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Evolution II

Evolution Fund II is a USD 250m clean energy fund with a twin-focus on i) power generation and ii) resource efficiency. The Fund will build a portfolio of 10-15 companies/projects, with 60-75% of the Fund’s corpus to be invested in renewable energy power generation (primarily wind, solar, small hydro, and geothermal) and 25-40% in resource efficiency (mostly operating companies in the field of energy efficiency, water and water treatment, waste management and agricultural efficiency).

Evolution II

Evolution Fund II is a USD 250m clean energy fund with a twin-focus on i) power generation and ii) resource efficiency. The Fund will build a portfolio of 10-15 companies/projects, with 60-75% of the Fund’s corpus to be invested in renewable energy power generation (primarily wind, solar, small hydro, and geothermal) and 25-40% in resource efficiency (mostly operating companies in the field of energy efficiency, water and water treatment, waste management and agricultural efficiency).

About the fund

The Fund will deploy up to 50% of commitments to South Africa, Botswana and Namibia. The other 50% is to be invested in other Sub Saharan African countries with the primary targets being Ethiopia, Ghana, Kenya, Mozambique, Nigeria, Tanzania, Uganda and Zambia.

Energy is scarce across Sub Saharan Africa, and energy that is produced sustainably is even scarcer. While some populations suffer power interruptions, others are worse off, with a large share of the population being deprived from access to energy altogether. According to the International Energy Agency, Sub Saharan Africa accounts for more than 50% of the world’s population that lives without access to electricity. Indeed, Sub Saharan Africa has the lowest electrification rate in the world, with only a 32% (percentage of population) access to electricity rate. The energy dearth is particularly pronounced in rural Sub Saharan Africa, where only 17% of the population have access to electricity.

The Fund will be managed by Inspired Evolution Investment Management.

Investments by the fund

             
Date Name Country Industry Status
2018 Company 1 Netherlands Renewable energy production and supply Active
2019 Company 2 South Africa Renewable energy production and supply Active
2018 Company 3 Kenya Renewable energy equipment and services Active
2020 Company 4 Sierra Leone Renewable energy production and supply Active
2022 Company 5 Senegal Renewable energy production and supply Active
2019 Company 6 Burundi Renewable energy production and supply Active
2022 Company 7 Ghana Renewable energy production and supply Active
2020 Company 8 Mauritius Renewable energy production and supply Active
2019 Company 9 Nigeria Conventional energy production and supply Active
Reference code
2017-03
Status
Active
Date of commmitment
March 2017
Date of exit
-
Fund size
USD
250,000,000
SIFEM commitment
USD
10,000,000
Asset class
Private Equity
Investment strategy
Investment through Fund
Fund manager
Inspired Evolution Investment Management