Persistent Launches USD 70 M Africa Climate Fund With USD 52 M First Close

African climate-tech venture builder Persistent has launched a USD 70 M Africa Climate Venture (ACV) Fund, reaching a USD 52 M first close alongside a USD 5 M Venture Building Facility (VBF).

The Mauritius-domiciled fund targets pre-seed to Series A climate startups across energy, agriculture, and resource efficiency, with flexibility for follow-on investments. Its blended finance structure offers downside protection to private investors, aiming to crowd in capital into high-risk early-stage climate innovation.

Beyond funding, Persistent is doubling down on its venture-building model, providing hands-on operational and strategic support to portfolio companies.