Issue #6. Who is Who at Equator VC, Africa's $55M Climate-Tech Fund?

On 11th March 2025, various sources announced that Equator, a venture capital firm focused on climate technology in Sub-Saharan Africa, had finalized its first fund at $55 million to support early-stage startups addressing critical climate challenges.

The fund targets seed and Series A companies in the energy, agriculture, and mobility sectors. It offers investments of $750,000 to $1 million at the seed stage and up to $2 million for Series A rounds.

Backed by prominent development finance institutions like British International Investment (BII), Proparco, and IFC, as well as foundations such as the Global Energy Alliance for People and Planet and the Shell Foundation, Equator aims to bridge the funding gap for startups navigating the region’s challenging investment landscape.

Equator is a venture capital firm dedicated to driving impactful innovation in Sub-Saharan Africa. Its strong focus is on combating climate change and addressing income inequality.

Equator is a team of technologists, operators, and investors That leverages its deep in-market experience and access to global tech intellectual property to identify and accelerate transformative technologies and business models.

The firm invests in critical sectors such as energy, agriculture, and mobility, where innovation and scalability are essential for mitigating the effects of global warming and ensuring the resilience of communities and businesses.

Equator’s mission is to supercharge low-carbon technologies and entrepreneurial ventures, delivering real growth and returns and creating meaningful, lasting impacts for people, economies, and the planet.

Equator takes a hands-on, thesis-led approach to venture capital. It combines its unique domain knowledge with a proactive approach to forecasting trends and developing innovative solutions.

Equator prides itself on being more than just a financial backer; it is a catalyst for change, engaging deeply with mission-driven entrepreneurs and game-changing ideas.

By connecting global knowledge with local expertise, Equator aims to build valuable companies that contribute to a brighter, more sustainable future for Sub-Saharan Africa and the world at large

Equator VC's portfolio includes startups like Apollo Agriculture, which empowers small-scale farmers in Kenya to maximize profits, and Odyssey Energy Solutions, an all-in-one platform for developing and managing distributed energy projects.

It also backed Roam, which produces electric motorcycles and buses tailored for Africa’s roads, and SunCulture, which offers solar-powered irrigation systems to boost farmers' incomes.

Other ventures include Downforce Technologies, a digital monitoring platform for soil carbon measurement; Ibisa, a parametric insurance solution for climate resilience; Steama, an IoT-based energy management tool, and Leta, a logistics tech to optimize goods movement while minimizing costs and climate impact. Leta recently raised a $5m seed round with investors like Google and Speedinvest.

In this article, we profile the senior team behind Equator VC. Equator VC’s senior leadership team brings together decades of experience in investing, scaling, and incubating startups across Africa, with a strong focus on climate technology.

This carefully assembled group includes experts who have previously worked (or still work) with Factor[e] Ventures, a global venture-building organization, creating a significant overlap that enhances their ability to identify and nurture high-potential startups. The team’s collective expertise spans renewable energy, sustainable agriculture, and mobility, making them uniquely positioned to address the challenges faced by early-stage climate tech ventures in the region.

Nijhad Jamal: Managing Partner.

Nijhad Jamal is a seasoned investor and entrepreneur with over 16 years of experience in driving investments across Sub-Saharan Africa.

With a career spanning investment banking, private equity, venture capital, and entrepreneurship, Nijhad has established himself as a key player in the global investment landscape.

His expertise spans sectors such as clean energy, agriculture, mobility, fintech, and retail, making him a versatile and forward-thinking leader.

Nijhad’s academic background laid the groundwork for his illustrious career. He earned a Bachelor of Science (BSc) from the Massachusetts Institute of Technology (MIT), one of the world’s most prestigious institutions for science, technology, and innovation.

Building on this strong foundation, Nijhad pursued a Master of Business Administration (MBA) from Harvard Business School (HBS), graduating in 2011.

Nijhad’s professional journey began at UBS Investment Bank, where he worked as an Analyst from 2005 to 2006. In 2006, Nijhad joined Centerview Partners, a boutique M&A advisory and growth equity firm, as an Associate.

After three years at Centerview Partners, he transitioned to the world of impact investing in 2010, joining the Acumen Fund as a Portfolio Manager.

Acumen is a pioneering global impact investment fund that focuses on addressing poverty by investing in sustainable businesses in sectors such as healthcare, education, and energy.

At Acumen, Nijhad managed a diverse portfolio of investments, working closely with entrepreneurs to scale their businesses and create meaningful social impact.

In 2012, he joined BlackRock, the world’s largest asset management firm, as a Director before founding Moja Capital in 2015. Moja Capital is a Nairobi and London-based investment firm focused on identifying and scaling high-impact opportunities in Sub-Saharan Africa.

As the Managing Partner, Nijhad has led Moja Capital in investing in and operating businesses across key sectors such as clean energy, agriculture, mobility, fintech, and retail.

Just like many of the Equator VC team, Nijhad has a connection to Factor[e] Ventures, a venture capital firm focused on scaling innovative solutions in energy, agriculture, and mobility. From 2020 to 2022, he served as their Investment Committee Member.

Today, Nijhad Jamal is the Managing Partner at Equator VC, where he continues to leverage his extensive experience and expertise to drive impactful investments in Sub-Saharan Africa.

At Equator VC, he is focused on identifying and backing high-potential climate-tech startups that are poised to transform the region’s economy while ensuring environmental sustainability.

Morgan DeFoort: Partner

Morgan DeFoort, a Partner at Equator, is an ecosystem leader with over two decades of experience in technology development, entrepreneurship, and sustainable innovation.

His career has been defined by a relentless pursuit of solutions to some of the world’s most pressing challenges, particularly in emerging markets across Africa and India.

With a unique blend of technical expertise, academic leadership, and entrepreneurial acumen, Morgan has established himself as a force in the fields of energy, environmental sustainability, and international development.

Morgan’s academic journey reflects his deep commitment to understanding and solving complex problems. He earned a Bachelor of Arts (BA) in Physics from Hastings College.

His passion for innovation and technology led him to pursue a Master of Science (M.S.) and a PhD in Mechanical Engineering from Colorado State University (CSU), where he graduated in 2008.

During his time at CSU, Morgan immersed himself in cutting-edge research, focusing on energy systems, biofuels, and sustainable technologies.

Additionally, Morgan attended the Green Technology Entrepreneurship Academy at the University of California, Davis, in 2007.

This program, run by the UC Davis Center for Entrepreneurship and funded by the Ewing Marion Kauffman Foundation, equipped him with the skills to translate scientific research into marketable solutions, further bridging the gap between academia and industry.

Morgan’s professional journey began with a focus on international development and sustainable energy. In 2003, he served as an Ambassadorial Scholar with Rotary International, working in the Philippines on energy, environmental, and agricultural projects.

During this time, he collaborated with Aklan State University on initiatives such as biodiesel production, biomass gasification, cookstove development, agricultural processing, and renewable power generation.

Morgan’s career took him to Colorado State University in 2007 as the Co-Director of the Engines & Energy Conversion Lab (EECL).

Over six years, he led research in engine systems, biofuels, and energy efficiency.

His work at the lab not only advanced technological frontiers but also fostered interdisciplinary collaboration, bringing together experts from diverse fields to tackle complex energy challenges.

In 2013, Morgan expanded his role at CSU, becoming the Managing Director of the Energy Institute. In this capacity, he supported over 200 interdisciplinary faculty members, spearheaded research and development programs, and played a pivotal role in advancing the university’s mission to address global energy issues.

In 2013, Morgan co-founded Factor[e] Ventures, a venture capital firm dedicated to scaling innovative solutions in energy, agriculture, and mobility. This firm would supply the vast majority of the Equator VC senior team, with some including Morgan working dual roles at both firms.

As the Managing Partner, he has led the firm in identifying and supporting transformative technologies that address critical challenges in emerging markets. Factor[e] Ventures has become a catalyst for change, empowering entrepreneurs and businesses to create sustainable, scalable impact.

Morgan’s expertise in sustainable energy has also taken him to the global stage. In 2009, he served as an Independent Contractor for The World Bank, focusing on biomass cookstove programs in Senegal, Uganda, Kenya, and the Democratic Republic of Congo.

His work involved assessing local manufacturing capabilities and developing technology roadmaps for government-led initiatives, including a significant project in Bangladesh.

In addition to his leadership roles, Morgan has served on the boards of several startups, including Sentry, 60 Hertz Energy, Odyssey Energy Solutions, and HOMER Energy.

Today, Morgan DeFoort is a Partner at Equator, where he continues to leverage his extensive experience and expertise to drive impactful investments in emerging markets.

Lyndsay Handler. Operating Partner.

Lyndsay Handler, an Operating Partner at Equator, is a trailblazer in the world of social entrepreneurship and sustainable development.

With over 18 years of leadership and operations experience, she has dedicated her career to building and scaling high-impact ventures across Africa in the energy, agriculture, and fintech sectors.

A valedictorian in high school, she attended Stanford University, where she earned a Bachelor of Arts (BA) in International Relations, with a specialization in International Political Economy. During her time at Stanford, she was involved in public service, serving as a Fellow at the Haas Center for Public Service.

This experience took her to Tanzania, where she worked on community development projects.

Lyndsay’s career began with a focus on poverty alleviation and community development. In 2006, she joined Village Enterprise, a nonprofit organization dedicated to creating sustainable livelihoods through entrepreneurship, as the Director of Operations. Over nearly three years, she professionalized the organization’s operations, improved efficiency, and expanded its impact across East Africa.

In 2010, Lyndsay was promoted to Senior Director of Programs & Operations at Village Enterprise. During her tenure, she created over 10,000 micro-businesses in the agriculture, service, and retail sectors, directly impacting thousands of families across Kenya, Uganda, and Tanzania.

She also built and led a team of over 75 people, fostering a culture of collaboration and innovation. Additionally, Lyndsay co-created Village Enterprise’s five-year strategic plan, setting the stage for the organization’s long-term growth and impact.

In 2012, Lyndsay joined Fenix International, a venture-backed energy company, as the East Africa Managing Director. Over the next three years, she played a pivotal role in expanding Fenix’s operations and impact across the region. Her leadership and strategic vision were instrumental in positioning Fenix as a leader in the clean energy space.

In 2015, Lyndsay was appointed CEO of Fenix International, a role she held for nearly four years. Under her leadership, Fenix grew into a pan-African solar company with over 1,100 employees and 5,000 commission-based agents. The company delivered clean, affordable power to over 3 million people in Uganda, Zambia, Benin, Nigeria, Côte d’Ivoire, and Mozambique.

During her tenure as CEO of Fenix International, Lyndsay Handler spearheaded transformative initiatives that reshaped access to clean energy across Africa.

She designed and launched Fenix Power, an expandable, pay-to-own solar home system financed through affordable mobile money payments. This innovation empowered millions of unbanked individuals to access clean energy, replacing kerosene and wood fires with sustainable solutions while unlocking new financial opportunities for underserved communities.

Fenix sold over 1 million solar home systems, achieving a customer Net Promoter Score (NPS) of over 70, a testament to the company’s customer-centric sales, distribution, and service strategy.

Handler also cultivated a high-performing, mission-driven team, fostering a strong and inclusive company culture known as the “Fenix Family.” This culture was bolstered by the Fenix Flames employee ownership program, which drove an employee NPS of over 88.

Her efforts culminated in securing significant equity and debt investments, leading to Fenix’s acquisition by global energy leader ENGIE in 2018. Post-acquisition, Handler remained as CEO for two years, ensuring a seamless transition and sustained growth under ENGIE’s stewardship.

In 2021, Lyndsay joined Factor[e] Ventures as a Partner & Chief Venture Builder. Her work included providing post-investment support to a portfolio of over 30 technology ventures. Her ability to combine strategic vision with hands-on support has been instrumental in driving the success of these ventures, which have collectively raised over $500 million in co-investment.

In 2022, Lyndsay co-founded Delta40 Venture Studio, where she serves as Co-Founder & Managing Partner. Delta40 is dedicated to solving Africa’s greatest climate and income inequality challenges by building and investing in high-impact ventures. The studio provides not only capital but also hands-on support and shared services to accelerate the growth of these ventures.

Lyndsay’s expertise and leadership have made her a sought-after board member and advisor. She currently serves on the boards of SunFi, Gridless, and Easy Solar, and previously served as a board observer for Ampersand E-Mobility. These roles reflect her commitment to supporting innovative solutions in clean energy, fintech, and mobility across Africa.

At Equator, Lyndsay is the Operating Partner, where she continues to leverage her extensive experience and expertise to drive impactful investments in Africa.

Joel Wanjohi: Director

Joel Wanjohi, a seasoned investment professional with over 17 years of experience, is at the forefront of Africa’s venture capital revolution.

As the Investment Director at Equator, a leading venture capital firm, Joel is leveraging his expertise to support technology-enabled startups that address some of the continent’s most pressing challenges—climate change, food security, and economic inclusion.

Joel’s career is deeply rooted in a strong academic foundation. He earned his Bachelor of Commerce in Accounting from the University of Nairobi in 2004, graduating with Second Class Upper Division honours.

To further bolster his expertise, Joel pursued a Master of Science in Finance, also at the University of Nairobi, in 2013. This advanced degree allowed him to specialize in finance and investments, sharpening his ability to identify high-potential ventures and manage financial portfolios effectively.

Joel began his career as an Accountant at Marsh Apparels Kenya Limited (2004–2006), where he managed payrolls, reconciliations, and financial reporting.

In 2006, Joel joined the Industrial and Commercial Development Corporation (ICDC), one of Kenya’s oldest development finance institutions.

Over nearly a decade at ICDC, he rose through the ranks from Senior Accountant to Principal Project/Investment Officer, overseeing projects across infrastructure, energy, agro-processing, and financial services. Joel managed investments ranging from $100,000 to $5 million, balancing profitability with developmental objectives.

In 2015, Joel transitioned to Voxtra, where he served as an Investment Manager specializing in agribusiness investments across East and Southern Africa.

He sourced and executed deals ranging from $0.5 million to $3 million across countries like Kenya, Uganda, Rwanda, and Mozambique.

Joel joined Goodwell Investments in 2019 as an Investment Principal, later becoming an Associate Partner based in Nairobi. At Goodwell, he led East Africa’s investment activities and reviewed deals across Sub-Saharan Africa as part of the internal investment committee.

Since September 2021, Joel has been serving as the Director at Equator.

David Longdon: Associate Director

David Longdon is a seasoned investment professional with over a decade of experience spanning Wall Street and African venture capital.

As an Associate Director at Equator, he leverages his expertise in derivatives, endowment management, and startup mentorship to back technology-driven ventures reshaping energy, agriculture, and mobility across Sub-Saharan Africa.

Longdon’s journey began at Bates College, where he earned a B.A. in Economics and French while engaging in student-led initiatives like the Bates College Investment Club and the Africana Club.

His academic rigour was complemented by the Stangle Fellowship, which funded research in Accra, Ghana, deepening his understanding of African markets. He later earned an MBA from Harvard Business School, solidifying his grasp of global finance and leadership.

Before transitioning to venture capital, Longdon spent seven years at Barclays Investment Bank, rising from Analyst to Vice President in the Risk Solutions Group. He advised financial sponsors on derivatives to mitigate interest rate and currency risks while contributing to internal initiatives like mentoring programs for junior bankers.

Longdon’s influence extends beyond the boardroom. Since 2017, he has served on the Board of Trustees at Bates College, overseeing a $450M+ endowment invested across public and private equities.

As an angel investor and advisor, Longdon actively supports African startups, offering operational guidance to scale ventures addressing regional challenges. His interim role as a growth manager for a Nairobi-based seed-stage startup further highlights his hands-on approach to fostering innovation.

Shiro Wachira: Head of Portfolio

Shiro Wachira is the Head of Portfolio at Equator and former Senior Manager at Factor[e] Ventures.

Wachira’s journey began at the University of Chicago, where she earned a B.A. in Philosophy with Phi Beta Kappa honours. Her academic focus on ethics and systems thinking laid the groundwork for her later work in equitable development.

She later pursued an MA in Environmental Policy at Stanford University, combining coursework in sustainable energy, agricultural policy, and life cycle assessments with business strategy at the Graduate School of Business.

This interdisciplinary training equipped her to evaluate ventures through both environmental and economic lenses—a skill she now leverages to identify scalable climate solutions.

Wachira’s professional trajectory reflects her commitment to human-centred design. At One Acre Fund (2017–2020), she managed partnerships with microfinance institutions, co-developing a $4.8M farmer sustainability model in Côte d’Ivoire and designing blended loan products for Tanzanian farmers. Her work included publishing thought leadership on gender equity in financial inclusion for the World Economic Forum.

As Chief of Staff to the COO at GiveDirectly (2020–2021), she supported strategic initiatives across Africa, enhancing operational capacity for humanitarian response and customer advocacy programs.

At Factor[e] Ventures (2024), Wachira managed portfolios focused on energy, agriculture, and mobility, emphasizing ventures that address Africa’s climate transition.

Since November 2024, she has led Equator’s portfolio, guiding climate tech startups through scaling challenges while aligning investments with Equator’s mission to accelerate equitable climate transitions.

Beyond deal-making, Wachira mentors founders on operational scaling, governance, and stakeholder engagement.

Jamie Doyen: Chief Financial Officer (CFO).

Jamie Doyen, is the Group CFO at Equator and Factor[e] Ventures with over a decade of experience spanning Deloitte, tech startups, and impact investing.

Doyen’s career is anchored in a triple threat of credentials: a B.A. and M.A. in Accounting from the University of Southern California and an MBA from Indiana University’s Kelley School of Business. She is also a Certified Public Accountant (inactive) in California, reflecting her technical mastery of financial systems.

Her early career at Deloitte & Touche (2006–2007) as an Audit Associate honed her ability to navigate complex financial ecosystems, a skill she later applied to startups and venture capital.

Before joining the venture capital world, Doyen held leadership roles in finance and consulting. At EDC Communications U.S. Inc., she rose from Sr. Accountant to Associate Finance Director, managing financial operations for a communications conglomerate. Her tenure at 8020 Consulting (2014–2015) further deepened her expertise in financial strategy for Fortune 50 firms and venture-backed startups.

In 2016, Doyen joined Factor[e] Ventures (like many others on this list) as the Director of Finance (2016–2020) and later Group CFO (2020–present). She oversees fund operations, ESG compliance, and financial reporting across Factor[e] and Equator.

Her dual role at Equator, a venture capital firm targeting climate-positive startups in Africa, underscores her ability to align financial discipline with mission-driven investing. For example, she was pivotal in securing $40M in commitments for Equator’s Africa Fund I, which backs ventures like solar energy platforms and digital farming tools.

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