Norfund

Norfund, established in 1997, is a Norwegian government organization based in Oslo. It is an economic development agency that provides equity, risk capital, and loans to businesses in selected countries and sectors where access to capital is scarce. Its primary focus is Sub-Saharan Africa, with additional investments in South East Asia and Central America. Norfund aims to contribute to poverty reduction and economic development in these regions by supporting sustainable businesses through strategic minority investments.

Anders Blom

Investment Manager, Clean Energy

Fay Chetnakarnkul

Regional Director - Asia

Mark Davis Ph.D

Executive Vice President, Clean Energy

Carlos Escobar

Senior Investment Manager, Financial Institutions

Naana Fynn

Regional Director - West Africa

Pal Helgesen

Investment Director

Finn Ivar Marum

Executive Vice President

Athivadee Panuvatvanich

Investment Associate

Ellen Rasmussen

Executive Vice President, Green Infrastructure and Scalable Enterprises

Kjell Roland

Managing Director and CEO

Lisa Thomsen

Senior Investment Manager, Clean Energy

Tellef Thorleifsson

CEO

Kristoffer Valvik

Investment Manager

Donald Kariuki

Investment Manager

81 past transactions

Omnibiz

Series A in 2025
Omnibiz is a B2B e-commerce platform based in Lagos, Nigeria, founded in 2019. It specializes in serving FMCG manufacturers, distributors, and retailers by digitizing the supply chain to enhance operational efficiency. The platform offers tools that improve reliability, visibility, and financial capability for local businesses. Its software features order tracking and integrated payment options, enabling seamless transactions and helping businesses navigate the complexities of the modern market. Omnibiz is dedicated to supporting local enterprises in achieving their goals through an optimized supply chain framework.

Arnergy

Series B in 2025
Arnergy is a provider of sustainable energy solutions focused on delivering clean and reliable energy products for both businesses and homes. The company aims to address energy reliability issues in emerging markets by offering scalable, affordable, and dependable energy systems. Arnergy's products and services are designed to improve economic outcomes for clients by enabling them to access and install distributed energy systems that tackle challenges related to intermittency and grid unreliability. Through its mission, Arnergy seeks to empower businesses and residential customers with energy solutions that support productive use and sustainable development.

Pele Energy Group

Venture Round in 2025
Pele Energy Group owns and runs renewable energy infrastructure in addition to providing economic and community development consulting services.

AgDevCo

Venture Round in 2025
AgDevCo is a specialist investor that focuses on agribusinesses to support small and medium-sized enterprises. They invest in African agribusinesses with debt and equity to create jobs, improve food security, and boost prosperity. Their investments enable large amounts of private capital to be leveraged into socially responsible farming and agri-processing businesses in Africa, with significant benefits for smallholder farmers and local communities.

CrossBoundary

Private Equity Round in 2025
CrossBoundary is a New York-based investment advisory firm established in 2011, specializing in frontier markets. It offers services such as capital raising, strategic advisory, due diligence, and market assessment to a diverse range of clients, including governments, development finance institutions, and private equity firms. In 2014, the firm founded CrossBoundary Energy, an investment firm based in Nairobi, Kenya, focusing on infrastructure investments, particularly solar power for African businesses. CrossBoundary Energy provides financing for distributed solar projects ranging from 100kW to 10MW, aiming to facilitate the transition from diesel to renewable energy generation.

India Grid Trust

Post in 2024
India Grid Trust, established in 2016 by Sterlite Power Grid Ventures Limited, operates as an infrastructure investment trust registered with SEBI. The company focuses on power transmission projects in India, leveraging its sponsor's expertise in bidding, designing, financing, constructing, and maintaining transmission infrastructure. With a strong track record in the private sector, India Grid Trust plays a pivotal role in the country's power transmission sector, contributing to the development and maintenance of critical infrastructure across India.

Kim-Fay

Debt Financing in 2024
Kim-Fay produces home and kitchen essentials, baby care and baby nutrition, cleaning essentials, feminine hygiene, and skin care.

Access Bank

Debt Financing in 2024
Access Bank, established in 1988 and headquartered in Lagos, Nigeria, is a commercial bank that offers a wide range of banking products and services to individual and business customers. The bank operates in Ghana and provides various accounts, including standard savings and current accounts, as well as specialized options such as access advantage and premier accounts. Access Bank also offers online banking services, facilitating ATM transactions, online access, point-of-sale terminal services, bill payments, and Western Union money transfers. In addition to personal banking, the bank provides corporate and investment banking, commercial and business banking services, along with mortgage loans and sustainable international banking solutions.

Xurya

Venture Round in 2024
Xurya is a renewable energy platform that facilitates the transition to solar energy for commercial and industrial rooftop owners. It offers a solar lease product that allows these owners to access solar technology without the upfront costs typically associated with installation. At the same time, Xurya provides investors with a stable and secure investment opportunity in rooftop solar plants. The company focuses on delivering comprehensive services, including renewable energy advisory, financing options, and ongoing maintenance, which ensures both rooftop owners and investors experience peace of mind throughout their partnership. By streamlining the process of switching to solar energy, Xurya aims to accelerate the adoption of renewable solutions and contribute to a greener future.

SeA Bank

Post in 2024
SeA Bank is a banking institution that provides various services. The bank gives small businesses, large enterprises, and individuals access to a variety of banking products and services, including daily banking services, cards, including debit and credit cards, savings services, home loans, auto loans, and international transaction services. While preserving the expansion of large organizations, it places an emphasis on professional households and small and medium-sized businesses. SeA Bank was established in 1994 in Hanoi, Vietnam.

Candi

Series C in 2024
Candi is a solar company specializing in small-scale commercial and industrial rooftop solar battery solutions. It focuses on harnessing solar energy by offering installation and operational services for rooftop solar systems. Candi aims to deliver solar and storage services at reduced costs, helping businesses and individuals lower their energy expenses while also contributing to a decrease in carbon emissions. Through its innovative solutions, the company seeks to generate long-term value for its clients by promoting sustainable energy practices.

AwanTunai

Series B in 2024
AwanTunai is a fintech company based in Jakarta Timur, Indonesia, founded in 2017. It focuses on digitizing the traditional fast-moving consumer goods (FMCG) supply chain by providing a mobile application that connects micro merchants with essential financial services. The platform allows users to access working capital loans and facilitates online ordering, customer management, and payment acceptance. AwanTunai aims to enhance financial inclusion for individuals who lack access to conventional banking products by offering mobile-based credit and connecting them with lenders. As a regulated fintech institution, it has the capability to originate, service, and collect bank-compliant loan assets, ensuring comprehensive customer control. Additionally, AwanTunai collaborates with global insurance institutions to offer auto-trigger micro-insurance protection, contributing to the overall welfare of its users.

Bayport Financial Services Zambia

Debt Financing in 2024
Bayport Financial Services Zambia is a micro-finance institution in Zambia.

SAEL

Venture Round in 2024
SAEL is a green energy company based in New Delhi, India, that focuses on advancing sustainable development through innovative renewable energy solutions. Specializing in waste-to-energy generation and solar projects, SAEL aims to reduce carbon footprints and promote energy independence. The company develops and manages sustainable infrastructure, providing a comprehensive range of services from design and construction to operation and maintenance. With a commitment to driving the transition towards a low-carbon economy, SAEL contributes to the economic and social development of the communities it serves by delivering reliable and eco-friendly energy solutions.

Pele Energy Group

Debt Financing in 2023
Pele Energy Group owns and runs renewable energy infrastructure in addition to providing economic and community development consulting services.

Pele Green Energy

Debt Financing in 2023
Pele Green Energy is an Independent Power Producer focused on the development, ownership, procurement, construction, and operation of renewable energy power projects in Africa. The company specializes in both small-scale embedded generation and utility-scale power plants, positioning itself as a leading participant in South Africa's Renewable Energy Independent Power Producer Procurement Programme. By delivering electricity generated from renewable sources, Pele Green Energy aims to contribute to sustainable energy solutions in the region.

Ecobank

Post in 2023
Ecobank Transnational Incorporated, established in 1985 and headquartered in Lomé, Togo, provides a range of retail, corporate, and investment banking services across Africa and internationally. Its operations include Corporate & Investment Banking, Commercial Banking, and Consumer Banking, offering products such as current and savings accounts, loans, cards, and digital banking services. The bank serves a diverse clientele, including individuals, small and medium enterprises, multinationals, government agencies, and non-governmental organizations. With a network of 888 branches and over 2,460 ATMs, Ecobank facilitates various financial services, including treasury, cash management, remittance, and bancassurance. Subsidiaries such as Ecobank Nigeria Limited and Ecobank Zimbabwe Limited extend its services, focusing on commercial and retail banking tailored to local markets.

Funding Societies

Debt Financing in 2023
Funding Societies, established in 2015 and headquartered in Singapore, operates a digital financing platform that connects small and medium-sized enterprises (SMEs) with investors. The company facilitates business loans, focusing on quick and efficient financing solutions, often bypassing traditional banking methods. It offers a range of flexible financing options, including micro and term loans, and invoice financing, using advanced credit scoring and risk assessment models. With operations across Southeast Asia, including Singapore, Malaysia, Indonesia, and Thailand, Funding Societies caters to SMEs seeking accessible and timely financing.

Modalku

Debt Financing in 2023
Modalku is an online marketplace based in Jakarta, Indonesia, designed to connect small businesses seeking loans with lenders looking to fund these loans. By leveraging technology, Modalku offers borrowers access to financing options that may not be available through traditional channels, often at lower interest rates. Lenders participating in the platform can achieve returns that surpass those typically found in bank deposits and traditional investment products. This marketplace lending model has been successfully implemented in various countries, including the USA, UK, China, and Singapore, demonstrating its effectiveness in supporting small business growth.

Fourth Partner Energy

Private Equity Round in 2023
Fourth Partner Energy is a Hyderabad-based company specializing in turnkey rooftop solar energy solutions for customers in India. Founded in 2010, it focuses on manufacturing solar energy applications, including solar lanterns, home lighting systems, solar street lights, and photovoltaic panels. The company aims to build, develop, and manage a significant portfolio of decentralized solar power assets, positioning itself as a leading provider of renewable energy services in the region. In addition to its product offerings, Fourth Partner Energy provides financial structuring, design, turnkey execution, and panel cleaning services, ensuring customers have access to efficient power generation and maintenance solutions. As an MNRE empanelled Channel Partner and an ISO 9001:2008 certified company, it collaborates with various state bodies to promote sustainable energy initiatives.

Wecyclers

Debt Financing in 2023
Wecyclers is a waste recycling service that aims to promote environmental sustainability and social welfare in Lagos, Nigeria. The company enables households to capture value from their waste by collecting recyclable materials such as plastic bottles, plastic bags, and aluminum cans. Utilizing a fleet of low-cost, bicycle-powered collection vehicles known as "wecycles," Wecyclers collaborates with the Lagos Waste Management Authority to facilitate waste collection at the household level. Households are incentivized through a rewards system that offers redeemable points based on the volume and quality of recyclables they provide. Wecyclers sorts and aggregates the collected materials, which are then sold to local recyclers, thereby supporting the recycling industry and fostering a more sustainable environment.

Miniplast

Venture Round in 2023
Miniplast is a manufacturer of Industrial and Household products in Ghana with over 30 years of experience in the sector.

OH Ecosystems

Venture Round in 2023
OH Ecosystems is a confectionary company that produces and operates cocoa processing and confectioneries.

Sun King

Debt Financing in 2023
Sun King is a solar energy company that specializes in providing off-grid power solutions across Africa and Asia. It designs, manufactures, and distributes solar home systems, inverter systems, and portable lanterns, targeting communities with limited access to reliable electricity. Sun King offers pay-as-you-go financing options, enabling customers to acquire these products through small, affordable installments over time. The company collaborates with international distribution partners to expand its reach within the off-grid market.

Hela Clothing

Venture Round in 2023
Hela Clothing Pte. Ltd. is a Sri Lankan manufacturer and distributor of apparel and accessories, established in 1992 and headquartered in Colombo, with additional offices in North America, Asia, and the European Union. The company specializes in producing a diverse range of clothing, including casual wear, intimate wear, sleepwear, and children's apparel. Hela Clothing collaborates closely with brands to deliver tailored design solutions that align with customer preferences. Their offerings include products such as bras, panties, men's underwear, kids' sleepwear, school wear, and athleisure items. Through its design centers located in key markets, Hela Clothing effectively monitors and anticipates market trends, ensuring a responsive approach to customer needs.

Erco Energía

Series B in 2023
Erco Energía S.A.S is a Colombian company founded in 2012, specializing in the development and operation of renewable energy generation projects. Headquartered in Medellín, with additional offices in Cali and Bogotá, the company focuses on designing and installing solar photovoltaic systems, electric vehicle infrastructure, and electric energy storage solutions. Through its commitment to sustainable energy, Erco Energía aims to contribute to the transition towards cleaner energy sources in Colombia.

Samanu

Venture Round in 2023
SAMANU is a fast-moving consumer goods platform with well-established brands, including Tena Edible Oils, 555 and Aura Soap and Detergents, and Chef Luca Wheat Products.

SAEL

Venture Round in 2023
SAEL is a green energy company based in New Delhi, India, that focuses on advancing sustainable development through innovative renewable energy solutions. Specializing in waste-to-energy generation and solar projects, SAEL aims to reduce carbon footprints and promote energy independence. The company develops and manages sustainable infrastructure, providing a comprehensive range of services from design and construction to operation and maintenance. With a commitment to driving the transition towards a low-carbon economy, SAEL contributes to the economic and social development of the communities it serves by delivering reliable and eco-friendly energy solutions.

Empower New Energy

Series B in 2022
Empower New Energy specializes in facilitating the transition to renewable energy for commercial, industrial clients, and local communities. The company identifies and prepares renewable energy projects for investment, secures financing for construction, and manages the assets post-construction. By mobilizing international capital and collaborating with partners such as commercial banks, Empower New Energy aims to accelerate the shift from fossil fuels to renewable energy sources in developing countries.

CrossBoundary

Private Equity Round in 2022
CrossBoundary is a New York-based investment advisory firm established in 2011, specializing in frontier markets. It offers services such as capital raising, strategic advisory, due diligence, and market assessment to a diverse range of clients, including governments, development finance institutions, and private equity firms. In 2014, the firm founded CrossBoundary Energy, an investment firm based in Nairobi, Kenya, focusing on infrastructure investments, particularly solar power for African businesses. CrossBoundary Energy provides financing for distributed solar projects ranging from 100kW to 10MW, aiming to facilitate the transition from diesel to renewable energy generation.

Wave Mobile Money

Debt Financing in 2022
Wave Mobile Money is a financial technology company focused on providing app-based solutions for saving, transferring, and borrowing money in Africa. With a mission to create the first cashless continent, Wave aims to address the challenge of limited access to banking services, as less than 10% of the African population has a bank account. The company is developing an inclusive financial network that offers no account fees and allows for instant transactions, making it accessible to a broader audience. By leveraging technology, Wave is creating affordable financial services that enable individuals to manage their money effectively, thereby fostering economic empowerment and contributing to poverty alleviation. Its platform supports various services, including deposits, withdrawals, bill payments, and money transfers, facilitating cashless transactions for users and businesses alike.

Lona Group

Venture Round in 2022
Lona Group is a manufacturer and exporter of citrus products based in Cape Town, South Africa. The company specializes in a diverse range of agricultural products, including grapefruit, mangoes, grapes, pears, plums, avocados, pomegranates, lemons, and oranges, along with various vegetables. Through its export operations, Lona Group plays a significant role in the global supply chain for fresh produce, providing high-quality fruits and vegetables to international markets.

Red Sun

Venture Round in 2022
Red Sun is a processor and distributor of dried fruits such as raisins and nuts. Red Sun products contain a variety of vitamins and minerals, including iron, potassium, calcium, and certain B vitamins.

AgDevCo

Venture Round in 2022
AgDevCo is a specialist investor that focuses on agribusinesses to support small and medium-sized enterprises. They invest in African agribusinesses with debt and equity to create jobs, improve food security, and boost prosperity. Their investments enable large amounts of private capital to be leveraged into socially responsible farming and agri-processing businesses in Africa, with significant benefits for smallholder farmers and local communities.

Sun King

Debt Financing in 2021
Sun King is a solar energy company that specializes in providing off-grid power solutions across Africa and Asia. It designs, manufactures, and distributes solar home systems, inverter systems, and portable lanterns, targeting communities with limited access to reliable electricity. Sun King offers pay-as-you-go financing options, enabling customers to acquire these products through small, affordable installments over time. The company collaborates with international distribution partners to expand its reach within the off-grid market.

d.light

Venture Round in 2021
D.light is a developer of solar home lighting and power products aimed at providing clean energy solutions to rural and semi-urban populations. The company offers a range of solar goods, including lights, radios, televisions, fans, and other home appliances, all powered by rechargeable solar kits. By making these products accessible and affordable, D.light seeks to improve health, increase productivity, and enhance the overall quality of life for its users.

Baobab+

Funding Round in 2021
Baobab+ is a social business dedicated to enhancing access to energy and digital technology for underprivileged communities. The company offers a range of innovative products, including solar kits, smartphones, and cookstoves, all available through financing solutions tailored to the needs of local populations. By providing these essential tools, Baobab+ aims to improve living standards, enable income generation, and facilitate greater participation in the digital economy.

Fourth Partner Energy

Private Equity Round in 2021
Fourth Partner Energy is a Hyderabad-based company specializing in turnkey rooftop solar energy solutions for customers in India. Founded in 2010, it focuses on manufacturing solar energy applications, including solar lanterns, home lighting systems, solar street lights, and photovoltaic panels. The company aims to build, develop, and manage a significant portfolio of decentralized solar power assets, positioning itself as a leading provider of renewable energy services in the region. In addition to its product offerings, Fourth Partner Energy provides financial structuring, design, turnkey execution, and panel cleaning services, ensuring customers have access to efficient power generation and maintenance solutions. As an MNRE empanelled Channel Partner and an ISO 9001:2008 certified company, it collaborates with various state bodies to promote sustainable energy initiatives.

Amartha

Venture Round in 2021
Amartha is a microfinance technology platform dedicated to fostering economic growth at the grassroots level by facilitating connections between micro and small to medium-sized enterprises (SMEs) and investors. The platform enables entrepreneurs, particularly in rural areas, to access microfinance loans through user-friendly mobile applications and websites. By bridging the gap between potential lenders and borrowers, Amartha aims to create equal opportunities for prosperity, thereby contributing to the overall development of local economies.

Brighter Life Kenya 1

Debt Financing in 2021
Brighter Life Kenya 1 Limited (BLK1), an indirect subsidiary of AFC incorporated in Jersey, was incorporated to acquire pay-as-you-go solar home system accounts receivables from d.light Limited (d.light Kenya), providing d.light Kenya with flexible working capital to finance its continued growth.

Starsight Energy

Debt Financing in 2021
Starsight Energy specializes in providing clean energy solutions to commercial and industrial clients across Africa, focusing on both on-grid and off-grid services. The company offers sustainable solar power and energy efficiency services, along with cooling solutions. By employing a team of experienced engineers, Starsight Energy customizes energy storage systems to meet specific application needs and budget constraints. This approach enables clients to achieve significant cost savings while also reducing their carbon emissions. Notably, Starsight Energy eliminates upfront costs by allowing clients to pay a monthly fee for comprehensive services, making clean energy a financially viable choice.

Escotel

Series A in 2020
Escotel is an energy services company currently focused on Sub-Saharan Africa countries. Escotel provides energy services to mobile tower owners and operators, owning and operating decentralized renewable energy infrastructure across Africa

Starsight Energy

Debt Financing in 2020
Starsight Energy specializes in providing clean energy solutions to commercial and industrial clients across Africa, focusing on both on-grid and off-grid services. The company offers sustainable solar power and energy efficiency services, along with cooling solutions. By employing a team of experienced engineers, Starsight Energy customizes energy storage systems to meet specific application needs and budget constraints. This approach enables clients to achieve significant cost savings while also reducing their carbon emissions. Notably, Starsight Energy eliminates upfront costs by allowing clients to pay a monthly fee for comprehensive services, making clean energy a financially viable choice.

Sun King

Private Equity Round in 2020
Sun King is a solar energy company that specializes in providing off-grid power solutions across Africa and Asia. It designs, manufactures, and distributes solar home systems, inverter systems, and portable lanterns, targeting communities with limited access to reliable electricity. Sun King offers pay-as-you-go financing options, enabling customers to acquire these products through small, affordable installments over time. The company collaborates with international distribution partners to expand its reach within the off-grid market.

Yoma Bank

Funding Round in 2020
Yoma Bank Limited is a leading domestic bank based in Yangon, Myanmar, established in 1993. The bank offers a range of banking products and services aimed at meeting the needs of its customers. It has made substantial investments in key areas such as technology, people, and corporate governance to enhance its operational capabilities. Recently, Yoma Bank has focused on upgrading its credit risk management and finance functions, improving treasury operations, and developing new banking products. Additionally, the bank has implemented a new core banking system to streamline its processes and better serve its clientele.

Sundry Foods

Private Equity Round in 2019
Sundry Foods Limited is a prominent food services provider based in Port Harcourt, Nigeria. Founded in 2004, it operates a chain of quick-service restaurants across various cities, including Lagos and Abuja, and is best known for its brand "Kilimanjaro," which has become a market leader in the fast food sector. The company specializes in a diverse range of offerings, including industrial catering, housekeeping, events catering and management, and bakery services. By combining traditional Nigerian cuisine with Western fast food concepts, Sundry Foods targets Nigeria's growing middle class, providing fresh meals that cater to a wide array of cultural preferences and food cravings.

Arnergy

Series A in 2019
Arnergy is a provider of sustainable energy solutions focused on delivering clean and reliable energy products for both businesses and homes. The company aims to address energy reliability issues in emerging markets by offering scalable, affordable, and dependable energy systems. Arnergy's products and services are designed to improve economic outcomes for clients by enabling them to access and install distributed energy systems that tackle challenges related to intermittency and grid unreliability. Through its mission, Arnergy seeks to empower businesses and residential customers with energy solutions that support productive use and sustainable development.

Starsight Energy

Debt Financing in 2019
Starsight Energy specializes in providing clean energy solutions to commercial and industrial clients across Africa, focusing on both on-grid and off-grid services. The company offers sustainable solar power and energy efficiency services, along with cooling solutions. By employing a team of experienced engineers, Starsight Energy customizes energy storage systems to meet specific application needs and budget constraints. This approach enables clients to achieve significant cost savings while also reducing their carbon emissions. Notably, Starsight Energy eliminates upfront costs by allowing clients to pay a monthly fee for comprehensive services, making clean energy a financially viable choice.

d.light

Series E in 2018
D.light is a developer of solar home lighting and power products aimed at providing clean energy solutions to rural and semi-urban populations. The company offers a range of solar goods, including lights, radios, televisions, fans, and other home appliances, all powered by rechargeable solar kits. By making these products accessible and affordable, D.light seeks to improve health, increase productivity, and enhance the overall quality of life for its users.

Yoma Micro Power

Venture Round in 2018
Yoma Micro Power is a company that focuses on building, owning, and operating small-scale power plants and mini-grids in off-grid regions of Myanmar. Its primary objective is to generate and distribute electricity to underserved rural communities and telecommunication towers, facilitating access to reliable power. The company utilizes a combination of photovoltaic solar modules, diesel generators, and energy storage solutions to power its projects. Through its mini-grids, Yoma Micro Power connects surrounding households, thereby enhancing the quality of life in these areas by providing essential electricity services.

Sunshine

Private Equity Round in 2017
Sunshine is a pick-me-up of good energy with no artificial nonsense. It offers 3 different flavors including Ginger Berry, Blueberry Lemonade, and Clementine Twist– all of which are packed with vitamins, electrolytes, and just enough caffeine to deliver the perfect pick-me-up. In a market overrun with extreme energy drinks, Sunshine is pioneering efforts to redefine the energy category by bringing good energy to consumers with the promise of great taste, no artificial flavors, lower sugars, and only 60 calories per can.

M-Kopa

Debt Financing in 2017
M-Kopa is a company that offers connected asset financing solutions aimed at underbanked customers. By leveraging a platform that integrates digital micropayments and Internet of Things (IoT) technology, M-Kopa facilitates access to essential products and services, including solar lighting, televisions, refrigerators, smartphones, and financial services. The company's innovative approach allows individuals without credit histories or substantial assets to secure financing, thereby improving their quality of life through affordable and accessible everyday essentials.

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.

Yoma Micopower PDF

Private Equity Round in 2017
Electricity infrastructure development is a priority for Myanmar to drive economic growth. According to the World Bank only 16 percent of rural households in Myanmar are connected to the power grid1. The demand for power far exceeds the available production capacity, resulting in regular blackouts. The limited production and distribution of power severely hamper economic development and the powering of telecommunications towers.

Verde Beef Processing

Private Equity Round in 2017
Verde Beef Processing PLC is a beef production company located in Adami Tulu, Ethiopia, established in 2014. The company operates a feedlot on a 1,300-hectare farm, specializing in cattle farming and industrial livestock production. Verde Beef is involved in the processing of raw beef and exports its products to markets in the Middle East, Africa, and Asia, offering premium quality Ethiopian beef. Led by experienced agribusiness managers, Verde Beef aims to enhance the local agribusiness landscape while meeting international demand for high-quality beef products.

d.light

Grant in 2017
D.light is a developer of solar home lighting and power products aimed at providing clean energy solutions to rural and semi-urban populations. The company offers a range of solar goods, including lights, radios, televisions, fans, and other home appliances, all powered by rechargeable solar kits. By making these products accessible and affordable, D.light seeks to improve health, increase productivity, and enhance the overall quality of life for its users.

Freight in Time

Private Equity Round in 2016
Freight in Time Limited is a logistics company based in Nairobi, Kenya, specializing in integrated freight and supply chain solutions across East Africa, including South Sudan, Ethiopia, and Djibouti. Established in 1998, the company offers a range of services, including sea freight, air freight, project cargo, express and courier services, as well as warehousing and distribution. Its operational footprint extends across key sectors such as perishables, pharmaceuticals, telecommunications, humanitarian relief, and oil and gas. Freight in Time provides both regional cross-border air and road freight services, along with full truckload and less than container load solutions, ensuring comprehensive support for its clients' logistical needs at major ports, airports, and border points throughout the region.

Myanmar Finance International

Seed Round in 2015
Myanmar Finance International Ltd. (MFIL) was established on September 1, 2014, through a partnership between Myanmar Finance Company Limited, a local entity, and Myanmar Investments Limited, a Singaporean firm. Based in Yangon, MFIL operates as a microfinance institution, offering financial services to small businesses and entrepreneurs. The company specializes in providing microfinance solutions that enable clients to develop and expand their enterprises without the need for physical collateral. Additionally, MFIL provides deposit-taking services, allowing clients to securely save their funds while accessing essential financial support to grow their operations.

Globeleq

Private Equity Round in 2015
Globeleq Generation Limited is a company that develops, builds, and operates renewable power projects primarily in Africa and the Americas. It manages a diverse portfolio of power generation assets, including natural gas, solar, wind, heavy fuel oil, and fuel oil facilities. By utilizing a range of power-generating technologies, Globeleq aims to support the growth of local communities and foster a sustainable future. Its operations focus on providing reliable energy solutions that positively impact the regions it serves.

Vertical Agro

Venture Round in 2015
Vertical Agro Limited is an independent grower, processor, exporter, and marketer of fresh and frozen vegetables and fruits, operating from a state-of-the-art processing facility in Naivasha, Kenya. The company is recognized as a leading producer of high-quality fresh and frozen vegetables, adhering to stringent food safety and quality standards throughout its operations. Vertical Agro is committed to ensuring that customers have access to premium farm produce, leveraging its expertise in agricultural practices and processing techniques to deliver exceptional products to the market.

Advans Microfinance Network

Private Equity Round in 2015
Advans Microfinance Network is an international microfinance group that supports small businesses and underserved populations in Africa, the Middle East, and Asia. Founded in 2005 and headquartered in Luxembourg, Advans focuses on providing a range of financial services, including microloans, SME loans, insurance, and fund transfers. The organization aims to strengthen local businesses and improve living standards, contributing to private sector-led economic and social development. Advans operates through various microfinance institutions, such as Advans Tunisie, which offers tailored financial solutions to retailers, artisans, small industries, and farmers. By addressing the financial needs of these groups, Advans plays a crucial role in fostering entrepreneurship and job creation in the regions it serves.

GigaWatt Global

Private Equity Round in 2014
GigaWatt Global is dedicated to promoting energy sustainability and independence in the regions it serves. The company specializes in developing and managing large-scale solar energy projects, with a focus on emerging markets. To achieve its goals, GigaWatt Global collaborates with financial partners, governments, development groups, and institutions to create socially responsible investments. By constructing and managing solar projects, the company helps emerging countries advance their renewable energy initiatives.

Confianza

Venture Round in 2014
Confianza provides microfinance services in El Salvador.

Renewable Energy Holdings

Private Equity Round in 2014
REH focuses on the development, construction and operation of green-field and refurbished independent power plants (IPPs) in the range of 5MW to 50 MW across Southern Africa.

African Century Infrastructure Services

Private Equity Round in 2014
African Century is a private equity firm established in 2008 and located in Grand Baie, Mauritius. The firm focuses on investments in various sectors, including food, financial services, real estate, and agriculture. Additionally, African Century Infrastructure Services, a subsidiary, specializes in leasing equipment to support the oil and gas industry in Tanzania and Mozambique. This division provides large-scale machinery and equipment, such as forklifts and portable heavy-duty cranes, to facilitate industrial development in these regions.

SN Power

Private Equity Round in 2013
SN Power is a company dedicated to investing in clean, renewable energy within emerging markets, with a specific focus on hydropower. The firm operates in Southeast Asia, Africa, and Central America, where it acquires, develops, constructs, and manages hydropower assets. It has several operational hydropower plants located in The Philippines, Laos, Zambia, and Panama. Headquartered in Oslo, Norway, SN Power also maintains an office in Amsterdam, Netherlands, and employs a multinational team to support its global operations and projects.

Asilia Africa

Private Equity Round in 2013
Asilia Africa Ltd. is an ecotourism company based in Arusha, Tanzania, founded in 2004. It operates 13 luxury camps and lodges, offering a range of safari experiences, including flying safaris and combinations of safari and beach properties. The company is dedicated to providing travelers with immersive wildlife experiences while promoting conservation and sustainable economic models in the regions where it operates. By integrating personal service and expert guiding in its remote locations, Asilia Africa aims to deliver unforgettable safari adventures that positively impact both the environment and local communities. Through its commitment to responsible tourism, the company strives to enhance the future of nature and improve the lives of people living in some of Africa's most pristine habitats.

DFCU Group

Private Equity Round in 2013
DFCU Bank, established in 1964 and headquartered in Kampala, Uganda, offers a range of commercial banking products and services. The bank provides savings and investment accounts, personal and corporate credit, trade finance, and foreign exchange services. It also facilitates medium and long-term financing for various sectors, including agriculture, education, health, manufacturing, transport, hospitality, tourism, and construction. DFCU Bank actively promotes small and medium enterprises and supports women in business through its tailored financial solutions. With a network of 63 branches and 100 ATMs, the bank ensures accessible banking through internet and mobile platforms, allowing customers to manage their finances conveniently and securely. As a subsidiary of Arise B.V., DFCU Bank has played a significant role in Uganda's economic development.

First Finance MFI

Venture Round in 2013
The company is focused on providing a long-term Home Loan and medium-term Home Improvement Loans to underserved low-middle income Cambodian households who do not have access to formal commercial lending.

FDL

Private Equity Round in 2013
FDL is a Nicaraguan nonprofit microfinance institution (MFI) that is committed to integrated service provision in rural areas where access to essential services is often limited. The organization began its activities in 1992 as part of the NITLAPAN* research institute and became its own independent entity in 1997. While the organization’s principal mission is to provide financial services to micro, small and medium entrepreneurs, it has continued to work closely with NITLAPAN to design innovative, non-financial products and services that meet the multifaceted needs of small producers.

Bronkhorstspruit Biogas Plant

Private Equity Round in 2011
Bio2Watt is the production of methane and carbon dioxide is a natural consequence of the degradation of organic waste. In this plant, the process is accelerated and the methane is captured and used to generate electricity using gas engines. The technology is established and commercially proven with many biogas plants operating in Asia, Europe and the Americas.The generation capacity of the biogas plant is 4.2 MW, providing an estimated 35 GWh of energy per year.

Financiera Desyfin

Private Equity Round in 2011
Financiera Desyfin, S.A. is a financial services company based in Sabanilla, Costa Rica, established in 1991. It specializes in providing comprehensive financing solutions primarily to small and medium-sized enterprises, as well as to projects and contracts associated with the central government, autonomous institutions, and AAA-rated companies. The company's offerings include guarantees, purchase order financing, working capital support, and factoring services. Additionally, Financiera Desyfin facilitates international transactions through services such as wire transfers, foreign currency exchange, and letters of credit. The company also provides leasing options, investment and savings accounts, credit and debit cards, loans, and various insurance products, focusing on quality customer relationship management to enhance its clients' growth opportunities.

Basecamp Explorer Kenya

Venture Round in 2010
Basecamp Explorer AS is a tourism company based in Oslo, Norway, that specializes in offering tour services focused on natural environments. Founded in 1998, the company operates various hotels, trips, and expeditions in several global destinations, including Svalbard in Norway, Masai Mara and Lamu in Kenya, Solovki in Russia, Rajasthan and Dharamsala in India, and the Pyrenees in France. Basecamp Explorer emphasizes responsible and sustainable travel experiences, catering to nature enthusiasts and adventure seekers. The company has established subsidiaries in Norway, Sweden, Kenya, India, and Russia, reflecting its commitment to connecting travelers with unique and pristine landscapes worldwide.

Family Bank

Private Equity Round in 2010
Family Bank is a commercial bank established in Kenya in May 2007 and regulated by the Central Bank of Kenya. With a customer base exceeding 1.7 million, the bank operates a network of 93 branches across the country. It specializes in providing financial services to underserved segments of the market, including small-scale farmers, salaried employees, micro, small, and medium-sized enterprises, as well as youth and women. Additionally, Family Bank seeks to attract large corporate clients to bolster its deposit base. Notably, it was the first bank in Kenya to implement paperless banking through smart card technology, showcasing its commitment to innovation in the financial sector.

Agrica

Private Equity Round in 2010
Agrica Limited, established in September 2005, focuses on developing sustainable agribusinesses in East Africa to address pressing food security challenges. The company aims to enhance local food production and reduce reliance on imports by creating a portfolio of model commercial farms that incorporate innovative smallholder schemes. These initiatives are designed to foster thriving local communities and contribute to national food security. Agrica employs advanced agricultural techniques to produce high-quality grains and vegetable oil, ultimately supporting the growth of internal markets and promoting sustainable agricultural practices in the region.

Real People Home Finance

Private Equity Round in 2010
Real People is a financial institution that offers credit to small enterprises and individuals who otherwise have limited access to financial services in South Africa and other countries in the region. Real People is one of South Africa’s largest non-banking independent financial services provider that has been operating in Southern Africa for more than 15 years. Real People is a consumer finance and mortgage financing institution that targets customers from previously disadvantaged communities, with low to moderate household earnings who would traditionally not qualify for credit from the banking institutions in South Africa.

Serena Hotels

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

BRAC Bank

Private Equity Round in 2010
BRAC Bank Limited is a prominent banking institution in Bangladesh that offers a wide range of commercial banking products and services. The bank caters to various customer segments, including retail, wholesale, small and medium enterprises (SMEs), and expatriates. It provides an array of deposit products, such as current accounts, savings accounts, fixed deposits, and SME deposits. Additionally, BRAC Bank has a diverse loan portfolio that includes personal loans, auto loans, home loans, and secured loans or overdrafts. The bank also engages in non-banking services, offering guarantees and term loans, as well as brokerage services for local institutions, retail clients, and non-resident Bangladeshis. Its operations are structured into several segments, including retail, corporate, and treasury, enabling it to effectively serve its diverse clientele.

Green Resources

Private Equity Round in 2009
Green Resources AS is a Norwegian company specializing in afforestation and wood processing in East Africa. Established in 1995, it operates plantations spanning over 40,000 hectares across Mozambique, Tanzania, and Uganda, producing timber for various markets including the Middle East and global hardwood sectors. The company manufactures sawn timber, electricity poles, charcoal, and other wood products, utilizing waste wood for power generation. It also engages in carbon offset projects, developing emission reduction initiatives and trading high-quality CERs and VERs. Green Resources' operations include East Africa's largest sawmill in Tanzania, along with charcoal plants and pole treatment facilities across the three countries it operates in.

Nordic Microfinance Initiative

Private Equity Round in 2008
Nordic Microfinance Initiative, established in 2008 and based in Oslo, Norway, is a government organization focused on empowering impoverished individuals and women while fostering job creation and wealth in developing countries. The initiative specializes in investments in microfinance institutions through various financial instruments, including debt, sub-debt, and equity. It primarily targets companies in emerging and early-stage markets across Sub-Saharan Africa, South and Southeast Asia, as well as parts of Latin America. The organization typically invests between $1 million and $8 million, seeking to acquire minority stakes ranging from 10% to 30% in its portfolio companies. By concentrating on these regions, Nordic Microfinance Initiative aims to enhance economic opportunities and improve living standards for underserved populations.
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