Knife Capital receives US$10m commitment to African Series B expansion fund

SOUTH AFRICA – Venture capital firm Knife Capital has received a US$10 million commitment from the Mineworkers Investment Company (MIC) to its new African Series B expansion fund, Knife Fund III.  Knife Capital is a venture capital and growth equity investment manager focusing on innovation-driven ventures. The firm will use its latest fund to invest behind the aggressive expansion of African innovation-driven companies and fill a critical follow-on funding gap.  The Mineworkers Investment Company (MIC) is a 100 per cent Black-owned Investment Company established in 1995 by the Mineworkers Investment…

Read More

Solar company Daystar Power secures US$38m Series B investment led by IFU to grow its operation

NIGERIA – Daystar Power, a provider of hybrid solar power solutions to businesses in West Africa, has announced a Series B investment of US$38 million led by the Investment Fund for Developing Countries (IFU), the Danish development finance institution (DFI). With the fundraise, Daystar Power will grow its operations in its key markets of Nigeria and Ghana, while deepening its presence in other regional countries such as Côte d’Ivoire, Senegal and Togo. Daystar Power is on track to expand its installed capacity to over 100 megawatts, meeting demand from its…

Read More

Solar distributor Oulu closes US$8.5m Series B investment round led by RP Global

WEST AFRICA – Oolu, a leading solar distributor in West Africa, has closed a US$8.5 million Series B investment round led by independent renewable energy developer RP Global and other participating investors including Persistent Energy Capital, Shell-seeded impact investor All On, Gaia Impact Fund, and DPI Energy Ventures. Founded in 2015 by Nilmi Senaratna and Daniel Rosa, Oolu’s mission is to provide affordable energy access to rural and peri-urban customers in West Africa. Since its inception, the company has sold over 60,000 solar home systems to customers in the region.…

Read More