Delta40 has announced the close of a $20 million fundraising round to support the growth of its integrated Venture Studio and Fund, aimed at building and scaling early-stage startups across Africa. The raise is being described as the continent’s first institutional funding effort to formally link venture building with early-stage capital, combining investment with hands-on studio support from experienced operators.
The platform brings together 54 investors from 13 countries, including global institutions, high-net-worth individuals, development finance institutions (DFIs), family offices and foundations. The investor base stretches from Africa to Silicon Valley and includes 25 Founders, creating what Delta40 describes as a “founders backing founders” network. Several founders have also invested their own capital into the venture studio to support the next wave of African entrepreneurs developing scalable, high-impact businesses.
Delta40 initially launched its venture studio model in Kenya and has since expanded operations to Lagos, Nigeria. This provides portfolio companies with on-the-ground support as they scale across multiple African markets. The firm operates a combined Venture Studio and Fund model that links early-stage capital with embedded expertise across product development, fundraising, commercial strategy, finance, legal, growth and exit planning. Through this structure, Delta40 partners with founders from idea stage through to scale in sectors including energy & mobility, agriculture and fintech, with a stated ambition to integrate AI across all focus areas.
Lyndsay Holley Handler, Founder & CEO, 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.”
As a venture studio, Delta40 makes initial investments ranging from $100,000 to $500,000 at the idea-to-Seed stage, with the option to provide follow-on funding. In addition to capital, the studio team acts as a long-term extension of founding teams, supporting commercial growth and fundraising execution. This includes preparation of investor materials, financial modelling, strategic planning, exit pathways and targeted introductions to help companies secure later-stage rounds. According to global benchmarks cited by the firm, venture studios help startups raise capital twice as quickly and achieve IPO and M&A exits 30% faster than traditional models. Venture capital funds that offer substantial post-investment support have also been shown to generate 50% higher net IRRs.
The initiative has been positioned as a response to structural gaps in Africa’s innovation and funding ecosystem. Less than 2% of venture funding currently goes to female founders, and less than 30% to African founders, despite evidence that locally led ventures and diverse founding teams deliver stronger financial returns and wider impact. At the same time, many startups struggle to reach scale or achieve exits, often due to limited access to appropriate capital, technology and talent. Delta40’s combined fund and studio model has been set up to support founders from the ideation stage, accelerate product development and execution, and help turn early concepts into resilient, scalable businesses across African markets.
The investor and strategic partner group reflects the operator-led approach the firm is promoting. Backers 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 a range of African investors and local partners. Delta40 worked with global law firm Wilson Sonsini to structure the legal and financing framework for the platform, with the firm also participating as an investor.
“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,” said Georgia Levenson Keohane, CEO, Soros Economic Development Fund
Andrew Shaw, Manager, Impact FMO said: “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.”
To date, Delta40 has invested in and supported 16 companies, including five ventures built directly within its studio. The firm reports that it has achieved a 5.5x leverage on its deployed capital. These ventures operate across clean energy, agriculture and fintech, and are active in more than 30 African countries. Collectively, they have created over 5,000 direct and indirect jobs while contributing to income growth and environmental outcomes. The final close of the fund is expected to enable Delta40 to expand both its investment portfolio and the scale of 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,” said Biola Alabi, Partner, Investments, Delta40.
