Eight organizations have invested about $94 million into South Africa’s first private equity clean technology fund, Evolution One, in an effort to increase new energy and environment-focused technologies across the Southern African Development Community (SADC) countries.
Founder and main backer, UK-based Consensus Business Group, brought seven other international organizations onboard including the IFC, Finnish Fund of Industrial Cooperation, Swiss Investment Fund for Emerging Markets, Global Energy Efficiency and Renewable Energy Fund, European Investment Fund, African Development Bank, Norwegian Investment Fund for Developing Countries, and the Industrial Development Corp. of South Africa.
The fund will also invest in proven technologies with backing ranging from about $1.4 million to $14 million. Inspired Evolution will be the advisor to the Evolution One fund.
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