FSD Africa backs South Africa-based venture fund
FSD Africa backs South Africa-based venture fund
FSD Africa’s Early-Stage Finance Pillar is investing $150,000 in the Holocene Ventures Fund.
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FSD Africa’s Early-Stage Finance Pillar is investing $150,000 in the Holocene Ventures Fund (HVF), a climate tech start-up venture capital provider that seeks to raise an initial $2 million to invest in 12 high impact climate businesses.
HVF I will provide the track record and pipeline to raise a $30m pre-seed to series A climate tech fund in 2025. The investment by FSD Africa comes alongside investments from other angel investors across Europe, USA and Africa.
Holocene, based out of South Africa, has created an investment platform for climate conscious individual and institutional investors seeking climate positivity and venture capital returns. HVF I will provide pre-seed financing, combining both cash and venture building services, to climate tech start-ups, recognising the need for diverse financial solutions to scale climate businesses.
To date, Holocene has made six investments from its permanent capital vehicle as well as another four investments from HVF I.
Mary Kashangaki, assistant manager for digital innovations at FSD Africa says, "We need to think differently about how we finance Africa’s green transition. FSD Africa’s investment in Holocene offers an exciting opportunity to work with experts to build a new kind of venture capital fund that is flexible enough to meet the unique financing needs of early-stage climate ventures."
Josh Romisher, CEO of Holocene says, "Africa is incredibly important in the global climate conversation. Holocene is very eager to partner with innovative investors such as FSD Africa to prove African climate tech can deliver measurable climate impact and VC returns."
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