# Top 50 Energy VC (Venture Capital) Funds in Africa in October 2023

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Electrification Financing Initiative | 10 | United States, Kenya, Nigeria | Debt Financing, Series A | Energy, Solar, Renewable Energy |
| E3 Capital | 10 | Kenya, United States, Ghana | Series A, Seed, Convertible Note | Solar, Energy, Renewable Energy |
| Norfund | 6 | Kenya, South Africa, United Kingdom | Private Equity, Debt Financing | Energy, Financial Services, Renewable Energy |
| Factor[e] Ventures | 6 | United States, India, Kenya | Seed, Series A, Angel | Energy, Renewable Energy, Agriculture |
| Lion’s Head Global Partners | 6 | Kenya, France, Senegal | Debt Financing | Renewable Energy, Solar, Energy |
| Acumen | 6 | United States, India, Kenya | Seed, Series A | Financial Services, Health Care, Agriculture |
| Kepple Africa Ventures | 5 | Nigeria, Kenya, Egypt | Seed, Pre-Seed | Financial Services, FinTech, Software |
| Novastar Ventures | 5 | Kenya, Nigeria, United States | Series A, Series B | Agriculture, Internet, Clean Energy |
| Aster | 5 | France, United States, United Kingdom | Series A, Series B | Software, Energy, Solar |
| All On | 5 | Nigeria, France, Senegal | Seed, Grant | Energy, Solar, Renewable Energy |
| Opes Impact Fund | 4 | Kenya, India, Italy | Seed, Series A | Energy, Social Entrepreneurship, Renewable Energy |
| GAIA Impact Fund | 4 | Singapore, France, Uganda | Series A, Seed | Solar, Energy, Renewable Energy |
| SunFunder | 4 | The Netherlands, Kenya, Mauritius | Debt Financing, Series C | Solar, Energy, Renewable Energy |
| DOB Equity | 3 | Kenya, Rwanda, Tanzania | Private Equity, Seed | Food and Beverage, Farming, Health Care |
| VilCap Investments | 3 | United States, India, Kenya | Seed, Series A | Financial Services, Health Care, FinTech |
| Shell Foundation | 3 | India, Kenya, United States | Grant, Seed, Series A | Energy, Agriculture, Solar |
| Global Partnerships | 3 | Kenya, United States | Series A, Seed | Clean Energy, Renewable Energy, Solar |
| LoftyInc Capital Management | 3 | United States, Nigeria, Egypt | Seed, Pre-Seed, Series A | FinTech, Financial Services, Software |
| Blue Haven Initiative | 3 | Kenya, United States, Ghana | Series A, Series B, Seed | Solar, Energy, Financial Services |
| CRE Venture Capital | 3 | South Africa, Nigeria, United States | Seed, Series A, Pre-Seed | Financial Services, FinTech, Software |
| KFW DEG | 2 | India, Kenya, Nigeria | Debt Financing, Grant | Financial Services, Finance, Banking |
| CDC Group | 2 | India, Nigeria, Kenya | Debt Financing, Series B | Financial Services, Banking, Finance |
| Investisseurs & Partenaires | 2 | France, Senegal, Côte d'Ivoire | Seed, Series A | Financial Services, Health Care, Food and Beverage |
| Inspired Evolution Investment Management | 2 | Nigeria, Mauritius, United States | Series A, Series E | Energy, Renewable Energy, PaaS |
| Musha Ventures | 2 | United States, Nigeria, Kenya | Seed, Pre-Seed, Series A | Financial Services, Software, FinTech |
| Helios Investment Partners | 2 | Nigeria, United Kingdom, United States | Private Equity, Debt Financing | Financial Services, Energy, Oil and Gas |
| Persistent Energy Partners | 2 | Nigeria, Senegal, Zimbabwe | Seed, Series B | Energy, Solar, Software |
| Triodos Investment Management | 2 | India, Germany, Kenya | Debt Financing, Series A | Financial Services, FinTech, Energy |
| Generation Investment Management | 2 | United States, Canada, France | Series D, Series E | Software, SaaS, Energy |
| Launch Africa | 2 | Nigeria, South Africa, Kenya | Seed, Pre-Seed | Financial Services, FinTech, Information Technology |
| Alphamundi | 2 | Kenya, Mexico | Series B, Series A, Debt Financing | Agriculture, Solar, Energy |
| Oikocredit International | 2 | India, Nigeria, Ghana | Debt Financing, Series B | Financial Services, Finance, FinTech |
| Finnfund | 2 | Kenya, India, South Africa | Debt Financing, Series B | Financial Services, FinTech, Renewable Energy |
| Goodwell Investments | 2 | Kenya, Nigeria, South Africa | Series A, Series B | FinTech, Financial Services, Software |
| Better Ventures | 2 | United States, Kenya, Germany | Seed, Pre-Seed, Series A | Health Care, Biotechnology, Software |
| GIIG Africa Fund | 2 | Kenya, Nigeria, United States | Seed | Environmental Engineering, Health Care, Ride Sharing |
| Anaxago | 2 | France, Belgium, Cameroon | Series A, Seed, Series B | Biotechnology, Health Care, SaaS |
| Maroc Numeric Fund | 2 | Morocco, Canada, France | Series A, Seed, Pre-Seed | Online Portals, Enterprise Software, FinTech |
| EcoEnterprises Fund | 2 | Kenya, Mexico | Series A, Series C | Agriculture, Energy, Biomass Energy |
| FMO | 2 | India, The Netherlands, Kenya | Debt Financing, Series B | Financial Services, Finance, FinTech |
| DILA Capital | 2 | Mexico, United States, Colombia | Series A, Seed | E-Commerce, FinTech, Financial Services |
| Proparco | 2 | India, Kenya, Mauritius | Debt Financing, Series B | Financial Services, Finance, Energy |
| ENGIE Rassembleurs d'Energies initiative | 2 | France, India, Kenya | Series A, Seed, Series C | Solar, Agriculture, Energy |
| CoCapital | 2 | Kenya, Mexico | Series A, Series C | Agriculture, Energy, Biomass Energy |
| AXA Investment Managers | 2 | United States, Kenya, Spain | Series B, Series C | Biotechnology, Health Care, Medical |
| Persistent | 2 | Ghana, Cameroon, South Africa | Seed, Series A | Solar, Energy, Clean Energy |
| Mani Kapital | 2 | Kenya |  | Communities, Clean Energy, Renewable Energy |
| Origin Capital Management | 1 | Nigeria, United States, United Kingdom | Seed, Series A | Health Care, Energy, Software |
| Partners Group | 1 | United States, Switzerland, China | Private Equity, Secondary Market | Software, Manufacturing, Health Care |
| D3 Jubilee | 1 | South Korea, United States, Kenya | Seed, Series A | Information Technology, Software, Health Care |

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