Home Evolution III Fund Evolution III Fund In brief Finnfund committed USD 20 million to the first close of Evolution III Fund. It is a Pan-Africa fund focusing on investments in renewable and sustainable energy infrastructure, energy access, and energy efficiency solutions. The fund is advised by a South Africa-based fund manager Inspired Evolution. Main development impact Evolution III Fund is a Pan-African climate fund. Most investments in the pipeline are in lower-middle-income countries in Sub-Saharan Africa. The investment strategy prioritises grid and off-grid power producers, C&I customers, and digital technology companies. It operates in one of Finnfund’s focus sectors and areas and meets the 2X Challenge criteria. Evolution III Fund will contribute to the energy market transformation in Africa and make power more accessible, cheaper, and cleaner for a large variety of customers ranging from urban C&I clients to rural households. The fund seeks to support innovative business models and digital and information technology solutions for climate change. The fund and its portfolio companies will contribute to local economic development, job creation, and government revenues. Investment details Name: Evolution III Fund Project number: 80000419 Region: Africa Country: Africa Sector: Energy Signing date (month/year): March 2023 Currency: USD Finnfund's financing (commitment): 20,000,000 Instrument: Fund Status: Active Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year. Companies financed by the fund Name Sector Region Country No data found. Read our transparency and disclosure policy More information: Ajankohtaista ja julkaisut Nykyiset investoinnit Toimialat Yhteystiedot Key facts Name: Evolution III Fund Sector: Energy Region: Africa Country: Africa Currency: USD Finnfund's financing (commitment): 20,000,000 Signing date (month/year): March 2023 Last update: December 2023