IFC proposes commitment to Inspired Evolution fund

The IFC has disclosed a proposed equity investment of up to $30 million in the Evolution Fund III.

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The International Finance Corporation (IFC) has disclosed a proposed equity investment of up to $30 million in Evolution Fund III, established by private equity firm Inspired Evolution.

The fund seeks to invest in renewable energy development platforms – covering solar, hydro, wind, and battery energy storage systems – and provide growth capital to companies specialising in energy resource efficiency.

The fund has a total committed capital target cap of $400 million.

The fund will make investments predominantly across various countries in sub-Saharan Africa, and potentially select countries in North Africa.

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