E3 Capital and Lion's Head Climate Fund secure $48M to empower climate-focused startups in Africa
E3 Capital (formerly Energy Access Ventures) and Lion’s Head Global Partners’ Climate Fund have hit the first close of their funding initiative at $48 million to back climate-focused startups in Africa.
The two firms have joined forces to bridge the funding gap and support promising startups addressing climate change challenges in Africa. The joint funding initiative will provide capital and mentorship, networking opportunities, and strategic guidance to the selected startups. This comprehensive approach aims to support entrepreneurs throughout their journey, from early-stage development to scaling their solutions, ensuring long-term impact and sustainable growth.
With the successful first close at $48 million, E3 Capital and Lion’s Head Climate Fund are poised to become key players in Africa’s climate innovation landscape, driving positive change and inspiring new entrepreneurs to tackle the continent’s pressing environmental challenges. The fund is being financed by several development finance institutions, including the @Netherlands Development Finance Company (FMO), Swedfund International, Proparco, the private sector financing arm of the French Development Agency (AFD) and Kreditanstalt für Wiederaufbau (KfW), the German development agency.