About the Investee
The Helios Clear Fund SCSP is a pan-African private equity fund focused on promoting climate action and environmental sustainability. With an investment target of USD 400 million, the fund provides equity and quasi-equity support to private companies in Africa that contribute to climate mitigation and adaptation efforts. It aligns with several Sustainable Development Goals (SDGs), including climate action and clean energy. The European Investment Bank's participation is intended to catalyze additional investments and support the fund's impact in achieving long-term financial and environmental objectives. Investment Strategy
CLEAR is a dedicated green growth fund with the objective of making investments in African businesses whose products and services (i) seek to avoid and reduce carbon emissions; (ii) enable development decoupled from carbon emissions; and (iii) help local populations adapt to climate change. Development rationale
Strong GDP-growth of African countries requires a low-carbon development pathway in order to align with the global net-zero targets. Furthermore, Africa is unproportionally exposed to negative climate change effects. The fund's strategy targets projects & businesses which accelerate the transition to low-carbon activities and support the resilience of local communities.
Investment rationale
The fund's strategy is fully aligned with our climate strategy and helps to fill an considerable financing gap. It operates in several priority and LDC countries. SIFEM has contributed to the fund's first close. Additionality
-
Financial Additionality: supporting the first close of the fund which helps mobilizse private investors in subsequent closings.
-
Sustainability Additionality: applies responsible investment policy and pursues a climate goal. SIFEM will be helping the Fund Manager launch a new strategy and shift into the climate space.
Contribution to strategic objectives
-
Climate mitigation/adaptation: entirely focused on sectors related to climate mitigation or adaptation
-
Gender equality: fulfilling criteria 5 (products for women) and 6 (investments through financial intermediaires)
-
Job creation: focus on growth companies in climate sectors
-
Priority countries: various across Africa, including LDCs
Reference code
24-173
Status
Active
Date of commitment
2024-07
Date of first disbursement
2024-09
Domicile
Luxembourg
Fund size (target)
USD
400 million
SIFEM commitment
USD
15 million
Portfolio
Own balance sheet
Concessional finance
0%
Asset class
Private Equity
Type
Fund
ESG Risk Categories
Environmental & Social: B+
Governance: medium
Target region
Pan-Africa
Target sectors
Agribusiness, Aquaculture, ForestryBusiness activities and servicesEnergy EfficiencyInfrastructureLogisticRenewable EnergyTransportVenture Capital
Target DFI Co-investments
FMOBII
Manager
