Triple Jump-managed EEGF lands new investor

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The Energy Entrepreneurs Growth Fund, (or EEGF), an energy-focused investment vehicle managed by Triple Jump, has won a commitment from a nordic investor. The planned $120 million fund has raised an undisclosed amount of capital from the Nordic Development Fund, (NDF), a multilateral development finance institution backed by the governments of Denmark, Finland, Iceland, Norway, and Sweden focused on climate change investments in low-income countries.

EEGF, which held a $45 million first close in 2019 was set up by the Shell Foundation and FMO to invest in off-grid energy companies in sub-Saharan Africa. The majority of the fund’s investments are expected to be structured as mezzanine deals, but there’s enough “wriggle room” for it to make tailored equity or debt capital investments if a particular opportunity’s financing requirements dictate.

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