Delta40, a start-up creation studio focusing on Africa, has been created by Factor[e] Ventures, a team of company builders investing in early-stage start-ups in Sub-Saharan Africa and Southeast Asia.
Delta40 will be committed to improving incomes and combating climate change in Africa by establishing and investing in technology firms.
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“A decade of investing in energy, agriculture, mobility and water innovations in emerging markets has confirmed that there is a great opportunity at the startup stage to support local and diverse founders when they connect their technologies and markets,” said Morgan DeFoort, co-founder of Factor[e] Ventures.
Delta40 will thus invest between $100,000 and $600,000 in the formation and support of African start-ups focusing in energy, agribusiness, and transportation. According to Partech’s 2022 Africa tech VC report, these industries account for 8% of overall financing on the continent.
Factor[e] Ventures hopes that by launching Delta40, it will increase those figures and encourage investors to support even more start-ups in these fields. Delta40 will function as a co-founder in addition to providing money, offering product testing, technology brokerage, and early-stage commercialization, and striving to speed business formation.
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Delta40 has already received financing and backing from a number of commercial and public organisations, including the Autodesk Foundation, the Global Energy Alliance for People and Planet, and the climate technology legal firm Wilson Sonisi. The business development studio will be headquartered in Kenya, with activities in Nigeria.
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