In Africa's first institutional venture studio fundraise, venture builder Delta40 has raised $20 million to build and support innovative companies across the continent.
The company unites 54 investors from 13 countries, including foundations, family offices, development funding institutions, and global organisations.
The Livelihood Impact Fund, Soros Economic Development Fund, and FMO spearheaded the funding round.
The new company said 25 founders and investors from Silicon Valley and Africa are part of the raise, forming an ecosystem of "founders backing founders."
This cycle of support is further strengthened by several founders who have invested their capital into the studio to empower the next generation of African entrepreneurs building transformative, scalable ventures.
The Nigerian and Kenyan-based company was designed to tackle persistent gaps in the continent’s innovation ecosystem.
Today, less than 2% of venture funding goes to female founders, and less than 30% to African founders, despite data showing that locally led ventures and diverse founding teams generate stronger financial returns and outsized impact.
At the same time, most ventures fail to reach scale or exit, often due to a lack of access to the right capital, technology, or talent.
According to its fund and venture studio strategy, Delta40 said it was established to support entrepreneurs at the forefront of their ideas, spur innovation and execution, and boost their expansion into robust, scalable companies across the region.
“As an investor and operator, I’ve seen how difficult it is for founders to access both bold capital and hands-on support. Delta40 delivers both and that’s why I’m confident that future funds will only accelerate the momentum we’re already seeing,” commented Biola Alabi, partner, investments at Delta40.
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