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 Nigeria

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.

Starsight Energy

Debt Financing in 2021
Starsight Energy provides premier clean on-grid and off-grid energy services to commercial and industrial clients in Africa. We make clean energy a smart bottom-line decision for clients by eliminating all up-front costs. Clients pay an all-inclusive monthly fee for end-to-end service.

Starsight Energy

Debt Financing in 2020
Starsight Energy provides premier clean on-grid and off-grid energy services to commercial and industrial clients in Africa. We make clean energy a smart bottom-line decision for clients by eliminating all up-front costs. Clients pay an all-inclusive monthly fee for end-to-end service.

Sundry Foods Limited

Private Equity Round in 2019
Sundry Foods Limited is a prominent food services provider based in Port Harcourt, Nigeria, established in 2004. The company operates a chain of quick service restaurants under the brand name "Kilimanjaro," which has become a market leader in the sector. Sundry Foods offers a diverse range of services, including industrial catering, housekeeping, events catering and management, and bakery services. The company is known for its innovative fast food concept that merges traditional Nigerian cuisine with Western fast food, catering primarily to the growing middle class market across major Nigerian cities such as Lagos, Port Harcourt, and Abuja.

Arnergy

Series A in 2019
Arnergy Solar Limited is a Nigerian company established in 2013, specializing in the manufacture, installation, and maintenance of modular, micro-grid ready systems designed for solar energy utilization. The company's product offerings include the Arnergy 3000 and Arnergy 5000 systems, which aim to provide sustainable energy solutions for businesses. Arnergy's mission focuses on delivering energy solutions that enhance operational efficiency and economic outcomes for clients, particularly in emerging markets. Through its innovative approach, Arnergy addresses energy reliability challenges, contributing to improved productivity and sustainability in various sectors.

Starsight Energy

Debt Financing in 2019
Starsight Energy provides premier clean on-grid and off-grid energy services to commercial and industrial clients in Africa. We make clean energy a smart bottom-line decision for clients by eliminating all up-front costs. Clients pay an all-inclusive monthly fee for end-to-end service.

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.

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.

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.