Delta40, a venture studio and VC fund, launched its Nigeria Venture Studio in Lagos, betting on energy, agriculture, and fintech to fuel Africa’s entrepreneurial boom, it announced on Tuesday.
The high-profile event, held in partnership with Nithio, an AI-driven clean energy investment platform, drew key figures including Nigeria’s Minister of Trade, Industry and Investment, Dr Jumoke Oduwole, and Lagos State Commissioner for Commerce, Cooperatives, Trade & Investments, Folashade Ambrose-Medebem.
Since its 2023 debut, Delta40 has backed over 50 founders across Africa, and its Nigeria push includes investments in three local startups: Ecowaka, a clean energy venture; SunFi, a solar financing platform; and Lori Systems, a logistics tech outfit.
The studio, led by Managing Director Bankole Cardoso and Head of Investments Biola Alabi, aims to scale ventures that drive jobs and economic growth.
“Our Lagos launch is a milestone in building African giants,” Delta40 Board Chair Ada Osakwe said. “We’re committed to supporting founders in capital-intensive sectors like energy and agriculture, particularly African and female entrepreneurs, with hands-on venture studio support and catalytic capital.”
The studio’s model emphasises four pillars: experienced operators providing end-to-end support, early-stage lead investments, ecosystem partnerships, and strategic exits to fuel reinvestment.
Oduwole praised Delta40’s approach, stating, “There’s immense opportunity in Nigeria, and we’re keen to see small businesses scale globally. Delta40’s work is vital for our technology-driven diversification goals.”
Commissioner Ambrose-Medebem highlighted Lagos State’s supportive policies, noting, “The venture studio model is an exciting shift for incubating ventures. This partnership with Delta40 will drive innovation.”
Delta40 Board Director and former GE Africa CEO Jay Ireland underscored Nigeria’s bright entrepreneurial future. “With a population set to make Nigeria the world’s third most populous by 2050, founders here have unparalleled market potential and public-private support,” he said.
Delta40 Managing Partner Lyndsay Handler added, “Our venture studio model creates a flywheel effect, helping founders build and scale faster. Lagos is the perfect hub for this.”
Led by Managing Director Bankole Cardoso and Head of Investments Biola Alabi, Delta40’s Nigeria operations aim to solve complex challenges through strategic partnerships.
