Equator secures $40M in commitments for fund targeting climate tech startups in Africa

News Summary

  • As such, the fund will pay attention to technical founders with domain expertise who are building solutions around clean energy, agriculture and mobility, and who ultimately address the impact of climate change on income inequality in Africa.“Climate change and income inequality are proven to be directly correlated.
  • Ventures also need highly active and engaged investors to help them reach the growth stage of their trajectory,” added DeFoort.In all, Equator will be expecting to leverage the current shift in the global narrative about climate tech’s importance and its impact on climate change.
  • For seed stages, the clean tech VC invests between $1 million and $2 million; for Series A stages, it cut checks between $2 million and $4 million.
  • I hope this is the first of many funds that continue to follow in these footsteps because more capital, talent and innovation are needed to develop more holistic solutions to the challenges in the climate space.”Sun King raises $260M to widen clean energy access in Africa, Asia
  • In the latest development, Equator, a climate tech venture capital firm focused on sub-Saharan Africa, has reached an initial close of its first fund with $40 million in commitments.
  • At Moja Capital, a personal fund he founded, Jamal made seed and Series A investments across several sectors, including those central to Equator’s strategy: clean energy, agriculture and mobility.
Africa contributes less than 3% of the worlds energyrelated carbon dioxide emissions but the continent will be one of the most impacted by the adverse effects of climate change. Some explanations fo [+5876 chars]