Venture capital firm Satgana announces the first financial closing of its climate fund. The €30 million raised will be used to finance start-ups that innovate in the face of climate change in Africa and Europe.
Satgana’s venture capital fund aims to support start-ups that offer concrete answers to the climate emergency. For its first round of funding, the financing mechanism obtained 30 million euros. The funds are being raised from 30 investors, mainly high net worth individuals and managers of large fortunes such as Thibaud Hug de Larauze, the co-founder of the impact unicorn Back Market specialising in the circular economy, Josef Bovet, the CEO of Tiller Systems, or Cullom Capital, a fund manager that finances technology in Africa and Europe.
So far, the venture capital firm Satgana has invested in start-ups offering sustainable development solutions. With the recently raised funds, the Luxemburg-based company wants to support emerging start-ups that offer solutions for climate change mitigation, adaptation and resilience.
“It is a huge challenge ahead of us, but it is also a great business opportunity, as we need to reinvent all sectors of our economies to achieve the goals of the Paris Agreement. There has never been a better time to build and invest in climate technologies, thanks to an unprecedented influx of talent and capital into this space,” says Romain Diaz, General Partner at Satgana.
The company, which invests up to €500,000 in the pre-seed and seed stages, plans to support 40 start-ups over the coming years in the food and agriculture, green mobility, energy, circular economy, industry and construction sectors, etc. In Africa, Satgana has already invested in the start-up Mazi Mobility. In Kenya, the young company is setting up a network of electric motorbikes and a battery exchange infrastructure.
Jean Marie Takouleu