Satgana, a Europe-based climate-tech venture capital firm, has recently announced the appointment of Anil Maguru as its newest partner. Maguru, who previously served as an investment director at the firm, will now play a crucial role in backing climate startups in both Europe and Africa. With this appointment, Maguru becomes one of the youngest VC partners in Europe and joins the small percentage of black fund managers worldwide.
Key Takeaway
Satgana has appointed Anil Maguru as its latest partner, reinforcing the firm’s commitment to supporting climate-tech startups in Europe and Africa. As a young and diverse voice in the venture capital industry, Maguru brings a fresh perspective and expertise to the table.
Maguru’s Journey at Satgana
Maguru joined Satgana three years ago, initially as an analyst when the firm was just starting out. With his promotion to partner, Maguru will have a prominent presence in Africa as Satgana expands its investment plans in the region. He brings extensive experience in investing and managing portfolios, having worked at a family office in Paris overseeing a €20 million portfolio that included private equity, venture capital, real assets, and philanthropy.
In regards to his new role, Maguru expressed his passion for backing founders who are dedicated to addressing climate change adaptation and mitigation. He also mentioned Satgana’s plans to launch two larger funds specifically focused on Africa and Europe, further advancing their investment strategy across the two continents.
Focusing on “Planet-Positive” Startups
Satgana’s current fund, revised to €10 million from the original €30 million, will allocate up to 40% to “planet-positive” startups in Africa. The firm has already made progress in this area, investing in three startups on the continent. Their investment focus in Africa includes sub-sectors such as mobility, food and agriculture, energy, industry, buildings, and the circular economy.
The startups that Satgana has invested in so far in Africa include Mazi Mobility, a Kenyan company building a network of electric motorbikes and a battery-swapping infrastructure; Kubik, which upcycles plastic and operates in Ethiopia; and Revivo, a B2B marketplace that gives electronic spare parts, like phones, a new lease on life. In Europe, Satgana has invested in Rebel Tech, Orbio Earth, Yeasty, Loewi, Arda, Fullsoon, and Fermify.
A Growing Focus on African Climate Tech
Satgana is part of a growing number of funds dedicated to supporting the African climate tech sector amidst a VC funding slowdown. Other funds, such as the Africa People + Planet Fund by Novastar Ventures, Equator’s fund, and the Catalyst Fund, are also actively investing in startups focused on agriculture, energy, and mobility solutions on the continent. Maguru emphasizes Africa’s potential to contribute to the global transition to a Net Zero economy, despite its vulnerability to climate change impacts.
Considering the continent’s growing population and increasing energy demands, Maguru believes it is crucial to address these challenges by mobilizing Satgana’s expertise and supporting startups in implementing carbon mitigation strategies and building resilience.
