With backing from the Green Climate Fund, the African Development Bank's Sustainable Energy Fund for Africa, the Schmidt Family Foundation, and Quadrature Climate Foundation, Acumen's second KawiSafi fund marks the next chapter for the climate-resilient growth platform developed by Acumen.
NAIROBI, Kenya , Sept. 8, 2025 Acumen, the global impact investor building markets to solve poverty, has launched its second KawiSafi fund, focused on accelerating climate solutions in Africa. The fund has $90 million in approved capital, including $40 million in committed capital, for its for-profit investment strategy. The fund builds markets with fast-growing companies that will help unlock Africa's potential for a low-carbon, climate-resilient, and inclusive economy. KawiSafi's pipeline focuses on meeting everyday needs and creating decent work through energy transition, clean transportation, and nature-based carbon solutions across Africa. Its goal is to impact 50 million people and avert 50 million tons of CO2 at scale.
Following the successful deployment of the predecessor KawiSafi fund, a $67 million clean energy fund launched in 2016, the strategy for the second KawiSafi fund ("Fund II") is to provide catalytic equity financing to businesses that build low-carbon pathways to economic resilience in underserved communities. As climate resilience becomes increasingly critical for economic stability, Fund II is channelling capital toward businesses that combine capital appreciation with measurable climate impact.
Climate change disproportionately affects Africa. The continent is home to the majority of the world's poorest people and receives only 6 percent of global investment flows, while climate shocks, including droughts, floods, and rising seas, could push an additional 100 million people into poverty worldwide.
Fund II supports business models addressing these structural risks. The fund targets use cases such as distributed renewable energy, resilient mobility, clean cooking, and access to carbon finance. It builds on lessons from its predecessor while expanding into new sectors and technologies.
This milestone comes at a pivotal moment in Africa's energy transition. Expanding access will require investment beyond traditional grids and infrastructure to reach communities historically excluded from energy systems. Fund II is responding by deploying capital to African-based entrepreneurs who are building the foundation of a low-carbon future.
"Securing $90 million for a successor KawiSafi fund is a major milestone and a signal to the market: capital can and must flow toward a more inclusive, low-carbon future," said Amar Inamdar, Managing Director of the KawiSafi funds. "We are backing the entrepreneurs who are building scalable business models that turn climate challenges into growth opportunities across Africa."
Anchor investors include the African Development Bank's Sustainable Energy Fund for Africa (SEFA), first-loss capital from the Green Climate Fund, the Schmidt Family Foundation, and funding from Quadrature Climate Foundation.
"The KawiSafi fund comes to market at a critical time, offering much-needed venture and growth capital to emerging businesses advancing energy access and the energy transition," said João Duarte Cunha, Head of Division of the African Development Bank, which oversees SEFA. "Our support for this fund reflects the Bank's broader commitment to scaling innovative low-carbon solutions and mobilizing private capital to accelerate Africa's clean energy future."
The fund's blended finance structure is designed to de-risk investment and attract commercial capital. Each dollar of concessional funding helps unlock greater participation from private and institutional investors by absorbing early-stage risk. With a robust pipeline in place, the fund is well-positioned to deploy capital to enterprises that are poised to drive systemic change in Africa's climate and energy landscape.
"The KawiSafi funds show that distributed clean energy solutions can drive Africa's energy transition and economic transformation," said Jacqueline Novogratz, Founder and CEO of Acumen. "This milestone brings together years of learning, a coalition of committed partners, and the local insight needed to scale climate solutions where they are needed most."
About KawiSafi
KawiSafi is Acumen's for-profit investment platform focused on accelerating Africa's energy transition. It designs and manages climate finance strategies that mobilize catalytic capital to support inclusive, low-carbon growth. Fund II builds on nearly a decade of experience investing in companies that expand access to clean energy and drive economic resilience.
About Acumen
Acumen is a global force of entrepreneurs, investors, philanthropists, and social innovators working together to build a world based on dignity. We were founded by Jacqueline Novogratz on the radical idea that business, when cultivated with moral imagination, can break the cycle of poverty. We invest in transformational companies, build sustainable markets, and prepare leaders with the tools they need to create a more just and inclusive future. Since 2001, we have scaled companies and shaped markets in some of the hardest-to-reach communities on the planet, impacting over half a billion lives. To learn more, visit acumen.org.