IFC, a member of the World Bank Group, today announced that it will invest in the Evolution One Fund, a private equity fund, which in turn will invest in clean technologies and enterprises working to mitigate climate change in Southern Africa.
IFC will invest up to $20 million in the Evolution One Fund, which will be managed by Inspired Evolution Investment Management, a South Africa-based company. The fund will invest in companies located primarily in Southern African Development Community countries. It will target climate change sectors such as renewable energy (landfill gas, solar, and wind energy) and related sectors, including water and waste management, recycling, natural products, and green buildings. IFC will work with and co-invest alongside the Consensus Business Group, a London-based investment advisor on environmental funds, on this initiative.
See full Press Release.
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