Soros Economic Development Fund backs Persistent climate vehicle with $7m
The $70 million fund targets early-stage climate ventures across Africa.
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The Soros Economic Development Fund (SEDF), the impact investment arm of the Open Society Foundations, has announced a $7 million investment in Persistent’s Africa Climate Venture Builder Fund (ACV Fund), a $70 million blended fund focused on early-stage climate innovation across Africa.
Persistent is a Mauritius-based climate venture builder and early-stage investor that backs and helps build climate-focused businesses across Africa.
“This investment reflects SEDF’s commitment to supporting scalable, high-impact solutions that foster a climate-positive future in Africa – and to unlocking private sector capital for climate resilience and transition. It also aims to further demonstrate that locally led green growth – climate action and job creation – are mutually reinforcing and critical pillars of an open society,” the firm said in a statement.
“SEDF is proud to co-invest alongside FSD Africa, African Development Bank Group, Nordic Development Fund, Japan International Cooperation Agency , Impact Fund Denmark (formerly IFU), The Schmidt Family Foundation, and the Cottier Donze Foundation, with additional investors expected to join in subsequent closings.”
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