Luxembourg-based climate tech VC firm Satgana has announced the first closing of its €30m fund backing the next generation of planet-positive startups.
Founded in 2020 by a collective of experts, Satgana, which means “a good company” in Sanskrit, invests up to €500K at the pre-seed and seed stages across Europe and Africa.
“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,” Satgana General Partner Romain Diaz said, adding: “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.”
Satgana is interested in startups focused on food and agriculture, energy; mobility; industry and buildings; carbon removal and circular economy.
The fund has already invested in three startups working on solutions that address the climate crisis and it plans to invest in a total of 40.
“We are currently focused on anchoring our position as an early-stage Climate Tech VC, by deploying capital and operational support to purpose-driven founders, all while carrying on our fundraising journey and collaboration with ecosystem partners,” explained Romain Diaz.
Its existing portfolio features German methane intelligence software Orbio Earth, Kenyan electric motorbike and battery swap infrastructure firm Mazi Mobility and French protein alternative manufacturers Yeasty.
In addition to capital, the collective provides hands-on operational and strategic support to its portfolio firms, with a focus on impact management, technology development, strategy, hiring and fundraising.
The fund has more than 30 LPs in its first closing, including high net worth individuals and family offices, including Thibaud Hug de Larauze (Co-Founder & CEO of impact unicorn Back Market), Josef Bovet (CEO of Tiller Systems), Fabrice de Gaudemar (CEO of Qotto and ex-Executive Board of Eurazeo), Elsa Hermal (Co-Founder of Epicery) and the Family Office Cullom Capital.
