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French development finance institution Proparco has committed $15 million to the African Transition Acceleration Fund (ATAF), a new pan-African fund focused on financing climate infrastructure at an early stage of development. The fund is managed by African Infrastructure Investment Managers (AIIM), a pan-African infrastructure investment manager, and has reached a first close as part of a targeted $200 million fundraising.
The fund will invest equity or quasi-equity in about 14 infrastructure development companies or platforms, with ticket sizes of $10–$30 million. These investments are intended to support the development of project pipelines and accelerate the deployment of energy transition-related solutions.
“In Africa, one of the main obstacles to the energy transition remains the lack of capital available to develop projects at an early stage. By supporting ATAF from its first close, Proparco is helping to establish an instrument capable of addressing this gap and accelerating bankable climate infrastructure across the continent,” said Tibor Asboth, head of private equity for Africa and the Middle East at Proparco.
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