Equator, a climate tech venture capital firm focused on sub-Saharan Africa, has raised $40 million in commitments for its first fund, which backs seed and Series A startups in the energy, agriculture, and mobility sectors. Equator plans to invest between $1 million and $4 million per company, with a focus on technical founders with domain expertise who are building solutions around clean energy, agriculture and mobility, and who ultimately address the impact of climate change on income inequality in Africa. The firm aims to make up to 15 investments throughout the fund's life cycle, with round sizes of $10 million or less typical for pre-Series B clean tech startups in sub-Saharan Africa. Development finance institutions and clean tech-focused funds are also investing in the sector, as investor appetite for climate tech startups has grown in recent years.

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