Satgana, a venture capital firm dedicated to supporting early-stage climate-tech startups, has successfully closed its inaugural fund at €8 million ($8.6 million). While falling short of its initial €30 million target due to the challenging fundraising environment, the firm remains committed to its mission of backing up to 30 innovative climate-tech companies across Africa and Europe.
The fund received investments from a diverse group of investors, including family offices and prominent individuals such as Thibaud Hug de Larauze, co-founder of Back Market, and Maurice Lévy of the Publicis Groupe.
Satgana focuses on investing in early-stage companies developing innovative solutions to mitigate and adapt to climate change. Key sectors of interest include mobility, food and agriculture, energy, industry and buildings, and the circular economy.
The firm has already deployed capital in 13 promising startups, including Kubik, an Ethiopian company transforming plastic waste into sustainable building materials, and Amini, a startup addressing the environmental data gap in Africa.
Despite the challenging fundraising environment, Satgana remains optimistic about its future. The firm plans to leverage this initial funding to build a strong track record and pave the way for future investment activities, potentially including region-specific funds.
The closure of Satgana’s fund highlights the growing interest in climate-tech solutions and the increasing importance of supporting early-stage innovation in this critical sector. With a focus on sustainable and impactful investments, Satgana is poised to play a key role in driving climate-tech solutions across Africa and beyond.
