Proparco backs Equator Africa Fund
Proparco has announced a $5 million investment in the Equator Africa Fund.
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Proparco has announced a $5 million investment in the Equator Africa Fund, through its FISEA+ facility.
Equator invests in climate tech ventures in three sectors: energy, agriculture, and mobility.
Fabrice Perez, head of the venture capital division at Proparco, said: “Through this investment, we aim to support ventures addressing the urgent climate challenges in sub-Saharan Africa. Equator’s approach echoes our own commitment to driving sustainable development and climate resilience in the region. We believe these ventures hold promise for a sustainable future, enhancing both Africa’s economic strength and environmental resilience.”
Nijhad Jamal, managing partner at Equator, said, “We are extremely proud to have Proparco participate in our fund and to join Equator’s mission to provide much-needed capital and active hands-on support to early-stage climate-tech ventures at a critical juncture in their start-up journey. In addition to partnering with Equator, Proparco is uniquely positioned to provide expertise, networks and capital directly to our portfolio companies as they scale across the region.”
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