• Persistent launched the $70 million Persistent Africa Climate Venture Builder Fund (Persistent ACV Fund) to finance African climate startups

• The fund secured an initial $52 million first close and added a $5 million venture-building facility

• The vehicle targets startups in energy, agriculture and resource managementfrom seed stage to Series A

Persistent, a climate venture builder operating in Africa, has launched a $70 million investment vehicleaimed at supporting African startups developing climate solutions. The organization announcedon March 10 the launch of the Persistent Africa Climate Venture Builder Fund (Persistent ACV Fund), an investment fund dedicated to early-stage companies addressing climate challenges across the continent.

The launch coincided with a first close of $52 million, alongside a $5 million venture-building facilitydesigned to support company creation. The fund primarily targets African startups developing solutions in energy, agriculture and resource management, covering financing stages from seed to Series A.

The initiative aims to help these companies scale their operations and deploy innovations more broadly across African markets. In addition to financial support, Persistent will provide operational assistance to entrepreneurs by helping them structure projects and accelerate business growth.

“This first close demonstrates that early-stage climate innovation in Africa is an attractive sector for investors and represents a unique opportunity. We are excited to begin the investment phase and to continue supporting entrepreneurs who are building companies in the energy, agriculture and resource sectors across Africa,”Persistent’s partners said.

The fund launch comes at a time when climate finance remains unevenly distributed globally. Although Africa produces less than 4% of global greenhouse gas emissions, the continent receives less than 5% of global climate financing, according to Dr. James Mwangi, Chief Executive Officer of Equity Group Holdings, as cited by Proparco.

Several international partners support the fund. Backers include FSDAi, the Nordic Development Fund, the Sustainable Energy Fund for Africamanaged by the African Development Bank, and additional institutions such as JICA, the Soros Economic Development Fund, Impact Fund Denmark, the Schmidt Family Foundation, and the Cottier Donzé Foundation.

This article was initially published in French by Sandrine Gaingne

Adapted in English by Ange J.A de Berry Quenum