Venture backed company SparkMeter closes US$12m Series A financing

AFRICA – SparkMeter, a venture provider of grid management services, equipment, and software solutions that increase access to electricity in underserved communities across Africa, Asia and the Americas, closed a US$12m Series A financing. The round was led by Clean Energy Ventures and Breakthrough Energy Ventures, alongside Goodwell Investments, in partnership with Alitheia Capital, Total Energy Ventures, and other notable investors. The funding will allow the company to launch its new Digital Solutions offering, connecting smart grid data insights to business operations for large electricity distribution utilities in emerging markets.…

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Open Society Foundation invests US$10m in women focused fund

AFRICA – Alitheia IDF, a private equity fund, has landed US$10 million from Open Society Foundation, that is owned by American billionaire George Soros.  Alitheia IDF is a joint venture fund between Alitheia Capital, a private equity investment in Nigeria, and IDF Capital in South Africa. It invests in companies that operate in Southern and West Africa that are either women-owned or that focus on supporting women.  Open Society Foundations said in announcement that its Open Society Economic Justice Programme, has committed US$15-million to two women-led investment funds that advance economic and gender…

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