With heightened black-out in Zimbabwe, increased load-shedding in South Africa, and partial or complete blackout in most parts of Africa, Facebook is pitching tent with a few investors who are looking to close the continent’s energy gaps. Backed by the DOEN Foundation, Facebook, Shell Foundation, and USAID, VentureBuilder, an energy-focused startup which aims to scale African-owned and managed off-grid solar enterprises expanding energy access to underserved populations in Africa, has officially been launched.
Here Is The Deal
- VentureBuilder is not just the latest player in the off-grid energy market on the continent, it is also aggregating all the already existing renewable energy startups on the continent to tackle the lack of access to modern electricity services.
- VentureBuilder hopes to help these indigenous distributors grow into high-impact solar companies.
- This will be done by focusing on three key areas to close the electricity access gap on the continent:
- Partnering with existing local African distribution enterprises that cater to rural underserved communities.
- Investing the much-needed ‘patient’ capital alongside Enterprise Development Services to enable entrepreneurs to scale their business.
- Rigorous tracking of key metrics associated with business performance and social impact.
“As Africa’s off-grid solar revolution has evolved, many industry insiders have recognised the need to empower a new generation of local enterprises,” says Dan Murphy, Managing Director of VentureBuilder. “We’re excited to partner with these local businesses and provide them with the human and financial resources they need to sustainably and profitably scale their impact”.
‘Patient’ Early Stage Capital
In simple terms, VentureBuilder would not only be sitting down doing the aggregation, it would also be heavily investing in local renewable energy startups through a new investment model it calls ‘patient’ early-stage capital This investment in local partners across Africa, combined with a specialised suite of technical expertise, will accelerate each partner’s path to scale.
By doing so, VentureBuilder intends to tackle the lack of access to modern electricity
“The DOEN Foundation has supported dozens of energy access initiatives over the years. We believe VentureBuilder can be a gamechanger in supporting and scaling indigenous enterprises across Africa, in areas most in need,” says Saskia Werther, Program Manager at the DOEN Foundation.
Read also: African Renewable Energy Startups Get A New Fund
A Look At VentureBuilder
VentureBuilder has been co-developed by Catalyst Off-Grid Advisors and Open Capital Advisors since 2017, leveraging both companies’ decades of experience in building, advising, and financing off-grid solar companies. The development phase was made possible with support from Facebook, who also committed additional financing alongside the DOEN Foundation, Shell Foundation, and USAID for the implementation phase.
Want to learn more?
Visit VentureBuilder’s website at https://www.venture-builder.com/contact-us