Rally Cap VC expands into climate investing with new $5m fund
TLDR
- Rally Cap VC expands investment focus to include climate tech, with a $20 million fund dedicated to fintech ventures.
- The firm aims for a final close of $5 million for its Rally Cap Climate fund, which specializes in supporting software solutions for climate adaptation.
- Rally Cap provides cross-border support to its portfolio companies in African and Latin American markets, with plans to make around 50 investments in total.
Rally Cap VC, a venture capital firm with a $20 million fund primarily dedicated to fintech ventures, has expanded its investment focus to include climate tech. With the first close of its Rally Cap Climate fund at $2.5 million, the firm aims for a final close of $5 million.
Maintaining its core focus on African and Latin American markets, Rally Cap provides cross-border support to its portfolio companies, which include Amini, Circadian, Solfium, and Eli. Additionally, the firm is in the process of finalizing an investment in a Brazilian cleantech startup.
The Rally Cap Climate fund specializes in supporting software solutions for climate adaptation, prioritizing investments that require less capital and offer easier market penetration compared to hardware-intensive mitigation strategies. Typically, the fund invests between $50,000 to $100,000 in portfolio companies, with plans to make around 50 investments in total.
Key Takeaways
Over the past 18 months, several venture capital firms have introduced funds specifically dedicated to supporting startups in Africa's climate sector. Among them, the French VC firm Satgana recently achieved the initial closing of a $32 million fund earmarked for investments in startups operating in the energy, mobility, food, and agriculture sectors in 2022. Additionally, Catalyst Fund accomplished the initial closing of a $40 million climate fund this year, focusing on supporting ventures in the climate space. Equator also unveiled a fund targeting startups in the energy and mobility domains. Notably, EchoVC, following its launch of a blockchain fund seven months ago, has introduced its fund dedicated to climate ventures. This initiative is a result of over a year's worth of study and serves as a response to the scarcity of early-stage funding for Africa's startups with a climate focus.
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.