Delta40, a venture studio and investment fund, has officially launched its Nigeria Venture Studio in Lagos, reinforcing its commitment to driving innovation across energy, agriculture and fintech in Africa. The launch event, held in partnership with clean energy investment platform Nithio, attracted key government and industry figures, underlining the studio’s high-profile entry into Nigeria’s startup scene.
Delta40 was represented at the event by its Managing Director, Bankole Cardoso, and Head of Investments, Biola Alabi. According to the firm, the new studio in Lagos will serve as a hub for scaling ventures that are critical to job creation and economic growth across Africa. Since its inception in 2023, Delta40 has supported more than 50 founders across the continent and is now betting big on Nigeria’s entrepreneurial energy.
The Lagos launch featured top-level attendees, including Nigeria’s Minister of Trade, Industry and Investment, Dr Jumoke Oduwole, and the Lagos State Commissioner for Commerce, Cooperatives, Trade & Investments, Folashade Ambrose-Medebem. The event also showcased the studio’s first three investments in Nigerian startups: Ecowaka, focused on clean energy; SunFi, a solar financing platform; and Lori Systems, a logistics technology company.
Delta40 Board Chair Ada Osakwe described the Lagos launch as a “milestone in building African giants.” She highlighted the studio’s aim to support African and female entrepreneurs in capital-intensive sectors through hands-on venture studio support and catalytic capital.
The studio’s operational model is structured around four key pillars: experienced operators offering end-to-end support, early-stage lead investments, deep ecosystem partnerships, and strategic exits that create reinvestment opportunities. This approach, according to Delta40, is designed to help founders build sustainable ventures faster and at scale.
Minister Jumoke Oduwole welcomed Delta40’s entry into Nigeria, saying, “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.”
Lagos State Commissioner Folashade Ambrose-Medebem also lauded the initiative, stating that the venture studio model represents “an exciting shift for incubating ventures,” and affirmed that Lagos State will continue to support innovation-friendly policies.
Jay Ireland, Delta40 Board Director and former CEO of GE Africa, emphasised Nigeria’s vast potential, noting that with projections indicating Nigeria could become the third most populous country in the world by 2050, entrepreneurs in the country are uniquely positioned to tap into large domestic markets and global growth trends.
Delta40’s Managing Partner, Lyndsay Handler, said the studio’s Lagos presence would trigger a “flywheel effect,” helping startups to solve complex challenges quickly and more efficiently through deep partnerships and targeted support.
