Private equity firm Bamboo Capital Partners and impact investor Persistent Energy Capital announced on 6 November a strategic partnership to invest in companies active in the off-grid energy sector in Africa. The partnership will see Bamboo Capital invest in Persistent Energy through its $53m Oasis Fund. This will allow Persistent Energy, a specialist early stage investor in companies, to develop young off-grid companies who may then receive later stage investment from Bamboo Capital.
Persistent Energy is an investor in off-grid solar companies PEG Africa, Oolu, and rensource, as well as hybrid storage systems provider BOS. Bamboo Capital’s portfolio includes investments in UK headquartered BBOXX and solar products company Greenlight Planet.
Persistent Energy partner Chris Aidun said; “Bamboo and Persistent have an alignment of objectives when it comes to fuelling the future of off-grid energy in emerging and frontier markets, so we are delighted to be partnering with them”. Bamboo fund manager Christian Schattenmann said that, “this is an important partnership for Bamboo and our Oasis fund because it expands our footprint in the off-grid energy sector and builds upon our existing foundations. Looking ahead, Bamboo and Persistent will continue to develop and finance best-in-class companies in Africa and South Asia’s vast off-grid energy markets”.
