Delta40 Raises USD 20 M To Build & Support Innovative Ventures Across Africa

Delta40, a Nairobi- and Lagos-based venture studio and fund founded by Lyndsay Holley Handler, has raised USD 20 M in what it describes as Africa’s first institutional venture studio fundraise.

Backed by global investors including FMO, Soros Economic Development Fund, and Livelihood Impact Fund, the raise brings together 54 investors across 13 countries, notably featuring 25 founders and 14 African investors.

Unlike traditional, hands-off VC models, Delta40 combines early-stage capital with embedded operational support, investing USD 100 K–USD 500 K from idea to Seed while acting as an extension of founding teams. The model has already delivered 5.5x capital leverage across a 16-company portfolio spanning energy, agriculture, fintech, and AI-enabled ventures operating in 30+ African countries.

The capital will be used to expand Delta40’s studio capacity and scale its portfolio, as the firm positions itself as a long-term builder of pan-African companies rather than a passive capital allocator.