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Acumen Fund - Pioneer Energy Investment Initiative (PEII)

Acumen launched the $20M Pioneer Energy Investment Initiative (PEII) to invest in, support, scale, and learn from innovative energy companies over the next three years. The PEII aims to reach 8 million people by 2026 with energy access. Acumen expects the PEII portfolio to attract at least 5X the capital it invest from other capital providers to help scale viable new models. The focus areas of PEII are two: Energy generation (Solar home systems in new markets Solar & hybrid mini-grids) and Energy usage (Innovations for energy use). Acumen will have the flexibility to invest across each pillar’s value chain, including product and service companies as well as technological enablers (i.e. PAYGO, metering, etc.) and financial enablers.Acumen’s pioneer capital will not be applied within certain capex-heavy portions of the value chain (i.e. R&D). 

The criteria of PEII are the following: 
1. Affordable solutions targeted at the poor 
2. Primarily leverage solar technology 
3. Aligned with the key insights from acumen’s past investments 
4. Solutions which are a destination risque; for energy access, not a bridge to the grid

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Specifications

Program website

https://acumen.org/approach/

Type

Capacity Building
Investor

Geographical Scope

Ethiopia
Kenya
Rwanda
Tanzania
Uganda
Ghana
Nigeria
Sierra Leone
Southern Asia

Type of Cap Building

Business Development

Funding / Investment / CapBuild type

The total initial capital raise is $0.25-$1M. The total capital per company (including initial investment + potential for follow-on) is $1.5M-$2M.
Ideally includes at least one co-investor, in order to ensure sufficient short-term access to follow-on capital.
Investment instruments: Equity (Common and Preferred) or Convertible Debt

Technical or other assistance

Investment companies in the energy portfolio will have an annual Core Insights Lean Data project which focuses on understanding customer value proposition, fundamental customer insights, and poverty profile of customers. Every other year, companies will have an Energy Essentials Lean Data project which tracks impact aligned with the sector harmonized impact metrics (GOGLA).

Contact information

Name

Leslie Labruto, Global Energy Lead

E-mail

llabruto@acumen.org

Last update

Date

24-10-2018

Status

Accepting Applications Check Website

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