Kenya-based VC firm Factor[e]Ventures has launched Delta40, a new venture studio that aims to increase incomes and tackle climate change in Africa by building and investing in technology ventures.
Factor[e]Ventures invests in and supports early-stage technology companies working in energy, agriculture, water, and mobility in emerging markets, and its new venture studio Delta40, which will be based in Kenya with operations in Nigeria, will work side-by-side with African and female founders to develop and scale disruptive innovation to increase incomes and tackle climate change.
Delta40 focuses on technology-driven energy, agriculture, and mobility ventures led by diverse, experienced founders. In addition to capital, Delta40 acts as a co-founder, providing fast, iterative product testing, technology brokering, early-stage commercialisation, and working side-by-side to increase the speed of venture building.
The venture studio secured early funding and strategic support from Autodesk Foundation and the Global Energy Alliance for People and Planet (GEAPP), a collective action platform partnered with The Rockefeller Foundation, IKEA Foundation, and Bezos Earth Fund, leading climate tech law firm Wilson Sonisi, as well as government, private sector, and finance institutions.
US ambassador to Kenya and iconic chief executive Meg Whitman spoke at the launch event, highlighting the pioneering mix of talent, technology, capital, and hands-on support the Delta40 team will provide African founders and startups innovating to solve the biggest problems.
“By 2100, 40 per cent of the world’s population will live in Africa. This presents an incredible opportunity – and imperative – to invest in entrepreneurs on the ground developing life-changing climate innovations. We are launching the Delta40 Venture Studio to connect African and female founders with the technology, talent, capital and leadership support they need to build successful companies and thrive. Together with our founders, we aim to build a portfolio of transformative ventures across this important continent that improve lives, amplify the entrepreneurial ecosystem and protect the planet for generations to come,” said Delta40 co-founder and managing partner Lyndsay Holley Handler said.
Delta40 is already building six ventures led by experienced founders, and is actively evaluating new founders and venture ideas.
Morgan DeFoort from Factor[e]Ventures said although only three per cent of global carbon emissions come from Africa, more than 60 per cent of African households will be affected by climate change if nothing is done.
“A decade of investing in energy, agriculture, mobility, and water innovations in emerging markets has affirmed that there is a great opportunity at the formation stage to support local and diverse founders as they connect their technologies and markets. Factor[e]Ventures is proud to launch Delta40 to scale our ability to identify, test, invest in and grow technology-driven ventures leading the fight against climate change in this important market,” DeFoort said.