Japanese and UK investors back Persistent’s Series C

Image Credit: Pixabay

Climate venture building firm Persistent Energy has raised equity capital from Japanese and British institutional investment firms for its Series C round which remains open to other investors to join until the end of this year. Kyuden International Corporation, part of Japan’s Kyushu Electric Power Group, and UK-based FSD Africa Investments, are investing $10 million in the 10-year-old business which will be used to expand its climate venture building business in Africa. Each organization will have a board representative as part of the deal. No additional terms were disclosed.

The larger share of the capital is being provided by Kyuden who is making the investment as part of a strategy to exploit the rapidly growing demand for clean power and electric mobility in Africa with an established partner on the continent. Persistent expects to benefit from Kyuden’s expertise, know-how, and network of domestic and overseas energy businesses around the world.

To read this article, you must be a paid subscription member. (Current members login here)


Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.