Proparco particilates in energy fund's first close

Proparco announced a $6 million investment in the first close of the E3 Low Carbon Economy Fund I (E3 LCEF), based out of Nairobi, Kenya. E3 LCEF focuses on innovative entrepreneurs that set up early-stage businesses offering low carbon decentralised and smart services across sub-Saharan Africa.

E3 Capital and the general partner, Cygnum Capital Group (previously Lion’s Head Global Partners), have announced a first close for the E3 LCEF at $48 million last month and seeks further financing to get to its final close of up to $100 million within 12 months.