Satgana, a VC firm, has just closed its first fund at $8.6 million. It got commitments from some big shots like Maurice Lévy from Publicis Groupe and Thibaud Hug de Larauze, who’s a co-founder of Back Market.
Romain Diaz, the VC’s founder and General Partner, explained that it closed the fund earlier than planned due to a tough fundraising environment.
However, the firm is ready to invest in up to 30 early-stage startups in Africa and Europe. It already made 13 investments, so it’s on track.
Satgana focuses on backing startups that are tackling climate change, especially in areas like mobility, food, energy, and more. In Africa, it has supported companies like Amini, Mazi Mobility, Kubik, and Revivo.
Diaz has a background in venture capital in Africa, and after seeing the impact of climate change, he decided to launch Satgana to focus solely on climate tech startups. Based in Europe now, the firm is still very much interested in Africa’s potential.
It’s also big on investing in solutions that help vulnerable communities deal with climate change.
