New Paris-based VC Satgana completes the first close of its €30M fund to back climate tech startups

Satgana, a new Paris-based VC firm, is hoping that its take on the subject of climate tech will gain traction.

The first closing of a 30 million fund to back startup in areas such as food and agriculture, energy, mobility and buildings/industry has been completed.

At the pre-seed and seed stages across Europe and Africa, the fund will invest up to $500,000. Pre and post- investment, it will apply a diversity and inclusion lens.

Three climate tech startups have been invested by the fund so far. These are not the usual ones.

• Orbio Earth, a German startup building a platform for energy providers to monitor and reduce methane emissions using satellite data.
• Mazi Mobility, a Kenyan startup building a network of electric motorbikes and a battery-swapping infrastructure in East Africa.
• Yeasty, a French startup building an alternative protein leveraging beer yeast with a circular model.

In its first closing, Satgana says it has counts of more than 30LPs, including the co- founder and CEO of impact unicorn Back Market.

RomainDiaz said in a statement.

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.

Patrcia Silva is a co- founder and non-executive director of the Carbon removal centre. There will be an investment director.

Advisers include Lubomila J. and James Crowley.