The Continent’s First Institutional Venture Studio + Fund Capital Raise, Backed by 54 Investors — including 25 Founders and 14 African Investors
Delta40 today announced $20 million in funding secured to support its integrated Venture Studio and Fund. The milestone marks Africa’s first institutional raise linking venture building and early-stage capital, merging investment with hands-on studio support from experienced operators to build and scale startups across the continent.
Delta40 brings together 54 investors from 13 countries—spanning global institutions, high-net-worth individuals, development finance institutions (DFIs), family offices, and foundations. Notably, the raise includes investors from across Africa to Silicon Valley, including 25 Founders, creating a “founders backing founders” ecosystem. 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.
Delta40 initially launched its venture studio model in Kenya and has since expanded to Lagos, Nigeria, providing portfolio companies with direct, on-the-ground support as they scale across the continent. Delta40 pioneered a unique Venture Studio and Fund model that combines early-stage capital with embedded product, fundraising, commercial, finance, legal, growth, and exit expertise. Through this model, Delta40 partners with founders from idea to scale across energy & mobility, agriculture, and fintech—with a goal to integrate AI across all sectors.
“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.” — Lyndsay Holley Handler, Founder & CEO, Delta40.
As a venture studio, Delta40 invests in initial checks ranging from $100,000 to $500,000 at the idea-to-Seed stage, with the potential for follow-on investment. Beyond capital, the team acts as a long-term extension of the startup team, supporting commercial growth and fundraising execution, including investor materials, financial modeling, strategy, exit opportunities, and targeted introductions to help founders secure subsequent rounds. Global benchmarks indicate that venture studios help startups raise capital 2x faster and realize IPO and M&A exits 30% faster than traditional models. Furthermore, VC funds that provide significant post-investment support have been shown to realize 50% greater net IRRs.
Delta40 was designed to tackle persistent gaps in Africa’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. Delta40’s unique fund and venture studio model was built to back founders on the frontlines at the ideation stage, accelerate innovation and execution, and amplify their growth into resilient, scalable businesses across Africa.
The investor and strategic partner base mirrors the ecosystem it aims to strengthen: bold, operator-driven, and deeply aligned with Africa’s entrepreneurial reality. Institutional investors and partners include the Soros Economic Development Fund, FMO, GIZ, Autodesk Foundation, The Rockefeller Foundation, Allan & Gill Gray Philanthropies, Livelihood Impact Fund, Small Foundation, Lemelson Foundation, Factor(E) Ventures, and Skoll Foundation—alongside strong African participation and on-the-ground champions. Delta40 worked with leading global law firm Wilson Sonsini, which helped design this innovative legal and financing structure, and also invested.
“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.” — Georgia Levenson Keohane, CEO, Soros Economic Development Fund
“At FMO, market creation sits at the core of our 2030 strategy—tackling the systemic barriers that limit capital deployment and entrepreneurs’ access to the right finance to scale. Delta40’s venture studio model reflects this approach, pairing appropriate capital with hands-on support to help founders build resilient businesses across energy, food systems, and financial inclusion. Through our Market Creation programme, we are proud to back initiatives that unlock innovation and deliver lasting impact for people, economies, and the planet.” — Andrew Shaw, Manager, Impact FMO
To date, Delta40 has invested in and supported 16 companies, including five ventures built directly within its studio, and has catalyzed a 5.5x leverage on its capital. These ventures—spanning clean energy, agriculture, and fintech—are increasing incomes and advancing planetary health across 30+ African countries, with over 5,000 direct and indirect jobs created. This final close will allow Delta40 to grow its portfolio and its venture studio support.
“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.” — Biola Alabi, Partner, Investments, Delta40.
