Acumen, the impact investor focused on solving poverty, has announced the launch of its second KawiSafi fund. This is a $90 million fund will be used to accelerate climate solutions in Africa. $40 million of this is already committed with backing from the African Development Bank, Green Climate Fund and other partners.
If you have a startup you want featured on TechArena, let us know through this contact form here.
The fund builds on the success of the first KawiSafi fund. This was a $67 million clean energy initiative that was launched in 2016. Fund I focused on expanding access to clean energy and the second fund will target sectors such as distributed renewable energy, clean transportation, resilient mobility, clean cooking and nature-based carbon solutions.
KawiSafi Fund II aims to impact 50 million people across Africa and avert 50 million tons of CO2 emissions at scale. It focus is to support fast-growing companies that meet everyday needs, create decent work and strengthen climate resilience in underserved communities.
Acumen hopes to help these businesses develop scalable models that both generate returns and deliver measurable climate impact.
“Securing $90 million for a successor KawiSafi fund is a major milestone and a signal to the market: capital can and must flow toward a more inclusive, low-carbon future,” said Amar Inamdar, Managing Director of the KawiSafi funds.
Africa contributes only 3–4% of global greenhouse gas emissions but remains the most vulnerable to climate shocks. Rising temperatures, prolonged droughts, floods and sea-level rise threaten millions of livelihoods. The World Bank estimates that climate change could push an additional 100 million people worldwide into poverty.
Despite this vulnerability, the continent receives only about 6% of global climate finance flows. Acumen’s KawiSafi Fund II addresses this gap by directing venture and growth capital toward entrepreneurs developing low-carbon solutions tailored to African markets.
João Duarte Cunha, Head of Division at the African Development Bank, which oversees the Bank’s Sustainable Energy Fund for Africa (SEFA), said: “The KawiSafi fund comes to market at a critical time, offering much-needed venture and growth capital to emerging businesses advancing energy access and the energy transition.”
Jacqueline Novogratz, Acumen’s Founder and CEO, noted that the KawiSafi funds have already demonstrated how distributed clean energy can transform African economies: “This milestone brings together years of learning, a coalition of committed partners, and the local insight needed to scale climate solutions where they are needed most.”
For these and more stories, follow us on X (Formerly Twitter), Facebook, LinkedIn and Telegram. You can also send us tips or reach out at [email protected].
Also Read: TLcom’s TAPSI Fund Reaches 50% Deployment with TurnStay
