Lightrock Launches $500m Africa Clean Energy Fund 

Lightrock has launched a new $500 million clean energy fund aimed at supporting growth-stage businesses expanding access to affordable and sustainable energy across Africa and Asia.

The fund, known as Accelerate7, will focus on companies operating in Sub-Saharan Africa, South Asia, and Southeast Asia, targeting sectors including electricity access, clean cooking solutions, electric mobility, and energy storage technologies.

The development reflects increasing investor interest in clean energy infrastructure across emerging markets, where energy access gaps and rising demand for sustainable energy solutions continue to attract global capital.

According to the company, the new investment vehicle is designed to address the persistent equity financing gap facing clean energy businesses in developing economies.

Lightrock stated that the Accelerate7 fund will invest between $10 million and $50 million in growth-stage companies focused on expanding access to cleaner and more affordable energy solutions.

Investors backing the fund include Equinor ASA, Shell Plc, TotalEnergies SE, and LGT Group.

Chief Executive Officer of Lightrock, Pal Erik Sjatil, said the strategy combines infrastructure investment with growth equity to support businesses providing essential energy services.

“Accelerate7 is investing at the intersection of infrastructure and growth equity, or infra growth equity, targeting businesses that provide essential infrastructure or enabling services,” Sjatil stated.

The company’s Partner and Head of Energy Access, Ademidun Edosomwan, said the fund was specifically designed to bridge financing gaps in emerging markets.

“The fund is specifically designed to bridge the equity gap in emerging markets, focusing on United Nations Sustainable Development Goal 7: affordable and clean energy,” Edosomwan said.

According to the company, the Accelerate7 strategy is targeted at scaling businesses capable of improving electricity access, reducing dependence on fossil fuels, and accelerating energy transition initiatives in underserved markets.

Africa and parts of Asia continue to face significant energy access deficits despite rising electricity demand and increasing urbanisation.

Industry data show that millions of households and businesses across the regions still lack reliable access to electricity and cleaner energy alternatives, creating opportunities for private sector investment in off-grid power, renewable energy systems, battery storage, and clean mobility solutions.

The clean energy sector has increasingly attracted institutional and private capital as governments, development finance institutions, and global investors intensify support for energy transition projects and climate-related investments.

Lightrock noted that the new strategy focuses on what it described as “infra growth equity,” combining infrastructure investment principles with growth-stage private equity financing.

The investment firm was spun out from LGT Group, the private banking and asset management company associated with Liechtenstein’s royal family.

Singapore-based investment company TRIREC will support deployment of the fund in Southeast Asia.

The company disclosed that the fund has already invested in four companies operating across renewable energy, mobility, and clean technology sectors.

The firms include SolarSquare, Sun King, Euler Motors, and ATEC Global.

The launch of the fund comes amid increasing global focus on climate financing and sustainable infrastructure development across emerging markets.

Governments and development institutions have continued to promote investment in renewable energy and low-carbon infrastructure as part of broader efforts to reduce emissions and improve energy access.

The continent continues to experience widening energy supply gaps, particularly in rural and underserved communities where grid infrastructure remains limited.

Private equity firms and development financiers have increasingly targeted investments in solar power, mini-grids, battery storage systems, electric transportation, and clean cooking technologies as demand for sustainable energy solutions rises.

The Accelerate7 fund is expected to support companies developing scalable energy solutions capable of improving access to electricity while supporting environmental sustainability goals.

The investment also aligns with broader global efforts to advance the United Nations Sustainable Development Goal on affordable and clean energy, particularly across regions with significant energy access deficits.