within the mobility, food and agriculture, energy, industry, buildings, and circular economy subsectors. Such targeted investments are essential for catalyzing innovation and driving impactful solutions to combat climate change across various sectors in Africa.
Think someone else should see this?
To invest in this opportunity and other opportunities across Africa
Download the daba finance app on your mobile through
Take action.
Download app
Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.
Partner with us
Unlock exciting business opportunities and growth potential.
Join Daba
Become a part of our vibrant community and enjoy exclusive benefits.
Contact us
Reach out to us for inquiries, support, or collaboration.