Mirova, an impact investment firm of Natixis Investment Managers, is acquiring SunFunder for private debt. The company, which has offices in Nairobi, London and Paris, funds renewable energy projects in Africa and Asia.
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On June 3, 2022, Mirova acquired 100% of the shares of SunFunder. Sun-Funder was founded ten years ago as a crowdfunding platform with the goal of providing financing to the decentralized solar energy sector in Africa. Since then, the company has made a number of innovative blended financing investments and invested more than $165 million in 58 companies.
The focus is on generating clean energy, primarily in Africa and Asia
These include investments in residential off-grid solar systems in Malawi, small-grid projects in villages in Kenya and commercial and industrial rooftop systems in Nigeria and Thailand. SunFunder has helped increase access to solar energy for more than ten million people, primarily in East and West Africa. The company has recently expanded its expertise into other emerging countries, such as Southeast Asia.
The entire SunFunder team stays on board
Together with Mirova, it will create a broader investment platform in emerging markets focused on clean energy and climate investments. SunFunder has an experienced and diverse team of 38 employees from 16 different countries, of whom 55% are women and 45% are African.
Together, Mirova and SunFunder aim to become a global leader in financing the energy transition. SunFunder complements the suite of impact investing solutions by expanding its expertise in debt financing and in-depth knowledge of emerging markets. Mirova, the leader in impact investing in Europe with its investment strategies in energy transition infrastructure, private equity, social impact investing and listed equity, is increasing its commitment to emerging markets.
The first joint venture between Mirova and SunFunder
This is the launch of a $500 million Solar Debt Fund for nearly 70 projects in Africa, Asia and Latin America. The first closing could take place at the end of the year.
Easier access to impact investments for Natixis clients
“Local presence in emerging markets is particularly important to effectively address the challenges of combating global warming and social inequality. We are therefore pleased to have the SunFunder teams join us with their expertise and experience,” said Philip Zawati, CEO of Mirova. Tim Ryan, CEO of Natixis Investment Managers, said: “This acquisition is an important step for our subsidiary Mirova, which fits in with our 2024 strategic plan and helps strengthen alternative investment offerings for Natixis Investment Managers. Our clients will now have easier access to impact. Investing in Emerging Markets “. (kilobytes)