Energy Access Ventures Fund
Last updated 12 May 2020, by Impactyield.
Emerging countries (256) / Africa (127) / Eastern Africa (50) / Burundi (2)
Energy Access Ventures invests in growing, entrepreneurial businesses in Sub-Saharan Africa addressing the lack of electrification in the region with new technology and innovative business models.
The fund is backed by Schneider Electric, the leading French multinational, and a number of public-sector investors. The Fund is partners of CDC Group – the UK Department for International Development (DFID), European Investment Bank, FISEA – PROPARCO, OFID, and AFD- FFEM.
EAV aims to transform lives and stimulate economic development across Africa by providing access to electricity for a million people by 2020.
Energy Access Ventures invests in growing, entrepreneurial businesses in Sub-Saharan Africa addressing the lack of electrification in the region with new technology and innovative business models. The Fund combines unique features around equity and debt, as well as hands- on technical assistance / expertise capacity
of track record
the year funded
Key performance indicators
Asset manager: Energy Access Ventures
Product track record: Fund has 8 years of track record
Target IRR: 10%
Committed Capital: 42,000,000 EUR (Euro)
Target return category: Risk-adjusted market-rate of return
Fund domicile: France
Product status: Open - committed capital
Style/Stage: Early Stage, Growth Stage
Inception year: 2015
Vintage year: 2015
Target region: Africa, Burundi, Eastern Africa, Emerging countries
Target close date: 01/02/2015
Product term: n.a.
Assets under management: 60,000,000 EUR (Euro)
Investment size: Min: 0; Max: 0; Avg: 2,000,000
Currency of investments: EUR (Euro)
Currency for fund / product figures: EUR (Euro)
Fund investments to date: 0
Fund investments to date exited or repaid: 0
Management fee: 2.7%
Carried interest: 20%
Hurdle rate: n.a.
GIIN Investors' Council Investment: No
Limited Partners / Investors: Schneider Electric, CDC Group – the UK Department for International Development (DFID), European Investment Bank, FISEA – PROPARCO, OFID and AFD- FFEM
Limited Partner / Investor Type: n.a.
Phone number: +254 705 721 145
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Dr Michael Gera
The Energy Access Ventures Fund will provide long-term funding to support access to energy for the poorest populations by strengthening local energy infrastructure. The Fund will target smaller businesses in Africa that specialize in promoting low-carbon and low cost electricity access solutions in rural areas and close to main towns that cannot access regular finance. The EAV fund will transform lives and stimulate economic development across Africa by providing access to electricity for a million people by 2020.
With 587 million people without electricity access, Africa accounts for the largest share of un-electrified people. Access to electricity is the first incremental level of access to energy services to fulfill basic human needs.
As the Fund plans to provide electricity access to at least 1,000,000 low income individuals living in rural and peri- urban areas, it will only invest in businesses that are able to positively deliver direct and/or indirect access to energy for low income households, and related broader social impacts to local communities. For instance, such social impacts may be the number of jobs created in local communities, or the development of local entrepreneurs.