Equator, a Nairobi, Kenya-based climate-tech venture capital firm focused on Sub-Saharan Africa, announced the initial close of its first fund with approximately $40m USD in commitments.
Notable investors in the fund include British International Investment (BII), the Global Energy Alliance for People and Planet (GEAPP), UK charity Shell Foundation and impact investor DOEN Participaties.
The fund will support Seed and Series A-stage, tech-enabled ventures in Sub-Saharan Africa in the sectors of energy, agriculture and mobility through an overlooked phase in their funding journey.
Led by Nijhad Jamal, managing partner, and Dr. Morgan DeFoort, partner, Equator has already backed some of the region’s most prominent early-stage ventures, including Apollo Agriculture, Odyssey Energy Solutions, Roam and SunCulture.
Equator leverages support from Factor[e] Ventures, an organization of venture builders and pre-seed investors. While both companies operate independently, Equator and Factor[e] collaborate on sourcing and diligencing deals and also share a post-investment support platform to provide value to portfolio companies as they scale.
The global venture capital firm has teams in Nairobi, Lagos, London, and Colorado.
FinSMEs
06/04/2023