Acumen, a global impact investment firm, has announced that its second Kawisafi fund has secured $90 million in approved capital to support climate solutions across Africa.
The fund will back companies that bring clean power closer to underserved communities through renewable energy systems, develop transport solutions that can withstand climate and economic shocks, expand access to safe and affordable cooking alternatives, and unlock new opportunities for carbon financing.
The new fund signals rising investor interest in Africa’s climate-tech sector, which drew 21% of total funding in H1 2025. Despite growing investor interest, Africa, one of the most vulnerable continents to climate change, only has access to 3% of the global share of climate finance despite contributing 4% to global emissions.
KawiSafi is positioning itself as the capital partner for African startups strong enough to attract international interest while delivering value to local markets.
The fund hopes to support innovators who can help the firm reach 50 million people in Africa and prevent 50 million tons of carbon emissions. It is the second version of the $67 million clean energy KawiSafi Fund I launched in 2016. As of Q3 2024, KawiSafi reported impacting 213 million lives and saving 45 million tons of carbon emissions.
“Fund II gives us the ability to back these companies, drawing on lessons from our first fund,” said Aman Inamdar, Managing Director of KawiSafi Ventures. “Our approach is to combine equity with deep partnership, building an ecosystem so these entrepreneurs can expand beyond their home markets, professionalise operations, and show what climate solutions from Africa look like at scale.”
On September 3, KawiSafi co-led an $11 million Series A funding for Koolboks, a cleantech startup building solar-powered freezers for African businesses. The funding will help the company expand across Africa and establish its first local assembly plant in Nigeria.
While the second KawiSafi fund has secured approval to raise $90 million, only $40 million has been committed by investors and is ready to be deployed into startups. The fund is backed by the African Development Bank’s Sustainable Energy Fund for Africa (SEFA), the Green Climate Fund, the Schmidt Family Foundation, and the Quadrature Climate Foundation.
“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,” said João Duarte Cunha, Head of Division of the African Development Bank, which oversees SEFA. “Our support for this fund reflects the Bank’s broader commitment to scaling innovative low-carbon solutions and mobilising private capital to accelerate Africa’s clean energy future.”
Mark your calendars! Moonshot by is back in Lagos on October 15–16! Meet and learn from Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Get your tickets now: moonshot..com
