Climate technology may be popular right now, and for good cause, but Satgana, a new venture capital firm located in Paris (Satgana means “a nice company” in Sanskrit), hopes that its perspective on the topic will catch on.
In order to support entrepreneurs in sectors like food and agriculture, energy, mobility, and buildings/industry, as well as more broadly in carbon removal and circular economies, a target €30 million fund has just completed its first closing.
The fund will use its team, which consists of individuals with operational and strategic experience, to invest up to €500,000 in the pre-seed and seed stages throughout Europe and Africa. Additionally, it intends to pre- and post-invest using a “diversity and inclusion” viewpoint.
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According to the fund, two more investments will be made in climate tech businesses in the near future in addition to the three currently funded. These are:
- Orbio Earth is a German firm that is developing a platform for energy suppliers to use satellite data to monitor and minimise methane emissions.
- Mazi Mobility is a Kenyan firm that is developing an East African network of electric motorcycles and a battery-swapping infrastructure.
- Yeasty is a French firm that is developing an alternative protein using beer yeast in a circular format.
Satgana claims 30+ LPs participated in its first round, including Thibaud Hug de Larauze (co-founder and CEO of impact unicorn Back Market), Josef Bovet (CEO of Tiller Systems), Fabrice de Gaudemar (CEO of Qotto and ex-executive board member of Eurazeo), Elsa Hermal (co-founder of Epicery), and the family office Cullom Capital.
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The climate and ecological crisis is the defining issue of our time. As a gigantic challenge ahead of us, it is also a massive business opportunity as we need to reinvent all the sectors of our economies to meet the targets of the Paris Agreement,” Romain Diaz, general partner, said in a statement:
Patrcia Silva (headquartered in Lisbon), co-founder and non-executive director of the Carbon Removal Centre, will be Satgana’s Venture partner. Anil Maguru will be the investment director.
Lubomila J. (Plan A and co-founder of Greentech Alliance) and James Crowley are among the advisers (former co-founder and CTO of FundApps).
Satgana fund climate Satgana fund climate
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh