FSD Africa Investments (FSDAi) has invested £1 million in Africa Climate Ventures (ACV), a pioneering venture builder with a mission to build a US$45 million portfolio by the end of 2024.
By 2030 ACV aims to eliminate one million tonnes of carbon every year while improving the lives of 50 million Africans and creating at least 5,000 jobs on the continent.
Anne-Marie Chidzero, CIO of FSD Africa Investments, said:“In backing the ACV partners, FSDAi sees a tremendous opportunity to galvanise global investment and finance to promote Africa’s status as the pre-eminent climate investment destination.’’
FSDAi’s investment in ACV takes the form of a convertible loan of £1 million to support the venture builder’s formalisation and build additional ventures as demonstrations to attract investment from larger funds.
On top of this investment, FSD Africa will provide £75,000 in grant funding to support the development of premium carbon credits and the marketing…