The E3 Low Carbon Economy Fund for Africa (E3LCEF)’s $48.1 million initial close marked a major step towards sustainability.
E3LCEF will help scale low-carbon economy-enabled technology and business models by investing in Africa’s next-generation low-carbon entrepreneurs.
To accelerate African cleantech innovations and create a more egalitarian and resilient global economy, E3LCEF fosters early-stage entrepreneurs and provides follow-on finance.
Lion’s Head and E3 Capital, which will invest in Africa, coordinated the deal. EAVF’s $75 million is managed by E3 Capital. East, West, and Southern Africa’s 15 decentralized energy enterprises are this fund’s investments.
Frontier and emerging market investments are managed by Lion’s Head. It assists governments, multilaterals, and private companies with corporate finance and manages $700 million through a subsidiary.
Over $400 million has been invested in 30 African nations by E3 and Lion’s Head. Lion’s Head is AIFM, and E3 Capital is the fund adviser for Luxembourg-based E3LCEF.
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E3LCEF’s New Investors
Lion CEO Clemens Calice stated, “We are excited to back a new generation of entrepreneurs.” We think this is a good time to invest in African low-carbon companies with scale potential.
The E3 team has unique expertise working with early-stage firms throughout the continent, and their portfolio is starting to show signs of definite winners.”
Paras Patel, E3 Capital’s Founder and Managing Partner, added, “African businesses are starting to emerge with clear product market fit and a strong commercial potential at the core within the low carbon economy.”
“We’re witnessing amazing entrepreneurs. We’re passionate about helping African entrepreneurs establish the next generation of inventive firms that innovate, scale, and change our lives. My partner, Vladmir Dugin, and I are grateful to our investors and look forward to working with many new and established companies in the coming months.”
“With its investment in the E3 Low Carbon Economy Fund I, KfW is investing as an anchor investor in the first fund of the newly formed E3 Capital team,” said KfW Development Bank Director of Equity Finance Stephanie Lindemann-Kohrs. E3 Management and Lions Head are experienced partners who can execute the funds’ investing plan. The Fund’s investments will help Africa attain climate neutrality and equity.
E3LCEF’s Africa Goals
E3LCEF promotes Africa-wide clean energy development and adoption. The fund sees large-scale low-carbon businesses on the continent as early-stage startups.
E3LCEF also finds and supports creative African enterprises.
The fund’s founders are passionate about assisting future business leaders with demonstrable product-market fit and high economic potential in the low-carbon economy. E3LCEF helps these entrepreneurs realise their innovative ideas by giving money and improving lives across the continent.
The Fund advocates global fairness and climate neutrality. E3LCEF investments will combat climate change and provide Africa with renewable energy. E3LCEF helps creative, scalable, low-carbon enterprises adapt to climate change, grow, and create jobs.
Africa still needs energy. E3LCEF invests in autonomous energy startups. The fund targets East, West, and Southern African firms.
It aims to simplify energy access and provide communities with affordable, sustainable energy. E3LCEF initiatives offered commercial and industrial green energy and pay-as-you-go solar power to rural and neglected communities.
