As demonstrated by the recent investment in BasiGo, a Kenyan e-mobility startup that seeks to revolutionize public transport in Africa, On.Capital team is well positioned to make the most of new waves of market opportunities, and drive consolidation. The new fund recently received financial support from Seed Capital Assistance Facility (SCAF).
The fund’s investment landscape is focused on grid edge (technologies and business models that advance the transition to the next-generation power grid), and access to critical smart infrastructure services in frontier markets. On.Capital has appointed SouthBridge Group as advisor to accelerate the closing with private, public, and Africa-based investors.

“We are proud to be advised by one of the largest pan-African corporate and sovereign advisors, whose team has become one of the experts on climate action and clean energy access in Africa. We believe SouthBridge is one of the few who can help us build an African fund, for African entrepreneurs, with African investors”, said Emmanuel Beau, Founder, and President of On.Capital.

Commenting on this new collaboration, Lionel Zinsou, Founder and Managing Partner of SouthBridge Group, said: “On.Capital’’ track records and pipelines speak for themselves. This new fund is what entrepreneurs and governments need to build resilient, green, and accessible infrastructure for all people and businesses. On.Capital’s new fund attracts private sectors investors, not just because of its impact, but the risk/return profile of their portfolio in the making.

Last week, BasiGo announced our first steps outside of Kenya. In a few short months, BasiGo will have electric buses operating in Kigali, Rwanda. 58% off Rwanda’s electricity comes from renewables. Just like Kenya, an electric bus in Rwanda has a massive and immediate impact on climate emissions and air pollution.

But in Rwanda, this mission goes well beyond environmental impact. Following the COVID pandemic, Rwanda is facing an urgent need for more public transport, at exactly the same time that Public transport providers are struggling under the highest fuel prices in over a decade. Electric buses are the solution to this compounding problem and everyone agrees they are the future for public transport in the country. They represent the chance for Wast African countries to decouple from fossil fuel imports and instead grow public transport using renewable energy generated in the region. But facing this urgent need for more public transport in Rwanda, we have to find a way to accelerate the transition! We need to build an entire ecosystem at light speed – E-Buses, charging, service, and financing!

When we started BasiGo, we did not anticipate how important electrification of public transport would become to the region at this moment in time. But we are ready to #TakeTheLead and make the future of clean, electric public transport in Rwanda a reality today!

On.Capital SAS has invested, alongside a group of experienced business angels, in STIMA, a Kenya-based software as a service (#SaaS) for electric mobility and traditional fleet managers. STIMA created a smart energy infrastructure solution to enable 15 million motorbike taxi drivers in sub-Saharan Africa to switch to electric two-wheelers. The On.Capital team is proud to support STIMA’s open platform approach and growth on the continent.

“This is our third investment in e-mobility in Africa, of which 2 are in Kenya [On.Capital invested in BasiGo]. The market is at a turning point, similar to the pay-as-you-go and C&I space a few years ago. There is a large market of vehicle fleets waiting to turn to electric. The market is ready to take off”, says Emmanuel Beau, Founder and President of On.Capital.

“We believe that STIMA is very well positioned to deploy its solution in many geographies as the company is flexible and can partner with a variety of key players across the value chain, be it an incumbent fleet manager, asset owner, utility or EV manufacturer”, says Julien Jeannet, CoFounder and Senior Partner at On.Capital.

« Our commitment is to support the growth of sustainable, profitable, and scalable e-mobility businesses across Africa and other regions. At STIMA, we firmly believe in an inclusive model that encourages the participation of numerous companies in the 2-wheeler e-mobility sector and equips them with the technology to efficiently deploy and manage battery-swapping infrastructure.
By harnessing the collective strengths of established companies, our ultimate goal is to accelerate the transition of 30 million commercial riders on the continent. We see great alignment with On.Capital, their support will contribute to boosting our technology developments and facilitate the transition to e-mobility for a greater number of companies », says Jason GRAS, Co-Founder at STIMA.

Solarbox Africa Inc, incubated by Wuri Ventures, brings a new approach to electrifying last-mile logistics for Fast Moving Consumer Goods (« FMCG ») and people. Their initial pilot in #Senegal demonstrated the competitiveness in their design, assembly, charge, and battery swapping for electric 3-wheelers. On.Capital is proud to be their first institutional investor to support their go-to-market.

Solarbox serves fleet managers/owners and logistic companies going electric for tricycles that can carry up to 800 kg per load. The company both retrofits existing and manufactures new 3-wheeled vehicles. SolarBox Africa brings direct short-term savings to 3-wheelers operators and drivers – at no upfront cost – to make cities cleaner, smarter, and logistics cheaper!

Prior to expanding to large markets like #Nigeria and #Kenya, Solarbox is looking at capturing a significant market share in Senegal, a market intimately mastered by both Wuri Ventures and On.Capital. The latter is already providing more than capital, by supporting industrialization, software development, and strategic partnerships to launch big markets.

« On.Capital brings more than capital: they are leaders in the renewable energy space in Africa and are laser-focused on electric mobility in particular. They are a great fit for Solarbox at this stage », says Tijan Watt, co-founder of Wuri Ventures and interim CEO of Solarbox.

« We believe there is a big niche market for 3-wheelers to go electric in Africa, as it happened in India and China; Solarbox has a unique solution and stellar team to capture it », says Emmanuel Beau Founder and President of On.Capital.

« Solarbox demonstrated it could bring to market its own bespoke solution that actually comes from the field and users; it is now ready to industrialize, and build strategic partnerships with OEM and suppliers », says Paul-François Cattier, Venture Partner at On.Capital.

Southbridge Investments and On.Capital Form Joint Venture to Launch “Energy Go-Getters Fund” for Clean Energy Access Investments in Africa.

Southbridge Investments and On.Capital are pleased to announce the formation of a strategic joint venture to manage a USD 100 million Fund: The Energy Go-Getters Fund. This pioneering initiative is aimed at accelerating universal energy access and climate resilience across the African continent, with a particular focus on underserved countries. The collaboration brings together the expertise and resources of two prominent firms, with a shared commitment to driving innovative sustainable energy solutions and fostering inclusive economic growth.

The Energy Go-Getters Fund will target investments in a wide spectrum of energy access businesses, ranging from early-stage startups with promising technologies to mature companies poised for expansion. By harnessing the power of clean and renewable energy sources, the fund aims to contribute to Africa’s sustainable development goals while generating attractive returns for its investors.

“We believe that Africa has tremendous opportunity to harness its vast resources in renewable energy to meet its energy, jobs and carbon objectives and deliver a brighter and more sustainable future for its people. This joint venture with On.Capital not only exemplifies our dedication to responsible investing but also showcases our confidence in Africa’s potential as a global leader in the renewable and digital energy sector.” said Dr. Frannie Léautier, CEO of Southbridge Investments.

“Through the Energy Go-Getters Fund, we provide the much-needed early stage and scale up equity to energy access champions, especially in underserved markets. As Go-Getters, we are on the ground, alongside our entrepreneurs, determined to overcome new and difficult situations. We’ll Go-Get universal access to energy done ! We are excited to embark on this journey with Southbridge Investments, as we pool our resources and collective expertise to continue driving innovation, job creation, and environmental stewardship across the continent.” said Emmanuel Beau, CEO of On.Capital and founding Partner of Energy AccessVentures, a USD90 million smart infrastructure fund.

Both Southbridge Investments and On.Capital have a proven track record of successful investment strategies, value creation and an unwavering commitment to responsible business practices. This joint venture solidifies their dedication to driving positive impact through sustainable investments.

The launch of a dedicated fund management platform marks a significant milestone in the partnership between Southbridge Investments and On.Capital, as they work together to accelerate Africa’s journey towards a more sustainable energy landscape.

About SouthBridge Investments:
SouthBridge Investments (SBI) is the investment and asset management arm of SouthBridge Group, a Pan-African advisory and investment company with offices in Abidjan, Casablanca, Kigali, London and Paris. The firm is led by seasoned professionals comprising its founders Donald Kaberuka and Lionel Zinsou, and including its CEO Frannie Leautier, and COO Emeryc Kpenou.
SBI aims to provide a uniquely Pan-African investment service with on the ground operating experience. It directly manages a range of investment vehicles, fully dedicated to African markets. SBI also advises partners and clients on investment issues and opportunities on the continent.
SBI’s overarching goal is to be actively involved in the realization of African potential by channeling investments to unique opportunities. It differentiates itself through specific features including an unparalleled team with some of the most experienced professionals within the African investment industry bringing and exceptional network in Africa and across the globe. It provides a premium access to deal flow in all regions of the continent, and a strong emphasis on creating value over the long-term.

About On.Capital SAS:
Smart Capital for Peace and Prosperity On.Capital is a Paris-based advisory, fundraising, and investment company, founded to unleash capital, talent, and innovation in frontier markets. Selected as Climate Champion for its work on climate resilience by the Boston Consulting Group for the COP27, On.Capital received the support from United Nations Environment Program Seed Capital Assistance Facility for the fundraising of the Energy Go-Getters fund. On.Capital specializes in smart infrastructure and responsible commodities for impact.