Acumen has launched its second KawiSafi fund, securing $90 million in approved capital, including $40 million in committed funding, to support climate solutions across Africa.
KawiSafi Fund II aims to address critical climate challenges in Africa by focusing on:
- Energy Transition: Investing in renewable energy systems to provide clean power to underserved communities.
- Clean Transportation: Developing sustainable transport solutions that can withstand climate and economic shocks.
- Clean Cooking: Expanding access to safe and affordable cooking alternatives.
- Nature-Based Carbon Solutions: Unlocking new opportunities for carbon financing.
The fund’s goal is to impact 50 million people and avert 50 million tons of CO₂ emissions at scale.
The fund has secured commitments from prominent investors, including:
- The Green Climate Fund
- The African Development Bank’s Sustainable Energy Fund for Africa
- The Schmidt Family Foundation
- The Quadrature Climate Foundation
These partnerships reflect a growing confidence in Africa’s potential for green innovation and the importance of supporting scalable climate solutions.
KawiSafi Fund II builds upon the success of the original $67 million KawiSafi Clean Energy Fund launched in 2016. The first fund supported pioneering off-grid energy companies, demonstrating the viability of distributed clean energy markets. With Fund II, Acumen is broadening its strategy to cover a wider range of climate and energy sectors.
Amar Inamdar, Managing Director of the KawiSafi funds, emphasized the significance of this capital raise:
“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.”
João Duarte Cunha of the African Development Bank noted that the fund provides much-needed venture and growth capital to African businesses advancing energy access. He highlighted that the bank’s support for this fund reflects its broader commitment to scaling innovative low-carbon solutions and mobilizing private capital to accelerate Africa’s clean energy future.
KawiSafi Fund II represents a significant step toward building a low-carbon, climate-resilient, and inclusive economy across Africa. By channeling capital into innovative climate solutions, the fund aims to create lasting impact and support sustainable development across the continent.
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