Satgana, a Luxembourg-based venture capital firm that invests in climate technology, has announced the first closing of its fund. The fund’s goal size is EUR30 million (about $29 million), and Satgana plans to invest in Africa and Europe.
- Satgana intends to invest in entrepreneurs that provide technical solutions to the climate emergency following the conclusion of its first fund. According to a statement, the firm invests in the next generation of entrepreneurs in Europe and Africa to create a more sustainable, egalitarian, and regenerative future.
- Satgana wants to back tech startups that want to help get all parts of the economy off of carbon. The focus areas are food and agriculture, energy, mobility, industry and buildings, getting rid of carbon, and the circular economy.
- At the pre-seed and seed rounds, the VC company invests up to EUR500,000 ($490,000). It provides hands-on operational and strategic help to its portfolio in addition to capital.
- The fund has already invested in three planet-positive firms, including Kenya’s Mazi Mobility, and will invest in 40 climate-related startups.
- In its first closing, the fund has more than 30 LPs, most of whom are high-net-worth individuals and family offices. These include Elsa Hermal (co-founder of Epicery.
- Thibaud Hug de Larauze (co-founder and CEO of impact unicorn Back Market), Fabrice de Gaudemar (CEO of Qottoand ex-executive board of Eurazeo
- Josef Bovet (CEO of Tiller Systems), and the Family Office Cullom Capital.