Soros backed venture firm Delta40 has raised $20 million, equivalent to about Sh2.6 billion, to expand funding for early stage startups across Africa, including Kenya. The capital raise, announced on February 11, 2026, is aimed at accelerating innovation in key sectors such as agriculture, mobility, energy, and financial technology.
The funding round attracted support from the Soros Economic Development Fund and the Rockefeller Foundation, alongside a broad network of institutional and private investors. In total, 54 investors from 13 countries participated, reflecting growing international interest in Africa’s startup ecosystem. Delta40 said the fund combines equity, debt, and grant financing to support founders at early stages of development.
Delta40’s investment model focuses on building and supporting startups that address structural gaps in African economies. The firm targets sectors such as energy and mobility, agriculture and food systems, and financial services, which it views as critical to long term economic development. Founder and Chief Executive Lyndsay Holley Handler said more than half of the capital raised is commercial funding seeking financial returns, demonstrating investor confidence in the continent’s growth potential.
The firm operates venture studios in Kenya and Nigeria, where it provides hands on support to entrepreneurs beyond financial investment. This includes helping founders develop products, assemble teams, and prepare businesses for scale. Since its establishment in 2021, Delta40 has invested in and supported at least 16 companies, including logistics platform Lori and solar fintech firm SunFi.
Delta40 writes initial investment cheques ranging from $100,000 to $500,000 at the idea and seed stages, with additional funding available as companies grow. This approach is designed to address a key challenge in African startup ecosystems, where early stage companies often struggle to access sufficient capital and operational expertise.
In a statement following the fundraise, the Soros Economic Development Fund highlighted the importance of locally driven innovation in addressing development challenges. Georgia Levenson Keohane, Chief Executive of the Soros Economic Development Fund, said Delta40 represents the type of initiative needed to strengthen African economies, noting that the organisation is committed to supporting founders who are “solving urgent challenges and shaping a more just and sustainable future.”
The new capital will enable Delta40 to expand its portfolio and launch additional ventures, particularly in markets such as Kenya, where Nairobi remains a major hub for technology startups. The company initially launched its venture studio model in Kenya and has continued to scale its presence across the continent.
