Helios Fund Secures $250M for African Climate Investments

Helios Investment Partners, based in London, has secured a second round of funding for its Helios Climate Fund, reaching a total of approximately $250 million. This initiative aims to address the significant funding gap for climate initiatives in Africa, where public finance currently covers only 10% of the continent’s needs.

Proparco, the private sector financing arm of the French Development Agency (AFD), is the latest investor in the fund. This commitment follows a $20 million investment Proparco made in Helios’s sports and entertainment vehicle in 2024; the specific amount of Proparco’s contribution to the climate fund was not disclosed.

Fund Details

Helios Climate is a dedicated fund focused on scaling African companies involved in the low-carbon transition. It differs from generalist private equity funds by targeting specific decarbonization themes across the continent. The fund intends to invest between $20 million and $50 million per company, taking both significant minority and majority stakes. Investment sectors include renewable energy, sustainable agriculture, and green mobility, with a pan-African geographic focus.

Investor Participation

Helios has attracted a diverse group of investors, including Development Finance Institutions (DFIs) and institutional players. The second round of funding includes commitments from European DFIs such as the EIB (EU), FMO (Netherlands), BII (UK), SIFEM (Switzerland), Swedfund (Sweden), and BIO (Belgium). Other investors include Standard Bank, InfraCo, and the Emerging Markets Climate Action Fund (EMCAF).

Market Context

Africa is disproportionately affected by climate change despite its low contribution to global emissions. Private capital investment in the region has been historically limited due to perceived risks. With $250 million raised, Helios aims to become a leading private equity player capable of executing large-scale climate deals across the continent.

Helios Investment Partners has previously invested over $2.5 billion across 39 companies in 35 African countries, primarily in infrastructure and telecommunications. The Helios Climate Fund represents a strategic shift towards specialized impact investing.

The fund’s focus on companies requiring up to $50 million in capital signifies a transition for climate tech in Africa from early-stage ventures to a private equity growth phase. Helios is targeting established companies in sectors like green mobility and agritech seeking capital to expand within regional markets. A challenge will be identifying a sufficient number of investment-ready companies at appropriate valuations to effectively deploy the $250 million in the current market.