FinDev Canada has injected $13 million into Energy Entrepreneurs Growth Fund (EEGF), which invests in early and growth-stage energy startups in sub-Saharan Africa. Part of the funding will go toward increasing access to clean energy for off-grid households and businesses in the region.
The $120 million EEGF, which was founded in 2019 by the Shell Foundation — and co-funded by UKaid and the Dutch Entrepreneurial Development Bank FMO, extends financing in the form of debt (catalytic or mezzanine) or equity to businesses in the energy sector. The EEGF is managed by Triple Jump; an impact investment manager and advised by Persistent; and a climate venture builder.
FinDev Canada participated in fundraising through 2X Canada, an impact investment facility driving the economic empowerment of low-income and underserved populations in sub-Saharan Africa, Latin…
Shell-founded startup fund receives $13 million from Canadian DFI to accelerate clean energy access in Africa – TechCrunch
