Evolution II
Evolution II is a 10-year closed-ended fund with a mandate for equity and equity-related investments into two principle investment streams: development and project finance infrastructure-type investments in clean and sustainable energy; and growth equity investments in energy and resource efficiency companies, and the value chains that support them.
Evolution II achieved its first closing in late December 2016 having raised USD90 million (c. ZAR1.2 billion) from international investors, comprising one remaining investor commitment conditional on a final approval in early March 2017. Evolution II is targeting USD250 million (c. ZAR3.5 billion) for a final closing by end of 2017.
Evolution II targets sub-Saharan African countries where growth prospects, ease of doing business, policy and regulatory certainty, and political stability and bankability offer compelling investment opportunities.