Inspired Evolution Managers Limited successfully achieved the first closing of its third fund, Evolution III Fund, on March 3, 2023. Evolution III closed at USD 167.3 million in conditional commitments from seven international investors, with a further 12–18 months window to reach its target close of 400 million in capital commitments.
Evolution III offers next-generation energy transition investment strategies and will look to invest in traditional utility-scale, grid-connected IPP platforms and projects, decentralised commercial and industrial (C&I) private offtake opportunities, off-grid solutions and energy-as-a-service (EaaS) micro-grid infrastructure-type offerings. It will also look to invest growth equity into energy and resource-efficiency, technology-based businesses that ‘do more with less’ and reduce resource footprints. Evolution III will provide investors with long-term capital growth and yield by taking significant minority and controlling equity and equity-related stakes, predominantly in renewable energy platforms.
Inspired Evolution is a Pan-African climate-centred private equity firm specialising in clean energy infrastructure and energy and resource-efficiency growth investment. The firm has been involved in financing the development and operations of more than 2 GW of renewable energy infrastructure-type generation projects and multiple growth equity investments across sub-Saharan Africa since 2007 and focuses on key climate-driven principal investment themes, namely clean energy infrastructure, energy access, energy and resource efficiency and the value chains that support them.