Nairobi, Kenya- Equator, the climate-focused venture capital firm, just hit a major milestone—closing its first Africa Fund at a cool $55 million (Sh7.1 billion).
The Nairobi-, London-, and Colorado-based VC is doubling down on Africa’s early-stage tech startups, particularly those in energy, agriculture, and mobility.
Managing partner Nijhad Jamal says the fund will power 15 to 18 startups, with investments ranging from Sh97 million ($750,000) at the seed stage to a hefty Sh260 million ($2 million) for Series A rounds.
But Equator isn’t just cutting checks; it’s rolling up its sleeves to help founders refine unit economics, governance, and regional expansion.
Equator, an Africa-focused venture capital firm, has closed a $55M fund to invest in early-stage climate tech startups, aiming to bridge the funding gap for scalable solutions in the region. Led by Managing Pa…
Who’s Behind the Money?
Heavy hitters like British International Investment (BII), Proparco, and the International Finance Corporation (IFC) are among Equator’s key backers.
Philanthropic giants, including the Global Energy Alliance for People and Planet and the Shell Foundation, have also thrown their weight behind the fund.
The IFC alone injected Sh646 million ($5 million) into Equator’s fund last October, a significant boost after the VC secured its first close of Sh5.1 billion ($40 million) in April 2023.
Equator, an Africa-focused venture capital firm, has raised $55 million for its debut fund to invest in early-stage climate tech startups.The firm will back 15-18 companies with seed investments of $750,000 to $1 million and Series A investments of up to $2 million.The fund…
A Growing Portfolio of Climate Innovators
Equator’s investment portfolio already boasts eight game-changing startups. Kenyan solar-powered irrigation pioneer SunCulture, electric mobility disruptor Roam Motors, and smallholder financing platform Apollo Agriculture are just a few of the ventures benefiting from Equator’s financial muscle.
As Africa’s climate tech ecosystem continues to grow, Equator is positioning itself as the go-to VC for startups tackling energy access, sustainable agriculture, and clean transportation.
With deep pockets and a clear vision, this is just the beginning of Africa’s green tech revolution.
