Persistent Energy raises $10 million to fund renewable venture building business in Africa

Persistent Energy, an investment firm focusing on building climate-friendly venture businesses in Africa has raised $10 million in its Series C funding round to expand its capacities for backing cleantech startups on the continent.

• The fund will be used to improve its talent teams, the company claims.
• Persistent Energy offers expertise and investment in renewable energy businesses in Africa and builds clean-energy startups from idea to growth stage, with a record of 20 partner companies across the continent to date.
• The investment and consulting firm invests in commercial and industrial solar solutions, e-mobility solutions, and ecosystem building, with its portfolio including Solar Works (South Africa), Solar Taxi (Ghana), and UpOwa (Cameroon) among others.
• Kyuden International Corporation, an arm of the Japanese Kyushu Electric Power Group led the round, with participation from Kotaro Tamura, BK Ventures BV, and DPI Energy Ventures.