Delta40, a venture studio and VC fund investing in and supporting founders addressing Africa’s most urgent challenges, has secured $20 million in funding to strengthen its integrated Venture Studio and Fund model, supporting Africa’s diverse startup founders.
The funding round attracted participation from 54 investors across 13 countries, spanning global institutions, high-net-worth individuals, development finance institutions (DFIs), family offices, and foundations.
The raise included backers from across Africa to Silicon Valley, including 25 Founders, the Soros Economic Development Fund, FMO, GIZ, Autodesk Foundation, the Rockefeller Foundation, Allan and Gill Gray Philanthropies, Livelihood Impact Fund, Small Foundation, Lemelson Foundation, Factor (E) Ventures, Skoll Foundation, and global law firm Wilson Sonsini.
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Speaking on the milestone, Lyndsay Holley Handler, Founder & CEO of Delta40, said,
“Through Delta40, we’re building and scaling innovations that transform lives, economies, and planetary health across Africa — with solutions that can power and feed the world. What sets this model apart is our community of innovators, investors, and business leaders who provide hands-on support from idea to pan-African scale and impactful exits. Over 75% of our investors and team have built ventures in Africa, bringing deep experience, networks, and lessons from successful exits across the continent and beyond.”
Also commenting, Georgia Levenson Keohane, CEO of the Soros Economic Development Fund, stated,
“Delta40 exemplifies the kind of bold, locally-led innovation that is essential to building inclusive economies and environmental resilience across Africa. At SEDF, we are proud to support visionary founders who are solving urgent challenges – and shaping a more just and sustainable future.”
Launched in 2023, Delta40’s integrated fund and venture studio model was designed to back founders at the ideation stage, accelerate innovation and execution, and scale resilient businesses across Africa. The firm writes initial checks ranging from $100,000 to $500,000 at the idea-to-Seed stage, with opportunities for follow-on investments.
Delta40’s mission is to increase incomes and tackle climate change in Africa by building and investing in inclusive climate innovations. The firm focuses on Africa because 40% of the world’s population is projected to live on the continent by 2100. Its investment thesis centers on energy, agriculture, and mobility innovations, critical sectors for sustainable growth while prioritizing climate innovation given the urgency of preventing irreversible environmental damage within the next decade.
The firm also emphasizes investing in diverse founders, recognizing that they are closest to customers and bring essential ideas, lived experiences, and skills needed to solve complex challenges across the continent.
Beyond providing capital, Delta40’s venture studio team delivers hands-on support, shared services, and strategic partnerships to accelerate speed, returns, and impact. Acting as a long-term extension of startup teams, the studio supports commercial growth and fundraising execution, including investor materials, financial modeling, strategy development, exit planning, and targeted introductions to facilitate subsequent funding rounds.
Global benchmarks show that venture studios help startups raise capital twice as fast and achieve IPO and M&A exits 30% faster than traditional models. Additionally, venture capital funds that offer significant post-investment support have been shown to generate 50% higher net internal rates of return (IRRs).
Delta40 was established to address persistent gaps within Africa’s innovation ecosystem. Currently, less than 2% of venture funding goes to female founders, and less than 30% to African founders despite data demonstrating that locally led ventures and diverse founding teams deliver stronger financial returns and outsized impact. Many startups also struggle to scale or achieve exits due to limited access to appropriate capital, technology, and talent.
To date, Delta40 has invested in and supported 16 companies, including five ventures built directly within its studio, achieving a 5.5x leverage on its capital. These ventures across clean energy, agriculture, and fintech, operate in more than 30 African countries, and have created over 5,000 direct and indirect jobs, driving income growth and environmental sustainability.
With offices in Nairobi, Kenya, and Lagos, Nigeria, Delta40 is led by a team of experienced entrepreneurs, operators, and innovators committed to providing catalytic capital and embedded support from idea stage to pan-African scale.