Inspired Evolution wins AfDB commitment for Fund III

Image Credit: Pixabay

Inspired Evolution Investment Management‘s third fund has won an investment commitment from the African Development Bank.  The multilateral development finance institution has agreed to invest $20 million in the planned $400 million fund, joining other DFIs such as the European Investment Bank on the fund’s roster of LPs. This commitment is a repeat investment for AfDB, which also backed Inspired Evolution’s first two funds.

Once it starts investing, Evolution III will make growth capital and infrastructure equity investments in renewable and sustainable energy opportunities both north and south of the Sahara. The fund will target its investments at assets where decarbonization, decentralization, and digitalization support enable critical climate mitigation and energy transition strategies. Since its launch 15 years ago, Inspired Evolution deployed $310 million in renewable energy projects in Africa, backing 21 projects which now generate 2GW of power between them.

<

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.