Persistent Energy Raises $10 Million to Grow its Clean-Tech Venture Building Business in Africa
By Annie Njanja
Persistent Energy has raised $10 million in Series C funding to grow its climate venture building business in Africa, in a round led by Kyuden International Corporation, a subsidiary of the Japanese Kyushu Electric Power Group, and Financial Sector Deepening (FSD) Africa Investments.
The equity round also had the participation of six new private investors, high-net-worth individuals and businesspersons, including Kotaro Tamura, as well as existing investors like BK Ventures BV and DPI Energy Ventures.
Persistent Energy, as an expert and investor in the renewable energy sector in Africa, helps startups to build businesses that can “scale sustainably” from ideation to the early growth stage. It does this by investing capital and human resources — where its team members join and work together with the management teams of portfolio companies. Persistent has 20 partner companies spread across 17 countries in Sub-Saharan Africa. The company has had two successful exits to date.
Photo courtesy of Franz Jachim.
- renewable energy