Shell Foundation & FMO Launch New $120 M Energy Access Fund

Shell Foundation, a UK-registered charity, together with FMO, the Dutch entrepreneurial development bank, announces the launch of the $120 million Energy Entrepreneurs Growth Fund (EEGF), with an initial close of $45 million, providing catalytic financing to early to growth stage companies in Sub-Saharan Africa (SSA) operating in the access to energy ecosystem.

Triple Jump, an Amsterdam based leading impact-focused investment manager, will act as portfolio manager and Persistent, a Zurich based venture and private equity firm with expertise in the off-grid sector, will serve as investment advisor to the fund. Enclude, a Palladium company, advised on the structuring and execution of the fund.