Acumen has launched its second KawiSafi fund, securing $90 million in approved capital, including $40 million in committed capital, to accelerate climate solutions across Africa. Supported by the African Development Bank, the Green Climate Fund, the Schmidt Family Foundation, and the Quadrature Climate Foundation, the fund targets fast-growing businesses that promote a low-carbon, climate-resilient, and inclusive economy. KawiSafi Fund II focuses on energy transition, clean transportation, and nature-based carbon solutions, aiming to impact 50 million people and avert 50 million tons of CO2 emissions at scale.
Building on the success of its predecessor, a $67 million clean energy fund launched in 2016, Fund II provides catalytic equity financing to businesses that foster economic resilience in underserved communities while delivering measurable climate impact. At a time when climate shocks—such as droughts, floods, and rising seas—threaten to push millions into poverty, the fund supports business models addressing structural climate risks in Africa.
The fund prioritizes initiatives in distributed renewable energy, resilient mobility, clean cooking, and carbon finance access. By investing in Africa-based entrepreneurs, KawiSafi Fund II aims to expand energy access beyond traditional infrastructure and grids, reaching communities historically excluded from energy systems. The initiative leverages lessons learned from the first fund while exploring new sectors and technologies to strengthen Africa’s energy transition.
The fund’s blended finance structure is designed to de-risk early-stage investments and attract commercial capital, using concessional funding to unlock greater participation from private and institutional investors. Anchor investors include the African Development Bank’s Sustainable Energy Fund for Africa (SEFA), the Green Climate Fund, Schmidt Family Foundation, and Quadrature Climate Foundation. This approach positions the fund to deploy capital to enterprises capable of driving systemic change in Africa’s climate and energy landscape.
According to Acumen’s leadership, the launch of Fund II marks a major milestone for the continent, signaling that capital can and must flow toward scalable, inclusive, low-carbon solutions. The fund unites committed partners, local insight, and years of learning to empower entrepreneurs who turn climate challenges into growth opportunities, helping advance Africa’s clean energy future and broader economic transformation.
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