Acumen, the global impact investment firm known for backing social enterprises, has officially launched its second KawiSafi fund, aimed at scaling climate-focused innovations across Africa. The new fund, KawiSafi Fund II, has secured $90 million in approved capital, marking a significant step forward in mobilizing private investment for climate resilience and low-carbon development on the continent.
This successor fund builds on the success of the original KawiSafi Ventures, a $67 million clean energy fund launched in 2016, which focused on expanding access to off-grid solar energy in East Africa.
KawiSafi Fund II will deploy catalytic equity investments into companies that are not only financially viable but also committed to delivering measurable climate impact. The fund’s strategy is designed to support scalable business models that address Africa’s most pressing climate challenges, ranging from renewable energy and sustainable agriculture to climate-smart infrastructure and circular economy solutions.
Amar Inamdar, Managing Director of the KawiSafi funds, emphasized the importance of this milestone:
Securing $90 million for a successor KawiSafi fund is a major milestone and a signal to the market: capital can and must flow toward a more inclusive, low-carbon future. We are backing the entrepreneurs who are building scalable business models that turn climate challenges into growth opportunities across Africa.
The fund has attracted support from a strong coalition of anchor investors, including:
- African Development Bank’s Sustainable Energy Fund for Africa (SEFA)
- Green Climate Fund, providing first-loss capital to de-risk investments
- Schmidt Family Foundation
- Quadrature Climate Foundation
These partners bring not only financial backing but also strategic alignment with the fund’s mission to catalyze climate innovation and inclusive growth across African markets.
