Helios and Gaia raise millions for Africa-focused climate funds 

Helios Investment Partners LLP and Gaia Fund Managers are raising hundreds of millions of dollars for Africa-focused climate funds to capitalize on opportunities in renewable energy and drought-resistant agriculture on the continent. 

Helios, the largest Africa-focused private investment firm, has secured approximately $200 million from eight state-linked institutions as an initial step towards creating the largest Africa-focused climate fund, according to Bloomberg.  

Meanwhile, South Africa’s Gaia Fund Managers announced it has secured $50 million in commitments for its Luxembourg-based Gaia Africa Climate Fund, which has a target of $200 million. 

Investors are increasingly focusing on Africa, where the absence of power infrastructure has left 600 million people without access to electricity.  

This gap presents an opportunity for large-scale investment in renewable energy plants without the expense of decommissioning fossil fuel-fired facilities. 

Additionally, the growing severity of droughts has heightened the demand for irrigation and water-saving technologies, which are crucial for the agriculture sector that most Africans depend on. 

Read more: Energy investments key to propel Africa’s prosperity, IEA reports 

Helios’ Climate, Energy Access and Resilience Fund, known as Clear, has a target size of $400 million, which would make it the biggest Africa-focused climate fund. 

Clear will invest in African companies focused on green energy, transport, agriculture, recycling, and resource efficiency.