Norfund

Norfund is a Norwegian government organization founded in 1997, based in Oslo, that focuses on reducing poverty and enhancing economic development in low-income countries. It serves as an active, strategic minority investor, providing risk capital, equity, and loans to businesses in regions where access to financing is limited. Primarily operating in Sub-Saharan Africa, as well as selected areas in Southeast Asia and Central America, Norfund aims to foster sustainable business growth in environments where the private sector is underdeveloped. The organization also invests in small and medium-sized enterprises (SMEs) to further support local economic initiatives. Through its investments, Norfund seeks to create a significant positive impact on the economies of the countries it targets.

Sarita Bartlett

Investment Manager of Social, Environment and Governance (SEG)

Vegard Benterud

Investment Director, Funds

Bernt Christian Brun

Vice President, Funds

Nic Christoforou

Senior Investment Manager

Cathrine Kaasen Conradi

Chief Financial and Risk Officer & Head, Human Resources

Mark Davis

Executive Vice President, Clean Energy

Elin Ersdal

Investment Director Food and Agribusiness

Vegard Halvorsen

Investment Director

Birgette Kolrud

Senior Investment Manager

Chishamiso Mawoyo

Investment Director, Southern Africa

Teeranun Newachuen

Senior Investment Associate

Kristin L. Sellevold

Senior Investment Manager, Funds

Hege Holst Skalmerud

Investment Manager

Tellef Thorleifsson

Chief Executive Officer

Andrew James Tillery

Senior Investment Manager

Past deals in Kenya

d.light

Venture Round in 2021
d.light is a company that designs, manufactures, and distributes solar lighting and power products, primarily aimed at households and small businesses lacking reliable electricity. Founded in 2007 as a for-profit social enterprise, d.light has developed a range of products, including solar lanterns, home systems, and various appliances, to serve over 2 billion people globally. With distribution hubs in East and West Africa, India, Southeast Asia, and the United States, the company has reached over 65 million individuals, providing affordable and accessible solar solutions. d.light is committed to transforming energy usage and payment methods, enhancing the quality of life for users in rural and semi-urban areas through its innovative solar-powered products. The company operates from its headquarters in Palo Alto, California, with additional offices in key locations such as Shenzhen, China; Gurgaon, India; Nairobi, Kenya; Kampala, Uganda; and Lagos, Nigeria.

d.light

Series E in 2018
d.light is a company that designs, manufactures, and distributes solar lighting and power products, primarily aimed at households and small businesses lacking reliable electricity. Founded in 2007 as a for-profit social enterprise, d.light has developed a range of products, including solar lanterns, home systems, and various appliances, to serve over 2 billion people globally. With distribution hubs in East and West Africa, India, Southeast Asia, and the United States, the company has reached over 65 million individuals, providing affordable and accessible solar solutions. d.light is committed to transforming energy usage and payment methods, enhancing the quality of life for users in rural and semi-urban areas through its innovative solar-powered products. The company operates from its headquarters in Palo Alto, California, with additional offices in key locations such as Shenzhen, China; Gurgaon, India; Nairobi, Kenya; Kampala, Uganda; and Lagos, Nigeria.

M-KOPA

Debt Financing in 2017
M-KOPA Kenya Limited, established in 2011 and headquartered in Nairobi, specializes in developing and marketing solar home systems designed for off-grid customers. The company offers a range of solar products, including systems equipped with lights, phone charging capabilities, and solar-powered radios. M-KOPA began commercial operations in Kenya in 2012 and has since expanded its services to Uganda and Tanzania. The company operates through a network of over 1,000 retail agents and shops, employing a team of more than 500 staff. M-KOPA is recognized for its innovative "pay-as-you-go" energy services, which leverage a proprietary technology platform that integrates mobile payments and asset financing, facilitating access to affordable energy solutions for underserved communities. The firm is also exploring opportunities to license its technology to reputable partners in markets beyond East Africa.

responsAbility Renewable Energy Holding

Private Equity Round in 2017
responsAbility Renewable Energy Holding are energy efficiency and renewable energy investments are dedicated to contributing to the mitigation of climate change through the reduction of greenhouse gas emissions.

d.light

Grant in 2017
d.light is a company that designs, manufactures, and distributes solar lighting and power products, primarily aimed at households and small businesses lacking reliable electricity. Founded in 2007 as a for-profit social enterprise, d.light has developed a range of products, including solar lanterns, home systems, and various appliances, to serve over 2 billion people globally. With distribution hubs in East and West Africa, India, Southeast Asia, and the United States, the company has reached over 65 million individuals, providing affordable and accessible solar solutions. d.light is committed to transforming energy usage and payment methods, enhancing the quality of life for users in rural and semi-urban areas through its innovative solar-powered products. The company operates from its headquarters in Palo Alto, California, with additional offices in key locations such as Shenzhen, China; Gurgaon, India; Nairobi, Kenya; Kampala, Uganda; and Lagos, Nigeria.

Freight in Time

Private Equity Round in 2016
Freight in Time Limited provides logistic solutions in Africa. The company provides sea freight, air freight, project cargo, express and courier, warehousing and distribution, and inter-regional transportation solutions, as well as sea air solutions from the east. It serves perishables, pharmaceutical and healthcare, telecommunications and ICT, humanitarian and relief, mining, and oil and gas sectors. The company was founded in 1998 and is based in Nairobi, Kenya.

Globeleq

Private Equity Round in 2015
Globeleq Generation Limited develops, builds, and operates renewable power projects in Africa and the Americas. It operates a portfolio of natural gas, solar, wind, HFO, and fuel oil power generation assets. The company was founded in 2002 and is based in London, United Kingdom with regional offices in Nairobi, Kenya; Cape Town, South Africa; and Doula, Cameroon.

Vertical Agro

Venture Round in 2015
Vertical Agro Limited is an independent, vertically integrated company based in Naivasha, Kenya, specializing in the production, processing, exporting, and marketing of fresh and frozen vegetables and fruits. The company operates a state-of-the-art processing facility that adheres to strict food safety standards, ensuring high-quality products for its customers. As a leading grower and exporter in the region, Vertical Agro focuses on delivering the best quality produce, thereby meeting the demands of both local and international markets.

Advans Group

Private Equity Round in 2015
Advans Group is an international microfinance organization established in August 2005 and headquartered in Luxembourg. As the venture capital investment arm of Horus Development Finance, it specializes in providing equity, loans, and guarantees primarily to microfinance institutions across Africa, the Middle East, and Asia. Advans Group aims to strengthen local businesses, enhance job creation, and improve living standards, thereby promoting private sector-led economic and social development in these regions. One of its subsidiaries, Advans Tunisie, focuses on offering microfinance and credit solutions tailored for retailers, wholesalers, artisans, small industries, services, and small-scale farmers in Tunisia. As a majority shareholder in its investments, Advans Group typically assumes a lead role in the microfinance institutions it supports.

Basecamp Explorer AS

Venture Round in 2010
Basecamp Explorer AS, through its subsidiaries, provides tour services to see the natural environments. Basecamp Explorer AS was formerly known as Ecco Travel Group AS and changed its name to Basecamp Explorer AS on May, 2002. Its tourist destinations include Svalbard, Norway; Masai Mara and Lamu, Kenya; Solovki, Russia; Rajasthan and Dharamsala, India; and Pyrenees, France, as well as Spitsbergen in Arctic Circle. Basecamp Explorer AS was formerly known as Ecco Travel Group AS. The company was founded in 1998 and is based in Oslo, Norway. It has subsidiaries in Norway, Sweden, Kenya, India, and Russia.

Family Bank Ltd

Private Equity Round in 2010
Family Bank is a fully-fledged commercial bank since May 2007. The Bank is regulated by the Central Bank of Kenya (CBK) and is a member of the Kenya Deposit Insurance Corporation. The Bank is growing with over 1.7 million customers and a network of 93 branches countrywide. It was the first Bank in Kenya to introduce paperless banking through smart card technology.

Serena Hotels

Private Equity Round in 2010
Serena Hotels create buildings of outstanding ethnic design; to offer the highest standards of service and product.