Europe-based climate-tech VC Satgana has appointed Anil Maguru, previously an funding director on the agency, as its latest companion. Satgana, which emerged out of stealth final yr, invests in local weather startups in Europe and Africa.
Maguru joined the VC agency at inception three years in the past, beginning as an analyst. At 28, he turns into one of many youngest VC companions in Europe, and among the many lower than 10% black fund managers on the earth. Maguru beforehand labored at a Paris-based household workplace, the place he was answerable for investing and managing a €20 million portfolio together with non-public fairness, enterprise capital, actual belongings and philanthropy.
“I needed to carry extra worth into what I used to be doing, and that’s the reason I joined Satgana to again founders working in the direction of local weather change adaptation and mitigation. I’ve been appointed in a means that I’ll undoubtedly have a robust presence in Africa,” mentioned Maguru including that the VC agency is planning on two larger funds for Africa and Europe, because it doubles down funding plans within the two areas.
“We’re constructing our traction in Europe and in Africa with this primary fund, as a result of we’re aiming to open two different funds inside the subsequent couple of couple of years; one will deal with Europe and the opposite on Africa, in an effort to stick with it the technique of investing throughout the 2 continents,” mentioned mentioned Maguru, who was born in Rwanda however moved to France together with his household on the age of 10.
Commenting on Maguru’s appointment Romain Diaz, Satgana founder and CEO Romain Diaz mentioned; “[Maguru] embodies the spirit of Satgana in his every day actions, with a skillful mix of short-term hustle and a long-term strategic method in all relationships and choices. He’s good, strategic, humble, charismatic and with sturdy work ethics.”
Satgana plans to allocate as much as 40% of its present and first €10 million (revised from €30 million) fund in “planet-positive” startups in Africa, and is already making headway. It invests as much as €300k in pre-seed and seed startups.
It’s focusing on the mobility, meals and agriculture, vitality, business, buildings, and the round financial system sub-sectors in Africa, and has to this point invested in three startups within the continent.
Its investees in Africa embody Mazi Mobility, a Kenyan startup constructing a community of electrical motorbikes and a battery-swapping infrastructure; Kubik, which upcycles plastic and has operations in Ethiopia, and Revivo, B2B market promoting digital spare elements giving merchandise like telephones a brand new lease of life. In Europe, Satgna has invested in Insurgent Tech, Orbio Earth, Yeasty, Loewi, Arda, Fullsoon, and Fermify.
Satgana is among the many rising variety of funds devoted to the African local weather tech sector amid a VC funding cooldown. The opposite funds embody Pan-African enterprise agency Africa Individuals + Planet Fund, which is able to spend money on startups creating agriculture and local weather options on the continent, Equator’s fund, which is able to deal with seed and Sequence A startups within the vitality, agriculture and mobility sectors, and the Catalyst Fund, which is supposed to bolster local weather innovation.
“There’s vital potential for Africa to work in the direction of constructing resilience, powering sustainable development, and contributing to the transition to a Internet Zero financial system. Though African nations produce lower than 3% of the greenhouse gasses that heat the planet and are essentially the most weak, the continent is rising at an exponential fee and its vitality wants are growing, which might put it at systemic threat,” mentioned Maguru.
“That is why for us you will need to begin addressing this market whereas mobilizing our market expertise and experience to help startups in the direction of carbon mitigation methods and resilience,” he mentioned.
