Delta40, an Africa-focused venture studio and fund, said on Tuesday it had raised $20 million to support early-stage startups across the continent, with backing from prominent investors including the Soros Economic Development Fund.
The raise involved 54 investors from 13 countries, including 25 founders and 14 African investors, marking the first institutional funding round in Africa that combines venture building with early-stage capital.
Delta40 operates venture studios in Kenya and Nigeria, providing startups with hands-on support in areas such as energy, mobility, agriculture, fintech, and AI integration. The firm typically invests between $100,000 and $500,000 at the idea-to-seed stage, with follow-on funding and operational support.
“Through Delta40, we’re building innovations that transform lives, economies, and planetary health across Africa,” said Lyndsay Holley Handler, Founder and CEO. “Over 75% of our investors and team have built ventures in Africa, bringing experience, networks, and lessons from successful exits.”
Delta40 has invested in 16 companies to date, including five ventures built in-house, creating more than 5,000 jobs across 30+ African countries. The fund has achieved a 5.5x leverage on its capital.
Institutional backers include the Soros Economic Development Fund, FMO, GIZ, Autodesk Foundation, Rockefeller Foundation, and Skoll Foundation, as well as on-the-ground African investors.
“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.
The round positions Delta40 to expand its portfolio and deepen operational support for African startups, aiming to address gaps in funding for female and African-led ventures.
