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Africa’s Energy Transition Gets $238M From Evolution III
Cape Town and London-based private equity firm Inspired Evolution has announced the final close of its Evolution III Fund on 3 March 2025, securing $238 million in total commitments. This milestone solidifies the firm’s role as a leader in Africa’s energy transition, driving sustainable development through clean energy infrastructure, energy access, and energy transition investments.
The final close attracted additional commitments from Oesterreichische Entwicklungsbank (OeEB) and the International Finance Corporation (IFC), broadening the fund’s investor base. Evolution III follows the success of its predecessors, focusing on clean energy infrastructure, resource efficiency, and energy access to accelerate Africa’s shift toward renewable energy.
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