Catalytic backing from the various impact investors has enabled the Helios Climate, Energy Access, and Resilience (CLEAR) Fund to raise approximately $200 million in its first close for investment in African businesses focused on climate mitigation and adaptation. The Fund, managed by Helios Investment Partners, intends to become the largest Africa-focused climate fund with a target size of $400 million.
Following initial catalytic backing by PIDG company InfraCo Africa and the UK’s FCDO, through the MOBILIST programme, a further six leading climate investors committed to anchor CLEAR’s first close. Among them are:
Helios, which is the largest Africa-focused private investment firm, will begin investing the capital with immediate effect. The Fund’s ambition is to support and scale African climate champions. It will focus on five key areas:
Research commissioned by MOBILIST shows that sub-Saharan Africa’s renewable energy market already represents a potential investment opportunity of $193 billion by 2031. Despite the scale of the opportunity, the International Renewable Energy Agency estimates that Africa currently attracts only 3% of global energy investment.
Peter Maila, FMO’s Co-Chief Investment Officer, said, “We are pleased to invest in the highly impactful CLEAR Fund and support this unique Pan-African fund that’s targeting both climate mitigation and adaptation. With a true climate-first approach, the CLEAR Fund aligns strongly with our Climate Action Plan and our commitment to a net-zero portfolio by 2050. We look forward to jointly contributing to stronger climate resilience and improved ESG standards across the African continent as we support job creation and inclusive economic development.”
Gilles Vaes, Chief Executive Officer at InfraCo Africa (PIDG), said: “Today’s announcement marks a key milestone for CLEAR – a Fund conceived by PIDG company InfraCo Africa, through its investment arm InfraCo Africa Investment Ltd, and Helios Investment Partners, with support from ThirdWay Partners and FCDO’s MOBILIST. It is also a watershed moment for African growth businesses – and the associated infrastructure – seeking to address the climate crisis. CLEAR will unlock much-needed access to finance and exit routes for climate entrepreneurs whilst giving investors comfort that their investments will generate the growth they expect and support global efforts to address climate change, in line with the PIDG strategy, which was launched in 2023.
Christopher Chijiutomi, Managing Director and Head of Africa at BII, said: “We are delighted to once again partner with Helios Investment Partners to support the growth of African companies. As the UK’s development finance institution, this investment also reinforces BII’s commitment to supporting Africa’s green transition. Mobilising much-needed private capital into green sectors through this Fund will help to drive innovation and create new opportunities, contributing to a resilient and prosperous future for Africa.”
Ross Ferguson, who leads the MOBILIST programme at the FCDO said: “Africa must overcome a significant climate financing gap to realise its climate transition and MOBILIST will act wherever there are opportunities to unlocking climate and development finance, including through faster reform of the global financial system. As such, FCDO, through MOBILIST, is proud to partner with Helios Investment Partners, one of Africa’s foremost private equity managers with deep expertise in creating secondary market liquidity for investors in Africa, including through Helios Towers and Vivo Energy. Joining MOBILIST and InfraCo Africa Investment Ltd, a powerful consortium of development finance practitioners is now anchoring this landmark fund to mobilise commercial capital toward addressing Africa’s climate mitigation and adaptation needs.
