Novogratz’s Acumen to fund fast-growing renewable energy firms.

The fund seeks to provide cheap power and competitive returns.

Jacqueline Novogratz’s impact investing group closed an almost $70 million fund to back companies delivering affordable and renewable energy to mostly poor consumers in East Africa.

KawiSafi Ventures seeks to bring clean energy to 10 million people with investments in fast-growing companies while also making competitive returns, according to a statement Tuesday from Acumen, a New York-based nonprofit founded by Novogratz. Early investors in the fund include TED curator Chris Anderson, the Skoll Foundation, venture capitalist Steve Jurvetson and the Green Climate Fund.