Persistent Africa Climate Venture Fund finances early-stage climate startups across Africa.
Many African entrepreneurs lack access to risk capital in the early stages. With this investment, Impact Fund Denmark is supporting the development of the climate solutions the continent needs. Without access to capital, many of the most promising solutions risk never being realised.
The fund has so far raised USD 52 million (DKK 335 million). In addition to Impact Fund Denmark, the investor group includes Nordic Development Fund, FSD Africa, the African Development Bank and the Soros Economic Development Fund. In addition, FMO and Nordic Development Fund have agreed to fund Persistent’s venture building facility.
Thousands of jobs and renewable energy
The fund expects to create 60,000 jobs and provide green electricity to 420,000 people across Africa.