First close for VC firm Satgana; Says climate crisis a massive business opportunity

Climate-tech venture capital (VC) firm Satgana has announced the first closing of a target €30 million VC fund. The fund’s first closing includes over 30 LPs, mainly high-net-worth individuals and family offices.

Satgana invests up to €500,000 at the pre-seed and seed stages across Europe and Africa.

Satgana is looking at a broad range of solutions, intending to help decarbonise all the sectors of the economy. Areas of focus include:

– Food and agriculture

– Energy

– Mobility

– Industry and buildings

– Carbon removal

– Circular economy

So far, the fund has already invested in three climate-tech start-ups, with two others to be announced soon:

– Orbio Earth, a German start-up building methane intelligence software to help energy providers to monitor and reduce methane emissions with the use of satellites;

– Mazi Mobility, a Kenyan start-up building a network of electric motorbikes and a battery swapping infrastructure in East Africa;

– and Yeasty, a French start-up building an alternative protein leveraging beer yeast with a circular model.

Romain Diaz, general partner of the fund says, “The climate and ecological crisis is the defining issue of our time. As a gigantic challenge ahead of us, it is also a massive business opportunity as we need to reinvent all the sectors of our economies to meet the targets of the Paris Agreement. There has never been a better time to build and invest in climate tech, fostered by an unprecedented flood of talent and capital into the space. We look forward to connecting with many more founders, ecosystem partners, investors and talent to join us on this journey to help regenerate our planet.”