Delta 40 Venture Studio Corporation (FMO-65287)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Nigeria
Geographic location where the impacts of the investment may be experienced.
Specific Location
Lagos
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 1, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Delta 40 Venture Studio Corporation
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.52 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Dec 18, 2025

Disclosed by Bank Aug 28, 2025

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Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the funding objective for this project is to support Delta 40's expansion into Nigeria by providing financial assistance for market research, venture development, and investment readiness. This includes establishing a focused venture studio in Lagos, supporting early-stage ventures, and fostering economic inclusion and resilience among entrepreneurs, as well as driving market expansion.

FMO supports this project to help early-stage Nigerian ventures overcome challenges like limited financing, market growth barriers, and the need for customised support. Delta 40's initiative aligns with FMO's goals of financial inclusion, market expansion, and investment readiness, positioning these ventures for future inclusion in FMO's portfolio. The project also uses catalytic finance to unlock more capital by partnering with local banks for working capital and other financial products. Delta 40's funding fits FMO's 2030 strategy, which aims to create bankable projects and close financing gaps for Sustainable Development Goals. Investing with a climate focus and supporting female-led companies matches FMO's priorities and strengthens prospects for these ventures.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Total FMO financing: USD 0.52 MLN

Funding: MASSIF

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Delta 40 is a venture capital (VC) fund and venture studio focused on sub-Saharan Africa, investing in and supporting early-stage founders (pre-seed & seed) across the continent. They invest across 3 key sectors that drive job creation & climate resilience, namely climate fintech, clean energy & e-mobility, and agricultural & food systems.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Website customer/investment: https://www.delta40.com/

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works