Inspired Evolution Fund III

Date: 2024

Asset Class: Real Assets/Private Equity

Description:  Inspired Evolution III is a fund that follows a hybrid investment strategy, comprising both infrastructure-type (~70%) and growth equity (~30%) investments in Sub-Saharan Africa. In the former category, the Fund will invest into advanced greenfield and eligible brownfield infrastructure projects. In the latter, the Fund will provide expansion capital to relatively mature companies, avoiding technology risk. The Fund targets three primary verticals: renewable energy, resource efficiency, and energy access.

Why We Invest: Currently, over 640 million Africans lack access to energy. Some African countries have an abundance of fossil fuel resources, which creates a temptation to invest in fossil fuel infrastructure to meet growing energy needs. However, these investments would lock the continent into decades of fossil fuel usage. There is an urgent need for investments in large- and small-scale renewable energy to avoid the risks of population displacement, food and water insecurity, and illness or death from air pollution caused by climate change.