The commitment comes as the fund reaches its first close while targeting a total capital raise of about $200 million.

ATAF is managed by African Infrastructure Investment Managers (AIIM), an experienced infrastructure investor that focuses on projects across the continent.

The fund aims to mobilize private capital to accelerate Africa’s energy transition by supporting companies and platforms developing low-carbon infrastructure solutions.

Through the fund, AIIM plans to deploy equity or quasi-equity investments in roughly 14 infrastructure development platforms and companies.

Individual investments are expected to range between $10 million and $30 million.

The strategy is designed to help developers build project pipelines and bring climate-related infrastructure closer to financial viability and large-scale implementation.

ATAF’s investment focus aligns with sectors considered essential for Africa’s transition to a low-carbon economy.

These include renewable electricity generation, sustainable transport systems, and emerging clean-energy technologies.

“In Africa, one of the main obstacles to the energy transition remains the lack of capital available to develop projects at an early stage. By supporting ATAF from its first close, Proparco is helping to establish an instrument capable of addressing this gap and accelerating bankable climate infrastructure across the continent,” said Tibor Asboth, head of private equity for Africa and the Middle East at Proparco.

The investment reflects growing interest among development finance institutions in expanding climate-focused infrastructure across Africa.

Analysts note that many renewable energy and low-carbon transport projects stall during early development phases because investors tend to prioritize mature businesses with established revenue streams.

With Proparco among its early investors, the fund is expected to play a catalytic role in advancing climate infrastructure projects across multiple African markets while supporting the continent’s broader push toward cleaner and more sustainable energy systems.