This Luxembourg-based VC firm plans to invest in climate-focused tech startups in Africa

Luxembourg-based climate tech-focused venture capital firm, Satgana has announced the first closing of its fund, with a EUR30 million (~$29 million) target size, and plans investments in Africa and Europe.

• With the close of its first fund, Satgana plans to invest in startups providing technological solutions to the climate emergency. In a statement, the firm disclosed that it invests in the next generation of entrepreneurs, in Europe and Africa, building a more sustainable, equitable and regenerative future.
• Satgana is looking to back tech startups intending to help decarbonise all the sectors of the economy. Areas of focus include food and agriculture, energy, mobility, industry and buildings, carbon removal, and circular economy.
• The VC firm invests up to EUR500,000 (~$490,000) at the pre-seed and seed stages. Beyond capital, it provides hands-on operational and strategic support to its portfolio.
• The fund has already invested in three planet-positive startups, including Kenya’s Mazi Mobility, and will invest in 40 startups addressing the climate crisis.
• The fund counts more than 30+ LPs in its first closing, mainly made up of high net worth individuals and family offices, 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 of Eurazeo), Elsa Hermal (co-founder of Epicery) and the Family Office Cullom Capital.