Evolution II LP

View of the Roggeveld wind farm in South Africa

In brief

Evolution II is a 10-year closed-ended fund with a mandate for equity and equity-related investments into two principal investment streams: development and project finance infrastructure-type investments in clean and sustainable energy and growth equity investments in energy and resource efficiency companies and the value chains that support them.

Main development impact

The Fund is expected to create a positive development impact by mitigating power shortages in Sub-Saharan Africa. The main direct impact will come from job creation, tax revenues, and power production.

Investment details

Name: Evolution II LP
Project number: 80000051
Region: Africa
Country: Africa
Sector: Energy
Signing date (month/year): June 2018
Currency: USD
Finnfund's financing (commitment): 15,000,000
Instrument: Fund
Share of Finnfund's financing (%): 14,63 %
Status: Active
Website: https://inspiredevolution.co.za/funds/evolution-two-fund/

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
Alten Development Other manufacturing Africa Sub-Saharan Africa
Alten Hardap Solar power Africa Namibia
Alten Kesses Solar power Africa Kenya
Commercial Energy SA Retail trade Africa South Africa
d.light Banks and finance Africa Sub-Saharan Africa
Escotel Mauritius Solar power Africa Burundi
General du Solaire Solar power Africa Nigeria
Gigawatt Global Burundi SA (Mubuga Solar) Solar power Africa Nigeria
ManoCap Energy Solar power Africa Sub-Saharan Africa
Red Rocket Holding Other manufacturing Africa Sierra Leone and Liberia
Rensource Holdings Inc Electric power generation Africa Senegal
Sabi Holding Technical services Africa Burundi
Virtus Energy Solutions Limited Electric power generation Africa Ghana and Sierra Leone

Key facts

Name:

Evolution II LP

Sector:

Energy

Region:

Africa

Country:

Africa

Currency:

USD

Finnfund's financing (commitment):

15,000,000

Signing date (month/year):

June 2018

Last update:

May 2023