FMO, Shell Foundation unveil $120m Energy Entrepreneurs Growth Fund
Dutch development bank FMO and UK-registered charity Shell Foundation have launched the $120 million Energy Entrepreneurs Growth Fund, with an initial close of $45 million.
The fund is aimed at providing catalytic financing to early to growth stage companies in Sub-Saharan Africa operating in the access to energy ecosystem.
Triple Jump, an Amsterdam-based impact-focused investment manager, will act as portfolio manager. Persistent, a Zurich based venture and private equity firm with expertise in the off-grid sector, will serve as investment advisor to the fund. Enclude, a Palladium company, advised on the structuring and execution of the fund.
EEGF will finance more than 25 companies and predominantly provides mezzanine structures as well as equity and debt investments through tailored solutions to meet the changing needs of growing energy companies
