FiveT Capital Holding launches world’s first clean hydrogen investment fund

 AFRICA – FiveT Capital Holding, an independent asset manager, has launched a private infrastructure fund, FiveT Hydrogen Fund, dedicated to delivering clean hydrogen infrastructure projects at scale. The Euro-denominated Fund intends to raise a total of US$1,189 billion (€1 billion) from a combination of financial and industrial investors. It will make largely minority co-investments into greenfield projects with key industrial players. The Fund has already received combined commitments intentions of US$218,7 million (€260 million) from Plug Power, Chart Industries Inc and Baker Hughes. In addition, Francisco Fernandez, founder and former…

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Fidelity Bank Ghana launches young entrepreneurs fund to support existing businesses

GHANA – Fidelity Bank Ghana has launched the Fidelity Young Entrepreneurs Fund (FYEF) to support existing businesses and startups of young entrepreneurs with financial and non-financial resources to harness social impact potential, build capacity and guide youth-related businesses to grow and scale up their businesses. The Fidelity Young Entrepreneurs Fund is a project which will provide both financial and non-financial support to enable youth-related businesses to survive and thrive. The focus of the fund is on businesses that are solving a problem in society, employing climate smart adaptation or mitigation…

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Nuwa capital raises US$75m first close for its debut fund, a year after launch

MENA – Dubai and Riyadh-based Nuwa Capital has announced the first close of US$75 million for its debut fund (Nuwa Ventures Fund I – NVFI), after a year of its launch, making it one of the largest venture capital (VC) funds in the region. Nuwa will invest in startups in the Middle East, North Africa, Turkey, Pakistan, and Sub-Saharan Africa while is aiming for a final close of US$100 million within this year. The firm was founded in early 2020 by Khaled Talhouni, Sarah Abu Risheh, and Stephanie Nour Prince,…

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Female-focused angel fund FirstCheck Africa launches its US$25k investment plan

NIGERIA – FirstCheck Africa, a Female-focused angel fund and investor community, has launched operations and plans to invest up to US$25,000 in women who have ideas for technology startups. Launched by Endeavor Nigeria managing director Eloho Omame and PiggyVest co-founder Odunayo Eweniyi, FirstCheck launches with a mission to advance equity, capital and leadership for a generation of women in Africa through technology and entrepreneurship. The fund is also working on developing the middle tier of female angel investors, by building a community of millennials and mid-career women that want to…

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Attijari Bank secures funding from EBRD to strengthen access to finance for MSMEs

TUNISIA – The European Bank for Reconstruction and Development (EBRD) has announced in a press release its plan to strengthen access to finance for Tunisian micro, small and medium-sized enterprises (MSMEs). The Bank is providing Attijari Bank of Tunisia with an unfunded risk-sharing guarantee of 50 per cent on a loan to Enda Tamweel, the leading microfinance institution in the country. Under the EBRD’s Risk Sharing Framework (RSF), Attijari Bank of Tunisia is extending a loan of up to TND20 million (US$7.33m) to Enda Tamweel for on-lending to local MSMEs…

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Fintech startup Cowrywise raises US$3m pre-Series A funding to expand its product offering

NIGERIA – Cowrywise, a digital wealth management and financial planning solution startup, has raised US$3 million in pre-Series A funding to expand its product offering, support the onboarding of more fund managers, and build out its investment management infrastructure. Launched in 2017 by Razaq Ahmed and Edward Popoola, Cowrywise offers easily accessible, goal-oriented savings and investment products with more competitive performance rates than traditional alternatives. The startup currently has 19 different mutual funds available through its platform, which allows users to get started saving and investing with as little as…

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Scheduling startup Calendly raises US$350m funding to continue product development

NIGERIA – Cloud scheduling startup, Calendly LLC announced it has raised US$350 million in new funding to provide liquidity for early shareholders and employees and continue product development. This funding round was led by OpenView Venture Partners, a Boston-based expansion-stage firm and existing investor, with participation from San Fransisco-based Iconiq Capital and has now valued the company at more than US$3 billion. Founded in 2013 by Tope Awotona, Calendly simplifies the way meetings are scheduled by creating simple rules such as availability preferences, share links, or embed calendars and allows…

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Malawi launches US$1.1m clean cooking fund

MALAWI – The government of Malawi and its development partners have launched a US$1.1million clean cooking fund to promote fuel efficient cooking technologies and alternative cooking energy in the country. The country’s Minister for Forestry and Natural Resources. Nancy Tembo said in Lilongwe during the launch that the funds will provide financing to the innovative entrepreneurs that have creativity and business vision to transform cooking and change history. “This focus is in full alignment with government’s development agenda and I believe that we have the creativity and entrepreneurs that will…

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CrossBoundary Energy exits its first fund, raises US$40M to scale financed solar for businesses

AFRICA – CrossBoundary Energy (CBE), a direct investment arm of CrossBoundary that finances solar projects in Africa, has exited of its first fund at a 15% net Internal Rate of Return (IRR) to investors. In addition, ARCH Emerging Markets Partners’ Africa Renewable Power Fund (ARCH ARPF) has provided US$40m in new equity funding to exit initial investors and support CrossBoundary Energy to continue to develop, construct and operate distributed commercial & industrial (C&I) solar projects that will provide businesses across Africa with access to cheaper, cleaner power. This exit and…

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