Launch of Gaia Energy Impact Fund II
Schneider Electric, Capelan, Capital Croissance and Investisseurs & Partenaires (I&P) have teamed up with Gaia Impact to launch the Gaia Energy Impact Fund II (GEIF II), a venture capital fund specialising in the energy transition in Africa and the support of entrepreneurs with high environmental and social impact. The fund targets €80 million in commitments.
The GEIF II fund will be managed by Capital Croissance, while the Gaia Impact team will act as exclusive advisor. Schneider Electric and Capelan will each invest €15 million. I&P will offer technical assistance to the Gaia Impact team.
The GEIF II fund will invest equity and quasi-equity, between €500,000 and €5 million, in around 20 companies in the early (Seed and Series A) or growth phase (Series B). The majority of investments will be made in companies operating in Africa (up to 15% in other emerging countries) in the sectors of energy access, productive use of energy, electric mobility, new energies and enabling technologies.
The coalition targets an initial closing of €40 million in 2023 and a final closing in the first half of 2024.
Hélène Demaegdt, president-founder of Gaia Impact said, “We are delighted to be joined by new partners. Thanks to them, our action in favour of the energy transition in Africa takes a new dimension. We are convinced that this new coalition of expert and complementary actors aligned on the same vision will allow the Gaia Impact team to strengthen its social and environmental impact, by promoting the conditions of economic.”
Christophe Poline, director for sustainable investments at Schneider Electric commented, “GEIF II is a great opportunity for Schneider Electric to reinforce its commitment to promote clean and efficient energy for the development of communities in sub-Saharan Africa. This commitment is part of Schneider Electric’s actions for a just transition worldwide. With our experience in solidarity and impact investing, we are convinced that the partnership with Gaia Impact, I&P and Capital Croissance will bring the efficiency and professionalism necessary to achieve the project’s impact objectives.”
Eric Neuplanche, president-founder of Capital Croissance said, “We were seduced by the achievements and the great professionalism of the Gaia Impact team since 2017 and even more by the very strong environmental and social ambition of this impact fund: over the life of the fund, we aim to create 20,000 jobs, give access to energy to 4,000,000 people who are currently without it and save 4,000,000 tonnes of CO2 by substituting polluting energy with decarbonised energy. The entire Capital Croissance team is very proud and extremely motivated to be associated with the Gaia Impact, I&P and Schneider Electric team.”
Jeremy Hajdenberg, co-CEO of Investisseurs & Partenaires added, “Impressed by the dynamism and expertise of the Gaia Impact team, we are determined to bring I&P’s complementary perspective and to implement numerous synergies on the ground. Acting in favour of renewable energies in Africa is an obvious urgency and we are proud to participate, with Schneider Electric and Capital Croissance, in this initiative supporting entrepreneurs who are transforming Africa and implementing innovative solutions every day.”