Equator Receives USD 40 M In Commitments For Fund Targeting Climate Tech startups In Africa

Equator, a climate tech venture capital firm focused on sub-Saharan Africa, has received part of its first fund with USD 40 M in commitments from limited partners including BII, the Global Energy Alliance for People and Planet (GEAPP), the Shell Foundation and impact investor DOEN Participaties. The fund is targeting technical founders with domain expertise who are building solutions around clean energy, agriculture and mobility, and who ultimately address the impact of climate change on income inequality in Africa.

The fund will pay attention to technical founders with domain expertise who are building solutions around clean energy, agriculture and mobility, and who ultimately address the impact of climate change on income inequality in Africa. Equator aims to make up to 15 investments throughout this fund’s life cycle. The company said it participates in round sizes of USD 10 M or less. For seed stages, the clean tech VC invests between USD 1 M and USD 2 M; for Series A stages, it cut checks between USD 2 M and SD 4 M. The firm, which has teams in Nairobi, Lagos, London and Colorado, will also leverage support from Factor[e] Ventures, an organization of venture builders and pre-seed investors.