Climatetech VC firm Satgana announces first closing of $30m fund
Summary
Further investment will be made in 40 start-ups tackling climate change across Europe and Africa.Satgana (a good company in Sanskrit) is on a mission to back the next generation of purpose-driven entrepreneurs building the future of Earth, says Diaz. It invests up to 500 000 at the pre-seed and seed stages.Beyond capital, it vows to supercharge founders with hands-on operational and strategic support to its portfolio thanks to the network of its Collective and some of its investors on matters such as impact management, technology development, strategy, hiring and fundraising.Diaz says, 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.There has never been a better time to build and invest in climatetech, fostered by an unprecedented flood of talent and capital into the space. Yeasty, the French start-up, builds an alternative protein leveraging beer yeast with a circular model.Satgana was founded by a diverse collective leveraging decades of experience on both sides of the table, operating and investing with a gender lens in impact-driven companies.The fund already counts more than 30 limited partnerships in its first closing, mainly made up of high net worth individuals and family offices, including Thibaud Hug de Larauze (co-founder and chief executive 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.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, says Diaz.There has never been a better time to build and invest in climatetech, fostered by an unprecedented flood of talent and capital into the space.