Energy Access Ventures partners with Lion's Head for second Africa fund
The Energy Access Ventures (EAV) team and Lion’s Head have announced a partnership to launch the E3 Low Carbon Economy Fund I, EAV’s successor fund. The fund will be a venture capital fund investing in new generation climate smart and climate transition businesses in Africa.
EAV has nearly a decade of experience as a hands-on equity investor in early-stage businesses committed to the climate transition. Lion’s Head have built a robust, well-governed, and high-integrity asset management business that has invested across the African continent providing loans to renewable energy and energy-efficiency businesses. Together the two parties hope they can leverage their core strengths and expertise for a new venture capital fund investing across the continent.
Africa’s entrepreneurs are sending a strong signal that they will not sit on the side-lines and watch their precious natural habitats and resources fall victim to global climate change. The level of innovation and willingness to take risks shown by founders across the continent is impressive and gives confidence that a path towards a more sustainable future can be found. To recognise the increasing breadth of potential innovative and commercial solutions brought by these dynamic entrepreneurs that will underpin the move towards less carbon intensive economic activity, EAV will be changing its name to E3, which stands for Enabling Emerging Entrepreneurs. The new E3 Low Carbon Economy Fund I will embrace the creative potential of Africa’s entrepreneurs and support those business with start-up capital that can shape the path of Africa’s productive low carbon economies.
“We are thrilled to join forces with the Lion’s Head team. We have worked with the team for over six years on many transactions and admire and respect their pragmatic yet rigorous approach to doing business,” said Paras Patel, managing partner of EAV. “Not only do they bring a wealth of experience across emerging markets but they are committed to a productive low climate transition and therefore we see many synergies and long-term vision alignment.”
“We are excited to partner with EAV on their new E3 Low Carbon Economy Fund I. EAV has built a strong portfolio on the continent in new industries and have in-depth experience working with early-stage businesses to grow to the next level. As E3, Paras and his team support a philosophy that perfectly aligns with Lion’s Head’s objectives of contributing to a sustainable future for all in Africa,” notes Clemens Calice, co-CEO of Lion’s Head.
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