Shell Foundation

Established in 2000, Shell Foundation is an independent charity based in London, UK. It applies business thinking to address global social and environmental challenges linked to the energy sector. The foundation creates and scales new solutions, leveraging resources from Shell where possible, to deliver significant and lasting outcomes.

Jonathan Berman

CEO and Member of the Investment Committee

26 past transactions

Kofa

Grant in 2025
Kofa is an automotive company that utilizes the latest electric battery and motor technology. The company aims to develop an affordable, sustainable and customer driven electric network in transformative energy, transport, and climate change around the globe. Kofa was founded in Ghana and is headquartered in Accra.

Kofa

Debt Financing in 2025
Kofa is an automotive company that utilizes the latest electric battery and motor technology. The company aims to develop an affordable, sustainable and customer driven electric network in transformative energy, transport, and climate change around the globe. Kofa was founded in Ghana and is headquartered in Accra.

Sistema.bio

Debt Financing in 2024
Sistema.bio manufactures prefabricated modular biodigester systems for farmers. These systems convert organic waste like animal manure into methane gas for thermal energy in cooking and mechanical energy in farming, as well as organic fertilizer.

Kofa

Grant in 2024
Kofa is an automotive company that utilizes the latest electric battery and motor technology. The company aims to develop an affordable, sustainable and customer driven electric network in transformative energy, transport, and climate change around the globe. Kofa was founded in Ghana and is headquartered in Accra.

Mufin Green Finance

Grant in 2023
Mufin Green Finance is an Indian non-banking finance company that focuses on providing financial services primarily in the electric vehicle (EV) sector. The company specializes in offering various loan products, including used-car loans, personal loans, unsecured working capital loans, property loans, two-wheeler loans, and educational loans. Mufin Green Finance derives its revenue mainly from interest income generated through these financing activities. By concentrating on the burgeoning EV market, the company aims to support the transition to sustainable transportation while catering to diverse customer financing needs.

Kofa

Seed Round in 2023
Kofa is an automotive company that utilizes the latest electric battery and motor technology. The company aims to develop an affordable, sustainable and customer driven electric network in transformative energy, transport, and climate change around the globe. Kofa was founded in Ghana and is headquartered in Accra.

Yellow

Series B in 2023
Yellow is a fintech company dedicated to delivering impactful products and services to rural households through a widespread sales network. The company specializes in the last mile distribution of affordable pay-as-you-go solar home systems, targeting low-income communities. By leveraging innovative financing solutions, Yellow aims to enhance access to renewable energy, thereby improving the quality of life for its customers in underserved areas.

RevFin

Debt Financing in 2022
RevFin is a fintech company established in 2018, offering digital lending solutions. Its platform provides customers with revolving credit limits for convenient access to loans, along with a rewards program for on-time payments and other activities. As of now, RevFin has funded over 12,000 electric vehicles (EVs) with negligible non-performing assets (NPAs).

Nithio

Venture Round in 2022
Nithio Holdings is an energy finance company established in 2018 and headquartered in Washington, D.C. It specializes in providing data-driven financing solutions to small and medium-sized enterprises (SMEs) in the off-grid energy sector across sub-Saharan Africa. Nithio leverages a proprietary artificial intelligence risk analytics engine to support distributed energy service companies, capital providers, governments, and other stakeholders involved in the solar energy market. The company focuses on enhancing access to solar home systems, productive use appliances, agribusiness, and microfinance, thereby facilitating sustainable energy solutions in underserved regions.

d.light

Venture Round in 2021
d.light develops solar-powered lighting and power products, including lights, radios, televisions, fans, and other home appliances. Their rechargeable solar kits aim to improve health, increase productivity, and enhance the quality of life for users in rural and semi-urban areas by providing access to clean energy.

AgroCenta

Seed Round in 2021
Founded in 2015 by Francis Obirikorang and Michael K. Ocansey, AgroCenta aims to enhance Ghana's agricultural value chain by addressing challenges faced by smallholder farmers. The company operates an online sales platform that connects farmers directly to a wider market, empowering them to sell commodities at favorable prices. Additionally, AgroCenta's patented TrucKR solution facilitates efficient logistics and transportation, enabling farmers in remote areas to access trucks on demand.

Easy Matatu

Grant in 2021
Easy Matatu is a technology platform that connects commuters with safe, reliable, and clean transportation options. Through its mobile application, users can book rides and select pickup points nearest to them.

Ampersand

Grant in 2020
Ampersand is a company based in Kigali, Rwanda, that specializes in the manufacture of affordable electric vehicles and charging systems tailored for the three million motorcycle taxi drivers in East Africa. The company aims to enhance mass-market electric mobility by providing a battery swap network and an operating system that facilitates sustainable transport solutions. By making electric mobility accessible and affordable, Ampersand not only improves the livelihoods of drivers but also contributes to environmental sustainability. As of January 2024, the company's customer base has expanded to 2,000 users, who collectively cover 1.5 million kilometers weekly in Nairobi and Kigali.

Persistent

Series B in 2019
Persistent is a Nairobi-based venture capital firm focused on Africa, investing in climate, renewable energy, e-mobility, agricultural technology, and solar sectors. It supports entrepreneurs with deep operational and strategic guidance to help them scale sustainable businesses. The firm seeks attractive financial returns while creating social and environmental impact, including improving energy access for underserved markets in sub-Saharan Africa.

Easy Matatu

Grant in 2019
Easy Matatu is a technology platform that connects commuters with safe, reliable, and clean transportation options. Through its mobile application, users can book rides and select pickup points nearest to them.

MAX

Venture Round in 2019
MAX is a company that specializes in providing motorcycle taxi and transport services, focusing on the last-mile delivery and online retail challenges in Africa. By utilizing mobile and web platforms, MAX connects consumers, retail businesses, and independent drivers in real-time, effectively removing logistical and technological barriers that have hindered retail growth on the continent. Additionally, MAX offers electric and low-emission vehicle subscription services tailored for commercial drivers, promoting financial freedom and wealth creation through vehicle ownership. The company aims to ensure that independent drivers have access to safe, reliable, and sustainable mobility solutions, thereby enhancing the overall transport landscape in Africa.

Sistema.bio

Series C in 2019
Sistema.bio manufactures prefabricated modular biodigester systems for farmers. These systems convert organic waste like animal manure into methane gas for thermal energy in cooking and mechanical energy in farming, as well as organic fertilizer.

Catalyst enable.digital

Seed Round in 2019
Catalyst enable.digital AG, founded in 2017 and headquartered in Zurich, Switzerland, specializes in information technology advisory and implementation services. The company addresses the data and IT challenges faced by high-growth social impact ventures. It offers a range of services including IT setup, consulting, design, implementation, and ongoing support and maintenance. Catalyst enable.digital serves various sectors such as financial accounting, customer service, credit portfolio management, sales, distribution, inventory management, solar energy, and business intelligence. The firm also develops digital technology and data management systems that facilitate seamless operations through secure data storage solutions, helping clients manage their data effectively and cost-efficiently.

SureChill

Grant in 2019
SureChill develops innovative cooling technology that continuously maintains temperatures without relying on consistent power supply. Harnessing water's unique properties, it ensures optimal cooling for extended periods, making it ideal for preserving vaccines and other essential goods in regions with unreliable electricity.

Rent to Own

Seed Round in 2018
Rent to Own Ltd. is a company based in Lusaka, Zambia, that specializes in providing affordable financing and essential equipment to small-scale entrepreneurs in rural areas. Founded in 2010, the company focuses on empowering local business owners by offering high-impact assets such as refrigerators, hammer mills, and irrigation pumps, which are crucial for farming and food production. Rent to Own employs a tailored approach to its financing services, adapting to the unique needs of each client through a guided asset selection process, direct distribution, and individualized training for equipment maintenance and usage. Its innovative six-step loan process helps mitigate repayment risks while ensuring optimal utilization of the provided equipment, thereby facilitating business growth and enhancing the entrepreneurial landscape in rural Zambian communities.

Aavishkaar Capital

Venture Round in 2017
Founded in 2001 and headquartered in Mumbai, Aavishkaar Capital is a venture capital firm that concentrates on early-stage investments across Asia Pacific and Africa. It targets opportunities in finance, sustainable agriculture, and essential services, and it places emphasis on geographies and sectors that are often overlooked or challenging. The firm also incorporates environmental, social, and governance considerations into its investment approach.

d.light

Grant in 2017
d.light develops solar-powered lighting and power products, including lights, radios, televisions, fans, and other home appliances. Their rechargeable solar kits aim to improve health, increase productivity, and enhance the quality of life for users in rural and semi-urban areas by providing access to clean energy.

SureChill

Grant in 2017
SureChill develops innovative cooling technology that continuously maintains temperatures without relying on consistent power supply. Harnessing water's unique properties, it ensures optimal cooling for extended periods, making it ideal for preserving vaccines and other essential goods in regions with unreliable electricity.

Inficold

Pre Seed Round in 2016
Inficold is a company that provides uninterrupted, affordable cooling for refrigeration in the cold chain by integrating solar PV power and energy storage with existing or new cooling hardware. Its solutions include solar cold storage and solar milk chillers designed to deliver reliable cooling without reliance on conventional electrical batteries, enabling seamless fit with farmers' equipment and reducing total cost of ownership. The company focuses on economical, clean, and sustainable energy storage for cold-chain applications, aiming to disrupt traditional refrigeration by offering solar-powered, low-maintenance cooling that supports agricultural and industrial users.

d.light

Grant in 2016
d.light develops solar-powered lighting and power products, including lights, radios, televisions, fans, and other home appliances. Their rechargeable solar kits aim to improve health, increase productivity, and enhance the quality of life for users in rural and semi-urban areas by providing access to clean energy.

M-KOPA

Grant in 2014
M-KOPA offers connected asset financing solutions, combining digital micropayments and IoT connectivity. It provides access to essential products like solar lighting, televisions, fridges, smartphones, and financial services for underbanked customers without requiring credit history or assets.
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