Delta40, a dynamic venture studio and VC fund committed to backing transformative businesses across Africa, has officially launched its Nigeria hub in Lagos. The milestone event, held on April 30, 2025, signals a powerful new phase in Delta40’s mission to nurture ventures that redefine sectors such as energy, mobility, agriculture, food systems, fintech, and AI.
The vibrant Lagos unveiling was hosted in partnership with Nithio—an AI-powered clean energy investment platform and one of Delta40’s strategic allies. Key figures from Nigeria’s business and policy spheres attended the launch, including Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole MFR, and Lagos State’s Commissioner for Commerce, Cooperatives, Trade and Investments, Mrs. Folashade Ambrose-Medebem.
Speaking at the event, Dr. Oduwole emphasized the government’s dedication to fostering tech-driven enterprises and diversifying Nigeria’s economy through collaboration with forward-thinking platforms like Delta40. “Nigeria is brimming with potential,” she said. “We’re eager to see our small businesses evolve into global players. Delta40’s work is paving the way.”
Since its inception in 2023, Delta40 has supported 50 founders through its innovation initiatives and invested in a wide-ranging portfolio of startups. As part of its Nigerian expansion, Delta40 announced new investments in three promising startups:
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Ecowaka, led by Prince Ojeabulu and Diekola Alabi,
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SunFi, co-founded by Rotimi Thomas and Tomiwa Igun, and
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Lori Systems, spearheaded by Jean-Claude Hemawoo.
“We’re thrilled to plant roots in Lagos,” said Ada Osakwe, Delta40’s Board Chair. “Our team is composed of seasoned entrepreneurs and investors who go far beyond traditional funding models to truly accelerate innovation.”
The venture studio is especially committed to uplifting African and female founders. “We’re unafraid to invest in capital-intensive ventures if it means job creation and economic growth,” Osakwe added.
Jay Ireland, Delta40 Board Director and former CEO of GE Africa, highlighted Nigeria’s unique position as a fast-rising global market. “Nigeria is projected to be the third most populous country by 2050. Entrepreneurs here are not just creating products—they’re building for a booming future. With support from both the public and private sectors, the outlook is bright.”
Delta40’s four-pillar model is designed to take startups from concept to scale:
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Hands-on Support from experienced operators,
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Lead Investments that unlock further funding,
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Ecosystem Building through partnerships and networks, and
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Profitable Exits that encourage reinvestment and innovation.
Lyndsay Holley Handler, Managing Partner and Co-Founder, expressed excitement about bringing this globally successful model to West Africa. “Venture studios have transformed how businesses are built—speeding up growth, boosting impact, and improving investor returns. We’re creating an innovation engine right here in Nigeria.”
Commissioner Ambrose-Medebem reinforced Lagos State’s dedication to nurturing innovation-friendly environments. “We know innovation thrives in inclusive and forward-looking ecosystems,” she noted. “Delta40’s blend of funding, studio support, and ecosystem engagement aligns perfectly with Lagos State’s development vision.”
Spearheading Delta40’s Nigerian operations is Bankole Cardoso, Managing Director, with guidance from Biola Alabi, Head of Investments, and support from a distinguished board comprising Ada Osakwe, Laurie Spengler, Jay Ireland, and Lyndsay Holley Handler.
Delta40’s arrival in Lagos marks a bold step toward unlocking Africa’s entrepreneurial potential—empowering local founders to solve pressing challenges with scalable, world-class solutions.
