Holocene has completed the final close of Southern Africa’s first dedicated Climate Tech Fund, marking a significant milestone for Climate Innovation Africa. The fund supports early-stage founders with both capital and operational expertise, helping climate-focused startups scale across sectors including clean energy, circular economy solutions, and electric mobility. Early results show strong job creation, investor returns, and growing momentum for climate-tech investment across the continent.
Key Overview
- Holocene completed the final close of Fund I (HVF1)
- HVF1 is Southern Africa’s first dedicated climate-tech fund
- The fund has invested in 10 startups within 18 months
- Portfolio companies have created more than 500 jobs
- Startups attracted $8 in follow-on funding for every $1 invested
- The fund achieved a 2x markup on invested capital
- Holocene provides capital alongside venture-building support
Climate Tech Fund Closes as Holocene Backs African Startups
Holocene has announced the final close of Holocene Ventures Fund I (HVF1), Southern Africa’s first dedicated Climate Tech Fund, marking an important milestone for the continent’s growing climate innovation ecosystem.
The fund was established to support early-stage founders building solutions to environmental and sustainability challenges while addressing a critical gap in Africa’s startup ecosystem. Many climate-focused entrepreneurs struggle not only to access funding but also to secure the operational support needed to scale their businesses. Holocene’s model aims to solve both challenges through a combination of capital and hands-on venture-building assistance.
Since deployment began 18 months ago, HVF1 has invested in 10 climate-tech companies across Africa. According to Holocene, these businesses have collectively created more than 500 jobs, achieved a twofold increase in invested capital value, and attracted eight dollars in follow-on funding for every dollar initially invested by the fund.
Founder Josh Romisher said Africa’s rapid population growth, urbanization, and rising consumption present both a challenge and an opportunity.
“It’s clear we need to dramatically accelerate the pace of climate innovation in Africa,” he said.
“The continent will double in size, urbanize, and begin to truly consume during our lifetimes. That can be seen as an impending climate catastrophe or a massive innovation opportunity. We choose to view it as the latter.”
Supporting Sustainable Startups Beyond Funding
One of the fund’s distinguishing features is its focus on helping Sustainable Startups overcome the operational barriers that often prevent promising businesses from reaching scale.
HVF1 typically invests between $50,000 and $250,000 in cash while providing an additional $50,000 to $100,000 worth of venture-building services. Startups receive at least 12 months of embedded support from specialists in fundraising, strategy, grant writing, revenue growth, and business development.
This approach is designed to improve the chances of long-term success in sectors where founders often face both capital constraints and execution challenges.
ScootHero founder and chief executive officer Wahlied Cole said Holocene’s support was instrumental in helping the company navigate key growth stages.
“What excites me most is not just that Holocene backed us early, it’s that they got in the trenches with us,” Cole said.
“When we needed help with go-to-market, they brought in operators. When we were hitting a ceiling on capital, they helped us unlock grants and asset finance. It wasn’t just capital. It was a partnership built on real understanding of what African founders need.”
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Building Africa’s Climate Economy
The fund’s portfolio reflects the diversity and potential of Africa’s emerging climate economy.
Among its investments is FARO, a circular economy company that uses technology-enabled supply chains to redistribute surplus inventory. The company has reportedly grown to around US$15 million in trailing revenue and recently secured Series A funding.
ScootHero is expanding electric mobility in South Africa through a network of more than 500 electric motorbikes and over 50 battery-swapping stations.
Meanwhile, Uganda-based Yongeza is developing charging and mobility infrastructure for electric vehicles and has reportedly achieved positive EBITDA within its first 18 months of operation.
These businesses highlight growing opportunities in clean transportation, resource efficiency, and sustainable infrastructure across the continent.
Growing Venture Capital Interest in Climate Solutions
The final close of HVF1 comes at a time when Venture Capital Africa is increasingly shifting toward climate-focused investments.
While fintech dominated African startup funding in previous years, climate-tech ventures are attracting growing attention from investors seeking both impact and returns. Industry data shows that climate-focused startups raised significantly more capital in 2025 than in previous years, making clean energy and sustainability among the continent’s fastest-growing investment categories.
Development finance institutions are also playing an important role in supporting the sector. FSD Africa provided early backing to Holocene, helping the firm establish the fund and identify scalable climate innovations.
Investor Jonathan Smit said the fund’s combination of environmental impact and commercial potential was particularly compelling.
“Holocene is helping build the ecosystem and companies that can deliver meaningful climate impact while creating lasting economic value,” he said.
Outlook
With fundraising complete, Holocene is entering the next phase of helping portfolio companies scale, attract larger funding rounds, and ultimately achieve successful exits. The success of HVF1 demonstrates growing confidence in Clean Energy Investment and climate-focused entrepreneurship as viable drivers of economic growth across Africa.
As investors increasingly recognize the continent’s climate innovation potential, Holocene’s early results suggest that financial returns and environmental impact can go hand in hand. The fund’s model of combining capital with deep operational support could help shape the next generation of African climate-tech companies while contributing to job creation, sustainable development, and long-term economic resilience.
FAQS
FAQ 1: What is Holocene Ventures Fund I (HVF1)?
Holocene Ventures Fund I (HVF1) is Southern Africa’s first dedicated climate tech fund, created to invest in early-stage startups developing solutions in clean energy, electric mobility, circular economy, and other climate-focused sectors across Africa.
FAQ 2: How has the fund performed since its launch?
Since deployment began, HVF1 has invested in 10 climate-tech startups, helped create more than 500 jobs, achieved a 2x markup on invested capital, and enabled portfolio companies to attract $8 in follow-on funding for every $1 invested by the fund.
FAQ 3: How does Holocene support startups beyond funding?
In addition to providing capital, Holocene offers at least 12 months of hands-on venture-building support. Startups gain access to specialists in fundraising, revenue growth, strategy, grant writing, and business development to help accelerate growth and improve long-term success.
FAQ 4: Why is the final close of HVF1 significant for Africa’s climate-tech sector?
The final close demonstrates growing investor confidence in African climate-tech businesses and highlights the increasing role of climate innovation in driving economic growth, job creation, and sustainable development across the continent.
Sources: Disrupt Africa, Empower Africa, AU Startups
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