Delta40, a hybrid venture studio and venture capital fund, has officially launched its Nigeria Venture Studio in Lagos, marking a significant step in its mission to foster entrepreneurial growth across Africa. The studio’s strategic focus on energy, agriculture, and fintech reflects a commitment to addressing critical needs and capitalizing on the continent’s burgeoning economic potential. Delta40’s model goes beyond traditional venture capital by providing hands-on operational support, early-stage funding, and fostering strategic partnerships to guide startups towards successful exits and reinvestment. The launch event in Lagos attracted prominent figures from both the public and private sectors, underscoring the initiative’s importance and the growing recognition of Nigeria’s entrepreneurial landscape.
The decision to establish a venture studio in Lagos underscores Delta40’s belief in Nigeria’s potential as a hub for innovation and economic growth. With a young and rapidly growing population, Nigeria presents a significant market opportunity for entrepreneurs. Delta40’s focus on sectors like energy and agriculture aligns with the country’s developmental priorities and the need for sustainable solutions to address pressing challenges. The studio’s emphasis on supporting African and female entrepreneurs further demonstrates its commitment to fostering diversity and inclusion within the entrepreneurial ecosystem. By providing not just capital but also operational expertise and access to networks, Delta40 aims to empower founders to build scalable and impactful businesses.
Delta40’s venture studio model distinguishes it from traditional venture capital firms. Rather than simply providing funding, Delta40 actively collaborates with portfolio companies, offering comprehensive support throughout the entire lifecycle of a venture. This involves providing access to experienced operators who can guide founders through various stages of development, from ideation and product development to market entry and scaling. The studio’s focus on early-stage investments allows it to nurture nascent businesses with high growth potential and shape their trajectory from the ground up. This hands-on approach allows Delta40 to mitigate risks, accelerate growth, and maximize the chances of success for its portfolio companies.
The launch event in Lagos showcased the strong support Delta40 has garnered from both government officials and industry leaders. The presence of Nigeria’s Minister of Trade, Industry and Investment and the Lagos State Commissioner for Commerce, Cooperatives, Trade & Investments highlights the government’s recognition of the vital role venture studios can play in driving economic diversification and job creation. These endorsements underscore the alignment between Delta40’s mission and the government’s broader economic development goals. The event also served as a platform to introduce Delta40’s initial investments in three Nigerian startups: Ecowaka, SunFi, and Lori Systems, which exemplify the studio’s focus on impactful sectors like clean energy and logistics technology.
Delta40’s leadership team brings a wealth of experience and expertise to the table, further strengthening its ability to support African entrepreneurs. Led by Managing Director Bankole Cardoso and Head of Investments Biola Alabi, the Nigeria team possesses a deep understanding of the local market and the challenges faced by entrepreneurs. Their combined experience in finance, technology, and entrepreneurship provides a valuable resource for portfolio companies. The studio’s Board Chair, Ada Osakwe, and Board Director Jay Ireland, former CEO of GE Africa, bring extensive international experience and a network of global connections, which can help Nigerian startups expand their reach beyond the local market.
The launch of Delta40’s Nigeria Venture Studio marks a significant milestone in the development of the African entrepreneurial ecosystem. By combining venture capital with hands-on operational support, Delta40 is providing a unique platform for African founders to build and scale impactful businesses. The studio’s focus on key sectors like energy, agriculture, and fintech, coupled with its commitment to supporting African and female entrepreneurs, positions it to play a crucial role in driving economic growth and innovation across the continent. With its strategic approach, experienced leadership, and strong partnerships, Delta40 is poised to make a significant contribution to the future of African entrepreneurship.
