Equator, a climate-tech venture capital firm with a focus on Sub-Saharan Africa, announces the initial close of its first fund with commitments totaling about $40 million USD.
This money will be used to support Seed and Series A-stage tech-enabled ventures in the fields of energy, agriculture, and mobility through a crucial stage of the funding process.
British International Investment (BII), the Global Energy Alliance for People and Planet (GEAPP), the UK charity Shell Foundation, and impact investor DOEN Participaties are notable investors in the fund.
“Our partners are some of the most experienced and well-connected investors in Sub-Saharan Africa and within our target sectors,” said Nijhad Jamal, managing partner of Equator, previously of Moja Capital, BlackRock, and Acumen Fund. “They are highly committed to providing expertise, networks, and capital directly to our portfolio companies, which is a game-changer for early-stage start-ups.”
Despite being one of the more recent funds on the market, the team at Equator has years of expertise operating profitable businesses in Sub-Saharan Africa and in a range of sustainability-focused industries.
Equator benefits from utilizing the assistance of Factor[e] Ventures, a group of venture builders and pre-seed investors.
Equator and Factor[e], despite the fact that they both run independently, work together to source and vet deals. They also share a post-investment support platform to benefit portfolio firms as they grow.
Apollo Agriculture, Odyssey Energy Solutions, Roam, and SunCulture are just a few of the notable early-stage companies in the region that Equator has already funded.
