Acumen’s African climate-tech investment platform, KawiSafi, has received $90 million for its second fund to accelerate climate solutions. After a substantial investment, KawiSafi Fund II will support entrepreneurs developing energy transition, clean mobility, and nature-based carbon solutions that satisfy daily requirements and create jobs.
Amar Inamdar, Managing Director of the KawiSafi funds, said, “Securing $90 million for a successor KawiSafi fund is a major milestone and a signal to the market: capital can and must flow toward a more inclusive, low-carbon future.” This follows the success of the original $67 million clean energy fund launched in 2016.
Backing climate tech entrepreneurs driving Africa’s energy transition
Africa faces some of the most severe climate risks globally. Despite contributing just 3-4% of global emissions, it is highly vulnerable to droughts, floods, and rising seas, challenges that threaten to push millions deeper into poverty.
However, African startups focused on distributed renewable energy, resilient mobility, clean cooking, and access to carbon finance offer scalable solutions. KawiSafi II will invest in companies turning these environmental challenges into business growth opportunities.
João Duarte Cunha of the African Development Bank noted, “The fund provides much-needed venture and growth capital to emerging businesses advancing energy access and the energy transition.”
The fund also benefits from anchor support by leading institutions such as the African Development Bank’s Sustainable Energy Fund for Africa, the Green Climate Fund, and the Schmidt Family Foundation.
The fund combines catalytic equity and a blended finance structure to de-risk investments, attracting more private and institutional capital to underfunded African markets. It aims to impact 50 million people and avert 50 million tons of CO₂ emissions.
Acumen’s founder and CEO, Jacqueline Novogratz, said, “KawiSafi funds show distributed clean energy solutions can drive Africa’s energy transition and economic transformation.”
In Somalia, where half the population lacks electricity and high diesel prices, catalytic capital-supported solar energy initiatives can provide affordable and reliable power—the new fund funds local entrepreneurs, laying the groundwork for this low-carbon future.