KawiSafi Fund II
Snapshot
Fund Type: VC
Fund Size: $140 million
Investment Stage: Late venture and early growth equity
Geographic Focus: Sub-Saharan Africa
Sector Focus: Energy transition, green productivity, mobility & logistics, and carbon & natural solutions
Fund Overview
KawiSafi Fund II is a fund specialised in the green energy transition and decarbonization strategies in Sub-Saharan Africa with the aim of positively impacting the livelihoods of 50M people and offsetting 50M tonnes of CO2e. The fund, managed by a diverse, experienced and locally-based team with an existing track record, is making late venture and early growth equity investments across four key themes: energy transition, green productivity, mobility and logistics, and carbon and natural solutions, which they view as key to unlocking low-carbon growth for a climate resilient future in Africa. Investments will be made in 11 key countries in Africa that blend KawiSafi’s expertise and pipeline with country needs and climate priorities.
Why We Invested
KawiSafi Fund II has a fully integrated climate and gender lens. The fund targets at least 30% of its pipeline for women-owned businesses, and invests in mitigation, adaptation and resilience strategies in Africa to foster green growth and decarbonization. Aligned with the Green Climate Fund framework and national climate plans under the Paris Agreement, each investment must demonstrate a clear climate impact. Backed by female-founded Acumen, the fund promotes diversity through a DEI policy and tailored Gender Action Plan (GAP). It also partners with 60 Decibels for gender assessments and impact evaluation. They creatively use technical assistance to develop the pipeline of women-owned climate businesses and partner with technical institutes to train women in green jobs.
Women as Agents of Change
KawiSafi has embedded a clear awareness and understanding of the unique barriers and vulnerabilities women face in the fund’s core markets and climate investment sectors as well as the opportunities and positive impact potential which can be unlocked by using a dual climate & gender lens. An example of this is Angaza, founded in 2010 by Lesley Silverton Marincola to combat energy poverty. Angaza shifted from selling solar lights to providing pay-as-you-go software for solar manufacturers. The company champions gender diversity with 57% female board representation, a 44% female workforce, and efforts to increase female ownership and supply chain diversity. Since KawiSafi's investment, Angaza has helped avert 1.52 million tons of carbon and impacted 7.6 million lives. Its founder serves as a role model for women in a male dominated tech industry, fostering a gender-positive culture and inspiring future female founders.
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