Africa Climate Ventures (ACV)



Africa Climate Ventures (ACV) is a pioneering venture builder working to build a portfolio of businesses focused on climate action across Africa, boosting continental participation in global carbon markets. ACV aims to launch and scale a portfolio of 15 climate positive ventures, over the next four years, by investing to: i) bring proven global climate technology to Africa, ii) accelerate and de-risk the continental expansion of technologies and business models that have gained traction in one or a few African market(s), and iii) add carbon revenue streams to existing African businesses with the potential to scale climate positive solutions.

Investment Details


Africa Climate Ventures (ACV)


Building innovative African climate positive businesses that can participate in global carbon markets


Carbon mitigation, capture and removal.


Rwanda, Kenya, Malawi, South Africa, Nigeria, Ghana

In portfolio since


Our role

Committed Capital: GBP 1m & Grant-GBP 0.075k Instrument: Convertible Loan

Our investment

FSDAi collaborated with ACV to refine their investment thesis that is founded on the belief that Africa is inherently well positioned to tap into new climate-related business opportunities. These businesses can provide a solution to the world reaching net zero emission targets without setting aside Africa’s development agenda.

FSDAi has provided a convertible loan to ACV to support the venture builder’s formalisation and build additional ventures as demonstrations to attract investment from larger funds. FSD Africa will also provide a grant to support the development of premium carbon credits and the marketing of portfolio and pipeline companies.

Our intention is to support ACV in raising US$45 million to establish innovative and high growth African climate businesses.

Purpose and target market

  • Building and scaling climate positive businesses which generate and supply high quality carbon credits is crucial to the growth of the carbon market in Africa which is at a nascent stage. ACV seeks to launch and build businesses with potential for significant scale to mitigate the negative effects of climate change on the continent through carbon mitigation, capture and removal.
  • By investing in ACV, FSDAi will play a catalytic role in demonstrating carbon as an investable asset class which can attract private and public capital. The investment seeks to de-risk and demonstrate cases of novel high quality African climate businesses which can be scaled into investable opportunities that attract commercial capital and participate in global carbon markets on fair terms.
  • The Climate Action Platform-Africa will collaborate with FSD Africa to work on policy initiatives which will create an enabling environment for transaction structuring and execution in the climate and carbon space.
“We are thrilled that FSDAi has joined us in building ACV. The involvement of FSDAi has already been invaluable in refining the ACV model. As we work towards ambitious objectives, we believe FSDAi will be a key partner in ensuring our success.” James Mwangi, CEO of Africa Climate Ventures

Impact to date

  • Reduction of 100 million tonnes annually by 2030, at least 30% capture.
  • 5000 jobs will be created, protected, and supported with at least 50% women.
  • 15 Positive policy changes influenced.
  • GBP 34m will be mobilized/catalyzed from the public and private sector for projects designed to address climate change.

ACV’s impact measurement approach will evolve as we learn more about building businesses in the climate space and partner with new impact investors and actors.

Investee contacts

FSD Africa contact

Riverside Green Suites (Palm Suite), Riverside Drive, Nairobi

Updated: February, 2024