Equator announces final $55m fund close
The fund will back Seed and Series A-stage, tech-enabled ventures in the sectors of energy, agriculture and mobility.
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Equator, a climate-tech venture capital firm focused on sub-Saharan Africa, announced the final close of its first fund with approximately $55 million in commitments. The fund will back Seed and Series A-stage, tech-enabled ventures in the sectors of energy, agriculture and mobility.
Notable investors in the fund include British International Investment, the International Finance Corporation, Proparco, the Global Energy Alliance for People and Planet, Shell Foundation and DOEN Participates.
"We have a unique and diverse team of technologists, operators and investors united by our obsession to drive momentum in the campaign for climate action in sub-Saharan Africa," said Nijhad Jamal, managing partner of Equator. "Our deep in-market presence, combined with our global experience and reach, allows us to forecast trends and develop theses that underpin our investments in proven technology and business model innovation to address local market challenges."
Equator has already backed several early-stage companies. New investments since the first close of the fund include:
Downforce Technologies: A digital platform that measures soil organic carbon for farmers, landowners and project developers to maximise the potential of their land.
Ibisa: Designing and delivering parametric insurance solutions that provide fast payouts to help businesses and smallholder farmers respond to climate shocks.
Leta: A logistics tech company that helps optimise the movement of goods for businesses to reduce costs and minimise climate impact.
SteamaCo and Shyft Power Solutions: A scalable IoT smart metering platform and AI theft detection solutions for managing electricity sales.
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