Persistent, Africa’s Climate Venture Builder that believes in the power of climate positive economic development in Africa and is one of the leading experts and pioneer investors in the renewable sector on the continent, recently
led by Kyuden International and FSD Africa to grow climate venture building in Africa. Persistent has raised the $10M in equity in its Series C round. The raise will enable Persistent to continue to grow its successful climate venture building business in Africa.
This successful fundraise was also achieved thanks to the catalytic patient capital provided by Financial Sector Deepening Africa Investments Ltd. , the investment arm of the UK FCDO specialist development agency FSD Africa. FSDAi’s mission is to build and strengthen financial markets across sub-Saharan Africa.
Persistent now has 20 partner companies in 17 countries across Sub-Saharan Africa, supported by a team of 23 professionals. The capital raised in this Series C, the third on-balance sheet equity raise in the company’s history, will enable Persistent to strengthen the team across the continent and scale its climate venture building activities in Africa, potentially improving 2 million people’s lives, creating 6,000 jobs and avoiding 700,000 tCO2e.
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