28 September 2023: Gaia Impact, an impact investment advisory firm that launched a coalition in March last year with Capital Croissance, Schneider Electric, Capelan, and Investisseurs & Partenaires (I&P), has achieved its first closing target of €40 million for the Gaia Energy Impact Fund II (GEIF II).

GEIF II, a fund meeting stringent impact criteria related to Article 9 of the SFDR regulation, aims to finance and support startups and SMEs operating across the entire value chain of decentralized renewable energies, leveraging Gaia Impact’s expertise. The previous investment vehicle, Gaia Impact Fund SAS (“Fund 1”), invested in around a dozen companies, primarily in Sub-Saharan Africa, including Osmosun, which recently successfully went public on Euronext Growth®.

Following the same investment thesis, GEIF II is poised to invest in seed, Series A, and Series B stages, in equity and quasi-equity, with ticket sizes ranging from €500,000 to €5 million. The fund aims to invest in approximately twenty companies, with around 85% of them active in Sub-Saharan Africa.

GEIF II investments will be made in the sectors of decarbonized energy access, productive use of energy, electric mobility, new energies, and enabling technologies. They are expected to provide improved energy access to 4 million people, create and support 20,000 jobs, and avoid the emission of 4 million tons of CO2.

Capital Croissance, exclusively advised by the Gaia Impact team, is the fund manager of Gaia Energy Impact Fund II, while Schneider Electric and the family office Capelan are the two cornerstone investors of the fund. I&P, a specialist in private equity investment in Africa for 20 years, is a strategic partner of the fund, thanks to its local presence and experience in Africa.

The Gaia Impact team not only provides financial support to its investments but also positions itself as a patient and engaged partner alongside entrepreneurs, advising them on strategic decisions and participating in business structuring. Schneider Electric and I&P will contribute to supporting the investments in their respective areas of expertise.

GEIF II aims for a final closing of €80 million by the first half of 2024. During the summer, GEIF II made its first investment of $1 million in Surechill, a company based in Kenya that has developed technology revolutionizing medical and productive refrigeration.

Hélène Demaegt, Founder and President of Gaia Impact, commented on this first closing, saying, “We sincerely thank our partners for making the Gaia Impact adventure even more ambitious. Thanks to them, our action for the energy transition in Africa is taking on a new dimension.”

Eric Neuplanche, Founder and President of Capital Croissance, added, “We have been impressed by the achievements and high professionalism of the Gaia Impact team since 2017, and even more so by the strong social, societal, and environmental ambition of this impact fund. It replaces polluting energy with decarbonized energy and provides access to energy for 4 million people. The entire Capital Croissance team is proud and highly motivated to be associated with the Gaia Impact team, I&P, and Schneider Electric in a fund project that reconciles economic returns, social impact, and environmental impact.”

Jérémy Hajdenberg, co-CEO of I&P, emphasized, “I&P is proud to engage with Gaia Impact on this fundamental project, addressing both energy and SME financing issues. Beyond its participation in Investment Committees and governance, I&P will provide its expertise on ESG and impact and its network in Sub-Saharan Africa, built over more than 20 years of impact investment in Sub-Saharan Africa.”

Gilles Vermot Desroches, SVP Corporate Citizenship at Schneider Electric, stated, “Schneider Electric has been active for more than 10 years in supporting access to electricity, especially through its impact investment activity. We believe that this new coalition brings together the best assets to accelerate our impact in Africa. Schneider Electric will make its team’s expertise available for this project.”

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About Gaia Impact: Gaia Impact is an impact investment advisory firm that complies with the directives related to Article 9 of the SFDR regulation and holds the status of a mission-driven company. We are committed to driving the energy transition by investing in small and medium-sized enterprises (SMEs) that produce decarbonized energy or enable direct access to renewable energies in emerging countries, primarily in Sub-Saharan Africa. Our mission is to promote the development of clean and affordable energy to stimulate economic growth and reduce inequalities. Gaia Impact has established a specific process aimed at measuring and managing its impact, based on the measurement of ESG (Environmental, Social, and Governance) performance, impact, and efficiency.

About Schneider Electric: Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure, and industries. We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

About Capital Croissance: Backed by a community of 400 private investors and renowned institutional investors, Capital Croissance is a Private Equity management company authorized by the French Financial Markets Authority (AMF) with approximately €700 million in assets under management. They manage entrepreneur-focused funds that invest in privately held French SMEs and ETIs through equity investments during restructuring operations.

About Capelan: Capelan is a French family holding company based in Aix-en-Provence that supports and invests in projects that prioritize the long-term interests of both humans and nature.

About I&P: Investisseurs & Partenaires (I&P) is a pioneering impact investment group, dedicated to financing and supporting entrepreneurs in Africa. Since its creation in 2002, I&P has supported more than 250 companies operating in various sectors, based in Sub-Saharan Africa, and finances at least 50 more SMEs each year. I&P’s team is spread over 10 sites in Africa (Burkina Faso, Cameroon, Ivory Coast, Ghana, Kenya, Madagascar, Mali, Niger, Senegal, and Uganda) as well as in France and the United States (Washington DC). It counts more than 160 people specializing in investment, impact, and more generally in supporting African businesses.