NAIROBI, Kenya, Mar 23 – Factor(e) Ventures has launched a new Delta40 studio, targeting tech startups with investments.
Delta40 invests in technology-driven energy, agriculture, and mobility startups.
US Ambassador to Kenya Meg Whitman said the Delta40 team will provide African founders and startups with innovative ways to solve the biggest problems.
Delta40 Co-Founder and Managing Partner, Lyndsay Holley Handler, who previously led clean energy company Fenix International, said she aims to use her considerable knowledge to help other entrepreneurs scale their ventures through organic growth or strategic corporate partnerships and acquisitions.
“By 2100, 40% 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,” she said.
“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.”
Handler said Delta40 founders aim to build a portfolio of transformative ventures across the continent and improve lives while amplifying the entrepreneurial ecosystem and protecting the planet for generations to come.
In addition, Morgan DeFoort from Factor[e] Ventures said that more than 60 percent of African households will be affected by climate change if we do not act.
“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,” DeFoort said.
“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.”
Delta40 benefits from the support of Factor [e] Ventures, an organization of venture builders and pre-seed investors.
They collaborate on sourcing founders, developing theses, brokering technology, and providing a post-investment support platform that adds value to portfolio companies as they grow.
Delta40 secured early funding and strategic support from the 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, among others.
The Global Energy Alliance for People and Planet’s Eric Wanless said, “Investing in innovation is key to driving economic development and solving climate change. GEAPP is proud to support Delta40.”
“We have supported Factor[e] since 2017 and are thrilled to see its innovative model expand to include the launch of a venture studio that sets a new bar for cultivating entrepreneurs,” Autodesk Foundation Managing Director Jean Shia said.
“We invest for impact and are confident that Delta40’s blend of operating experience in Africa, technology expertise, and commitment to investing in diverse founders will successfully accelerate African startups and their life-changing climate innovations,” she added.
