Helios Investment Partners hits first close on CLEAR Fund

Africa-focused private equity firm Helios Investment Partners has raised approximately $200 million in anchor commitments from eight institutions to reach a first close for its Climate, Energy Access, and Resilience (CLEAR) Fund.

Helios is aiming for the CLEAR Fund to become the largest Africa-focused climate fund raised to date, with a target of $400 million.

The fund will invest in climate-smart agriculture and food, alongside four other focus areas: green energy solutions; green mobility and logistics; recycling and resources efficiency; and digital and financial climate enablers.

The fund was initially backed by InfraCo Africa (part of the Private Infrastructure Development Group) and the UK’s Foreign, Commonwealth and Development Office, via its Mobilist programme.

Helios has secured commitments of undisclosed sizes from six further investors to anchor the first close: UK development finance institution British International Investment; the European Investment Bank; the Emerging Markets Climate Action Fund, advised by EIB and managed by Allianz Global Investors; the Dutch Development Bank; and the Swiss Investment Fund for Emerging Markets, advised by ResponsAbility Investments.

BII previously invested in Helios’s first, second and fourth funds.

In a statement, Christopher Chijiutomi, managing director and head of Africa at BII, said: “We are delighted to once again partner with Helios Investment Partners to support the growth of African companies.

“As the UK’s development finance institution, this investment also reinforces BII’s commitment to supporting Africa’s green transition. Mobilising much-needed private capital into green sectors through this fund will help to drive innovation and create new opportunities, contributing to a resilient and prosperous future for Africa.”

Helios said in a statement it would begin investing the capital immediately.