Top 15 Renewable Energy VC (Venture Capital) Funds in Nigeria in October 2023

Portfolio highlights

• Koolboks — Koolboks provides a reliable and alternative storage technique due to the superior insulation and ice battery technology employed in the design.
• Salpha Energy — We are addressing the huge market need for energy by enabling people harness the infinite source of light that freely accessible to everyone.
• Mobile Power Ltd — Mobile Power's innovative pay-per-use battery sharing network unlocks clean energy for households, businesses and electric transport in Sub-Saharan Africa.

Portfolio highlights

• Sava — Sava is a multi-management platform that provides an unlimited number of virtual cards as well as automated accounting reconciliation.
• Stitch — One API integration for all online payments across South Africa. Accept Instant EFT, debit + credit card, cash, direct deposit and debits. Manage + reconcile digital payments and send payouts.
• Bettr — Bettr is a digital banking app for creator. Download the app to get your zero monthly fee digital bank account and virtual card. Join our community of creators, gamers, influencers, freelancers, tiktokkers, streamers, YouTubers and digital gig workers.

Portfolio highlights

• Miniplast — Miniplast Limited is one of the leading manufacturers of Industrial and Household products in Ghana with over 25 years of experience in the sector.
• Hela Clothing — Hela Clothing is a clothing manufacturer. From design to delivery, the firm collaborates closely with brands in the intimate, sleepwear, and children's product lines. With design centers in major markets, they can watch and predict customer preferences. This enables us to provide their customers with unique design options that fit theirrequirements.
• OH Ecosystems — OH Ecosystems is a confectionary company that produces and operates cocoa processing and confectioneries.

Portfolio highlights

• Kasha — Kasha is an innovative e-commerce platform based in East Africa, built for women's health, personal care and beauty products accessibility within urban and rural areas.
• Satya MicroCapital — Satya MicroCapital is an NBFC-MFI that offers collateral-free credit to micro enterprises on the basis of strong credit assessment and a centralised approval system.SATYA started its microfinance operations by adopting the “Joint Liability Group (JLG) Model” with adequate use of technology and new adaptations. JLGs of SATYA means implementationsof Joint Liability of group members which exists up to 10 instalments in Bi-Weekly collections. The Company believes in the ideology to bring social touch and high technology in the Indian microfinance industry.The JLG lending operation mainly focuses on a woman (in case of SATYA, her husband acts as co-borrower) through a credit product that allows her to start a new business or enhance her existing business as well. SATYA provides prompt, convenient and affordable collateral-free credit to people at the bottom of the pyramid through a strong credit assessment and centralized approval.The Company started its microfinance operation from Sikandrabad Branch, Bulandshar District of Uttar Pradesh and the first token disbursement was done in November 2016. SATYA utilized demonetization as an opportunity to rework on the business strategy through cashless transactions. SATYA is an institution build with a vision of change, transformation and will be a differentiator in financial inclusion space and its approach is well recognized by industry experts and professionals across different sectors. SATYA is committed to being a socially responsible organization with a focus on Health, Education, Financial Literacy, Nasha-Mukt Samaaj, Gender Equality, and Swachh Bharat. The Company is spreading social awareness messages in its area of operations.
• Kentegra Biotechnology Holdings LLC — Kentegra Biotechnology Holdings is a leading U.S-Kenyan company that supports a Kenyan-based biopesticide processing business that aggregates, extracts, and refines pale refine extract (PRE) from the pyrethrum flower, and sells the PRE to formulators across the world. Kentegra is committed to improving farmer’s livelihoods by investing in thecommunities where we are working to help farmers and their families have a more stable income and better quality of life.Grants: Norad 2021, AgriFi 2020, USAID 2020, USAID 2019, DEG 2020, DEG 2019

Portfolio highlights

• WeLight — WeLight deploys sustainable and accessible solutions to accelerate energy inclusion in rural areas of Africa.
• Okra Solar — Okra Solar is an IoT technology solution that enables solar generating communities to share and utilize more energy. It is a plug-and-play smart grid technology that enables rapid electrification for last-mile communities. Using mobile payments, modular grid design, and remote monitoring, they provide utility companies with a low-cost, data-drivensolution to operate solar networks in hard to reach communities. They are on a mission to connect off-grid communities to the modern economy.Okra Solar was founded in 2016 and is headquartered in Sydney, Australia.
• Solarise Africa — Solarise Africa is a pan African energy leasing company for solar PV and other energy assets focusing on Commercial and Industrial (C&I) clients. Its business model is designed for scalability. Solarise Africa focuses on providing smart financing through close collaboration with a selected group of partners across solar and other renewableenergy technologies. For solar PV it is focusing on captive rooftop and ground mounted solar projects ranging from 100kW to 3MW. It is currently active in Kenya, looking to open in South Africa and has plans to expand into East, Southern and West Africa.

Portfolio highlights

• iProcure — iProcure is a Nairobi-based start-up working to optimize the agriculture input supply chain in rural Kenya. iProcure’s web and mobile technology solution improves agriculture retailers’ operations. It lets them manage ordering based on inventory, point of sale activities, and client profiles along with geo-located purchasing patterns, real-timeagent performance and transaction analysis, and built-in mobile payments. As a result, retailers can better predict demand with business intelligence data, improve inventory management, and streamline distribution efficiency.
• Trackbit — Trackbit is a cryptocurrency exchange platform.
• Afrikamart — Afrikamart is a west African distribution platform for fresh produce that offers its marketing services to producers - suppliers - and operates as a digital purchasing center for retailers, hotels and restaurants - customers.We combine extensive use of digital with its experience in the food value chain to: - Facilitate information exchangebetween suppliers and customers (purchase price, sale price, product availability, harvest and purchase forecasts) - Organize end-to-end logistics with a network of transporters - Optimize financial and product flows according to different purchase and payment termsOur team includes experienced technology driven individuals with a strong experience in food commodity trading. Afrikamart brings pragmatic solutions to solve food value chain inefficiencies in West Africa while empowering hundreds of underprivileged women and young people with economic opportunities.

Portfolio highlights

• Nuru — Nuru is a solar hybrid site. Nuru (Swahili for "light") is a company dedicated to enhancing connectivity in the Democratic Republic of Congo. Nuru deployed Congo's first solar-based mini-grid in 2017 and is currently constructing a 1.3MW solar hybrid site in Goma, the largest off-grid mini-grid in sub-Saharan Africa.Nuru is arenewable and environment company that specializes in the fields of storage micro-grids and solar energy. The company deployed Congo's first solar-based mini-grid in 2017 and is currently constructing a 1.3MW solar hybrid site in Goma.Nuru was founded in 2015 and headquartered in Goma, Nord-Kivu, Congo.
• Sabesp — Sabesp is a Brazilian company that engages in providing basic sanitation services such as distribution of treated water, collection, and treatment of sewage. It is currently responsible for supplying water and collecting and treating sewage in the 367 municipalities of São Paulo state. It supplies 27.9 million people with water and provides sewagecollection services to 21.5 million people.Sabesp was founded in 1973 and is headquartered in Sao Paulo, Brazil.
• Complete Farmer — We are providing cutting-edge technological farming protocols and innovations with a unique business model and logistics that are revolutionizing...

Portfolio highlights

• Dioxycle — Dioxycle is develop electrolyser solutions for carbon dioxide emissions.
• Boston Metal — We're on a mission to transform how metals are made. Our breakthrough technology produces emissions-free liquid iron.
• Sortera Technologies — Sortera Alloys manufactures low-cost, high-quality metal alloys for domestic manufacturing using its artificial intelligence technology.

Portfolio highlights

• Rensource Energy — Rensource develops, finances, and manages critical energy infrastructure for African enterprises with the objective of powering Africa's economy

Portfolio highlights

• Snapplify — Snapplify is at the forefront of edtech solutions in Africa, and specialises in enabling digital learning for individuals and institutions via the largest digital educational marketplace in Africa. As a global edtech company, Snapplify strives for radical inclusion to level the playing field and equip individuals across emerging markets with theworld-class tools they need to collaborate, innovate and thrive. Snapplify’s technology is used in other educational products to facilitate collaboration throughout the educational community.Snapplify for Education’s award-winning platform is already a top choice for institutions integrating digital education into their classrooms. From software to support, Snapplify provides institutions with everything they need to create a secure, collaborative e-learning environment for students. Snapplify’s robust 24-hour-access digital-library solution offers thousands of free ebooks and widely applicable, curriculum-approved educational content supplied by partner publishers from across the globe. Snapplify’s diversity of device integration allows schools to use its products on the devices that they already have access to, without having to invest in costly digital infrastructure upgrades. Snapplify’s solutions are industry celebrated and globally recognised for their innovation in technology.In order to achieve its educational goals, Snapplify has built strong relationships with diverse partners around the growth of its ebook, e-textbook, and device catalogue, and partnered with international publishers and other key stakeholders to meet the demand for widely relevant, curriculum-compliant digital educational content. As a socially minded company, Snapplify is committed to supporting others and creating sustainable change through collaboration and innovation. Snapplify empowers, inspires, and uplifts teachers via Teacha! (a media hub, resource marketplace, and careers portal for educators); is the digital content partner on a project that delivers technology and e-learning to public schools in South Africa’s Gauteng province, and runs impact programmes through the Snapplify Foundation.Snapplify originated in South Africa, focusing initially on the South African education and digital content industries. Since its establishment in 2012, the company has grown and expanded into new markets in Africa and the United States, with offices across South Africa, as well as in Nairobi, London, Amsterdam and New Jersey. Snapplify is backed by AngelHub Ventures, a venture capital company backed by former First National Bank CEO Michael Jordaan and the Harris family, as well as international investors. In 2019, Snapplify secured $2 million expansion capital from venture capital firm Knife Capital, and empowered African investment manager Hlayisani Capital’s Hlayisani Growth Fund.Snapplify for Education’s award-winning platform is already a top choice for institutions integrating digital education into their classrooms. From software to support, Snapplify provides institutions with everything they need to create a secure, collaborative e-learning environment for students. Through Snapplify’s e-learning and digital library solution, Engage, educators can share teacher-created, multimedia resource materials with students; administrators can manage the access and permissions for multiple student and staff accounts; schools can host their own 24-hour access digital content library (which comes with over 50 000 free resources including study guides, e-textbooks, past exam papers for multiple curricula, children’s books in African languages and more); and students and parents can purchase prescribed e-textbooks. Snapplify’s diversity of device integration allows schools to use its products on the devices that they already have access to, without having to invest in costly digital infrastructure upgrades. Snapplify’s solutions are industry celebrated and globally recognised for their innovation in technology.
• Starsight Energy — Starsight delivers comprehensive, end-to-end solar solutions that help businesses reduce energy costs and shrink their carbon footprints.
• Eastcastle Infrastructure — Track record of providing reliable and sustainable connectivity for consumers and communities in Africa

Portfolio highlights

• Infibranches Technologies — Infibranches Technologies provides digital payment services to solar energy providers.

Portfolio highlights

• Rensource Energy — Rensource develops, finances, and manages critical energy infrastructure for African enterprises with the objective of powering Africa's economy

Portfolio highlights

• Rensource Energy — Rensource develops, finances, and manages critical energy infrastructure for African enterprises with the objective of powering Africa's economy

Portfolio highlights

• Thunes — Payment infrastructure for a connected world.
• Africell Holding — Africell was established in 2001 in Africa and has been shaped by traditional African values, putting the communities in their markets at the heart and soul of our business. Connecting and empowering local communities lies at the very core of our strategy. Africell is one of the fastest-growing mobile telecommunications operators in Africa. Theyhave established theirselves as the number one provider in Gambia and Sierra Leone and are rapidly growing our newer operations in Democratic Republic of the Congo (DRC) and Uganda, where we purchased Orange Uganda. Africell Holding owns 100% of Africell’s operations in Gambia, Sierra Leone, DRC, and 98.99% of Africell Uganda. The total number of active subscribers reached 11 million by end of 2016. All four operations offer voice and 3G data services with plans to deploy LTE services, which are already available in Kampala, Uganda.
• Zola Electric — ZOLA Electric designs renewable energy solutions based on the latest in solar, battery and power electronics technology. Adaptable to energy need and income, ZOLA Electric’s solar systems can be bought over time using PAYGo micro-finance leasing and mobile money payments. ZOLA Electric powers more than 180,000 homes and businesses across Tanzania,Rwanda, Côte d’Ivoire and Ghana. Investors include Tesla, Vulcan Capital, DBL Partners, Helios Investment Partners, EDF, Total and GE Ventures. ZOLA Electric is a recipient of the UN Momentum for Change Award, the Zayed Future Energy Prize and is a member of the Global Cleantech 100.

Portfolio highlights

• Credpal — Buy now, pay later. Split in 6.
• Yep! — Yep! is a financial super app leveraging technology to deliver seamless financial services and solutions to all Africans.
• Encore Pay — Encore Pay is a UAE-based FinTech and Payment solutions provider.