Persistent has launched the $70 million Persistent Africa Climate Venture Fund (Persistent ACV Fund), an early-stage investment vehicle dedicated to accelerating climate-focused innovation across Africa.
The fund achieved a strong first close of $52 million on March 9, 2026, including a dedicated $5 million Venture Building Facility (VBF) to provide operational support to portfolio companies beyond capital deployment.
Domiciled in Mauritius, the Persistent ACV Fund will invest from pre-seed through Series A stages, with flexibility for follow-on capital.
Persistent ACV serves as the general partner, while Persistent Energy Capital, a US-based climate venture firm, acts as the fund advisor.
The fund collaborates closely with Persistent’s Venture Building platform to assist founders in scaling effectively.
Investment Focus and Strategy
The Persistent ACV Fund targets transformative early-stage ventures addressing climate challenges in Africa.
Priority sectors include clean energy, sustainable agriculture, circular economy solutions, climate adaptation technologies, and resource-efficient innovations.
The fund employs a venture builder approach, combining capital with hands-on operational support through the $5 million VBF.
This facility finances Persistent’s Venture Building services, such as strategic governance, technical expertise, legal structuring, finance, and market access, to help portfolio companies overcome early-stage execution barriers.
The blended capital structure provides private investors with first-loss and priority return protection, de-risking participation while attracting catalytic capital from development institutions.
READ ALSO:
Why Venture Capital Is Central to Climate Tech Growth
Anchor and Supporting Investors
The first close reflects strong institutional backing from leading development and impact-oriented entities:
- Nordic Development Fund (NDF): USD 12.5 million (USD 10 million equity + USD 2.5 million grant to the VBF).
- African Development Bank’s Sustainable Energy Fund for Africa (AfDB SEFA): Anchor commitment.
- FSD Africa Investments (FSDAi): Anchor investor.
- Japan International Cooperation Agency (JICA): Participation.
- Soros Economic Development Fund (SEDF): USD 7 million commitment.
- Impact Fund Denmark (IFDK): Participation.
- The Schmidt Family Foundation and The Cottier Donzé Foundation: Additional commitments.
This diverse investor base underscores confidence in Persistent’s track record and the fund’s potential to deliver substantial climate, socio-economic, and gender impact across the continent.
Role of Venture Building in Scaling Impact
A distinguishing feature of the Persistent ACV Fund is its integrated venture-building model. Beyond providing capital, the fund offers portfolio companies comprehensive support to accelerate growth and improve outcomes.
This includes:
- Access to Persistent’s expertise in finance, governance, technical development, legal structuring, and market entry.
- Assistance in building robust teams and operational systems.
- Strategic guidance to navigate regulatory and market challenges unique to African climate ventures.
By combining financing with operational capacity-building, the fund aims to increase the likelihood of success for early-stage companies tackling climate resilience, clean energy adoption, and sustainable development.
Broader Context and Ambition
Africa faces acute climate vulnerabilities, yet also holds immense potential for climate-positive innovation. The Persistent ACV Fund positions itself as a key enabler, supporting entrepreneurs who develop commercially viable solutions to these challenges.
The fund aligns with global climate finance objectives and contributes to Africa’s transition toward low-carbon, inclusive growth.
Its launch reflects growing institutional interest in early-stage climate tech on the continent, where scalable solutions can deliver outsized environmental and socio-economic returns.
Looking Ahead
The Persistent Africa Climate Venture Fund, with its $52 million first close and $70 million target, represents a landmark commitment to early-stage climate innovation in Africa.
By pairing capital with dedicated venture-building support, the fund backed by prominent development institutions aims to catalyse transformative startups addressing urgent climate needs while generating sustainable returns.
Persistent Capital
Persistent Energy Capital LLC focuses on financing distributed renewable energy companies in emerging markets, particularly across Africa and South Asia.
Persistent Energy broadly refers to the firm’s strategy of investing in scalable clean energy solutions such as solar power, mini-grids, and energy access businesses.
Persistent Capital relates to the investment management arm responsible for deploying capital into climate and energy ventures.
The Climate Catalyst Fund supports early-stage climate technology and clean energy companies working to accelerate the transition to low-carbon energy systems.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
