The Persistent Africa Climate Venture Builder (ACV) Fund has been launched to address the pressing climate challenges facing Africa, a continent disproportionately affected by climate risks yet receiving only a small share of global climate financing. Early-stage climate ventures in Africa often struggle to access capital and the operational support necessary to scale their impact, limiting their ability to drive meaningful change in energy, agriculture, and resource transitions. The Persistent ACV Fund is designed to bridge this gap by investing in innovative and high-impact climate companies while providing bespoke Venture Building support to accelerate their growth. The Fund aims for a total size of USD 70 million and features a blended capital structure that offers first-loss protection and priority returns for private investors.
Established by Persistent in collaboration with FSD Africa Investments (FSDAi), the Fund combines equity investments with tailored Venture Building services to help early-stage climate ventures move from initial traction to scalable, impactful businesses. The Fund seeks to generate substantial climate, socio-economic, and gender impact across Africa, supporting the development of local solutions to energy, agricultural, and resource challenges.
The Nordic Development Fund (NDF) plays a catalytic role as an anchor investor, contributing USD 12.5 million to the Fund, including USD 10 million in equity and USD 2.5 million in grants to the Venture Building Facility. This facility finances Persistent’s support services for Fund portfolio companies. Other anchor investors include the African Development Bank’s Sustainable Energy Fund for Africa and FSDAi, with additional participation from the Japan International Cooperation Agency, the Soros Economic Development Fund, Impact Fund Denmark, The Schmidt Family Foundation, and The Cottier Donze Foundation.
Satu Santala, NDF Managing Director, highlighted that the Fund aligns with NDF’s mandate by supporting early-stage climate initiatives, promoting local innovation and ownership, and driving gender equality. The Persistent ACV Fund’s focus on decarbonisation, community resilience, and improved access to essential services for underserved communities demonstrates its potential to deliver both environmental and socio-economic impact across Africa.
