The first close of the fund for climate tech venture capital firm Satgana has been announced. The fund’s goal size is EUR30 million (US $29 million), and investments will be made in Africa and Europe.
Satgana, a climate technology venture capital fund with its headquarters in Luxembourg, aims to invest in start-ups that are developing cutting-edge solutions to the climate emergency. With a focus on climate technology, Satgana invests in the upcoming entrepreneurs in Europe and Africa to help create a future that is more sustainable, just, and regenerative.
The fund will invest in 40 firms tackling the climate challenge in addition to the three planet-positive startups in which it has already made investments, including Kenya’s Mazi Mobility. The company makes investments at the pre-seed and seed phases of up to EUR500,000 (US $490,000). In addition to financing, it gives its portfolio direct operational and strategic support.
With the goal of assisting in the decarbonization of every area of the economy, Satgana is considering a wide array of alternatives. Food and agriculture, energy, mobility, industry and structures, carbon removal, and circular economy are some of the areas of concentration.
The fund has already attracted more than 30 LPs in its initial closing, primarily high-net-worth individuals and family offices. These investors include Elsa Hermal, co-founder of Epicery, Thibaud Hug de Larauze, CEO of impact unicorn Back Market, Josef Bovet, CEO of Tiller Systems, Fabrice de Gaudemar, CEO of Qotto, and Cullom Capital, a family office.