FSD Africa Investments backs Africa Climate Ventures
FSD Africa Investments (FSDAi) has injected £1 million into Africa Climate Ventures (ACV), a venture builder aiming to construct a $45 million portfolio and catalyse the carbon asset class in Africa.
The venture is unique for its African-based founder team, permanent capital structure based in Kigali, and sole focus on carbon mitigation, capture, and removal.
The venture builder has already begun constructing climate-positive businesses across Africa, aiming to launch and scale 15 ventures in the next four years. Its current portfolio includes KOKO Networks Rwanda, a sustainable bioethanol cooking fuel provider, and Great Carbon Valley, a Kenya based developer of direct-use clean energy applications currently focused on developing a direct air capture and permanent carbon storage site.