New venture capital fund for clean-tech companies in Africa

Energy Access Ventures (EAV) and Lion’s Head Global Partners will collaborate on a second Africa-focused venture capital fund that will invest in clean-tech, new generation climate (resource) efficient enterprises, and associated B2B and B2C firms.

Energy Access Ventures is an Africa-based early-stage investment vehicle. Its initial fund (EAV I) raised €75 million in February 2015 and has 14 portfolio businesses and one exit.

The organization’s name will be changed to E3, which stands for Enabling Emerging Entrepreneurs. The new E3 Low Carbon Economy Fund will tap into Africa’s entrepreneurial creativity and provide start-up finance to enterprises that can help develop the continent’s productive low-carbon industries.

EAV managing partner Paras Patel expressed his delight at the opportunity to work with the Lion’s Head team.“Not only do they bring a wealth of experience across emerging markets but they are committed to a productive low climate transition and therefore we see many synergies and long-term vision alignment,” said Patel.