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clime tech VCSatganahas reach a last close of its first fund , which aims to back up to 30 former - stage startups in Africa and Europe .
The VC firm reached a final close of € 8 million ( $ 8.6 million ) following commitments from family offices and high - final - worth individuals , let in Maurice Lévy of the Publicis Groupe , and Back Market co - founder Thibaud Hug de Larauze .
Satgana founder and universal partner , Romain Diaz , secernate TechCrunch that the firm resolve to shut down the fund too soon , missinginitial targetsowing to the hard fundraising environment , which is worse for first - clip store director , to concenter on investing and corroborate portfolio fellowship .
“ We found the stock mid-2022 , and we have raised in the most ambitious time since 2015 . We have managed to make 13 investments and we know that with the current Das Kapital commitments , we can execute upon our scheme of seat in 30 companionship in this first stock , including follow - on investments , ” say Diaz .
“ This also paves the way for a new stock in a few old age , and it ’s likely that we found dissimilar funds with different scheme , maybe one for Europe and another for Africa — but that will derive in after ; for now , we are really focused on sire this fund aright , ” he said .
The VC house invest up to € 300,000 ( $ 325,000 ) in early - stage startup working on mitigating and building resilience to climate change , with a bias for mobility , food and agriculture , free energy , diligence , edifice and the circular thriftiness subsectors .
African mood startup set to make headway ground as VC fund shifts their mode
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Its investees in Africa includeAmini , a inauguration bridge over the environmental data col in Africa ; Mazi Mobility , a Kenyan mobility - as - a - service startup working to develop a internet of barrage fire - swapping infrastructure;Kubik , which upcycles plastic and has operations in Ethiopia ; and Revivo , a B2B marketplace selling electronic bare part giving products like telephone set a new lease on life . In Europe , Satgana has invested in Orbio Earth , Yeasty , Loewi , Arda , Fullsoon and Fermify .
Diaz found the VC business firm after a decade of experience in the venture blank in several African countries , including Morocco and South Africa , where he co - founded and run a venture studio .
“ I lam it for like five geezerhood , and about six years ago I started to really have the wakening to the extent of climate change . That ’s where I decided to channel all the knowledge from my previous experience , but on a big musical scale , while focusing exclusively on investing in climate tech beginner , ” he said .
Diaz found the VC firm upon move to Europe , where he said there are decent investiture networks , especially those focused on investment targeting founder at the pre - seed stage .
Satgana ’s focus on Africa was also driven by the fact that it is the most vulnerable continent despite contributing the least amount of greenhouse gaseous state emission . They recently appointedAnil Maguru as partnerto force their Africa scheme .
“ We are entering the continent to pursue green growth aim ; so deploying renewable energy , low carbon construction , mobility solutions and so on . But we are also keen on investment driving adaptation to climate variety , because unfortunately , the reality is that mood change is upon us , and we call for root already . This is especially for people on the frontline , who are often vulnerable community , mainly charwoman , people of color and low - income communities that are more debunk to the force of climate alteration , ” said Diaz .
“ From an impact view , it ’s important for us to invest in solution , which [ traditionally ] receive only a tiny fraction of VC money , ” he said .
Satgana is among the new investment company that are dedicated to the African climate tech sector . These funds includeAfrica People + Planet Fundby Novastar Ventures , Equator ’s fundand theCatalyst Fund .
