$120M Growth Fund to Boost African Off-Grid Solar Power Companies

Tuesday, December 10, 2019

By Babalwa Bungane

The Shell Foundation together with the Dutch entrepreneurial development bank, FMO, have announced the launch of the $120 million Energy Entrepreneurs Growth Fund (EEGF), with an initial close of $45 million, providing catalytic financing for early to growth stage companies in sub-Saharan Africa operating in the access to energy ecosystem.

Triple Jump, an Amsterdam based impact-focused investment manager, will act as portfolio manager and Persistent, a Zurich based venture and private equity firm with expertise in the off-grid sector, will serve as investment advisor to the fund. Enclude, a Palladium company, advised on the structuring and execution of the fund.

Photo courtesy of Greg Seelhorst.

Source: ESI Africa (link opens in a new window)

development finance, off-grid energy