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Top 10 Energy VC Funds & Investors in Zambia (August 2026)

The most active venture capital funds investing in Zambia Energy startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Zambia Energy startup companies. Find investors to raise a Seed, Debt Financing or Venture - Series Unknown round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Goneke Investment Group
VC Fund
2 Zambia Seed, Private Equity Energy, Oil and Gas, Project Management
EDFI ElectriFI
VC Fund
2 United States, Kenya, France Debt Financing, Series A Energy, Solar, Renewable Energy $110k–$30M
Impact Fund Denmark
VC Fund
1 India, Kenya, France Private Equity, Debt Financing Energy, Renewable Energy, Financial Services $8M–$600M
EDFI Management Company
VC Fund
1 Zambia, Benin, Ghana Debt Financing, Series B, Venture - Series Unknown Renewable Energy, Energy, Solar $2.6M–$15M
Opes Impact Fund
VC Fund
1 Italy, Kenya, India Venture - Series Unknown, Seed Communities, Agriculture, Energy $219k–$910k
InfraCo Africa
VC Fund
1 Kenya, India, France Seed, Series B Renewable Energy, Solar, Energy $1.5M–$28M
Danish Investment Fund for Developing Countries
VC Fund
1 France, Zambia, Myanmar Private Equity, Venture - Series Unknown Energy, Renewable Energy, Water
GreenTec Capital Partners
VC Fund
1 Kenya, Nigeria, Morocco Seed, Pre-Seed Logistics, Information Technology, Retail $50k–$1M
Private Infrastructure Development Group
VC Fund
1 Kenya, Zambia, Senegal Grant, Debt Financing, Series C Energy, Renewable Energy, Solar $66k–$50M
bettervest GmbH
VC Fund
1 Kenya, Zambia, Belgium Debt Financing, Venture - Series Unknown Social Entrepreneurship, Solar, Energy $100k–$1.4M
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Investor list

Goneke Investment Group
VC Fund · Johannesburg, NA - South Africa, South Africa · 2 investments in Zambia Energy startups

Pioneering a century-long initiative to finance, build, and secure the critical industries that define national strength.

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Investment focus

  • Industry: Energy, Oil and Gas, Project Management
  • Stage:Seed, Private Equity
  • Geography: Zambia

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Saharan Oil & Gas Company — Saharan Oil & Gas Company Limited (formerly Hume Energy) is a conglomerate of project managers that provide energy solutions in Sub-Saharan Africa. Through our global network of partners we develop and apply Next Generation Technologies to help safely and responsibly address Africa’s growing energy deficit. Energy access influences comfort,safety, security, and human progress, touching every aspect of our lives. SOGCOL aims to evolve from a regional marketer to an advanced energy innovator and a global energy solutions provider. We aspire to be an industry leader in all aspects of energy production, transportation, distribution, and marketing. Our operations encompass identifying energy projects and facilitation of financing from research and development to promotion, marketing, and execution.
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EDFI ElectriFI
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Zambia Energy startups

Impact investment in sustainable energy

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Investment focus

  • Industry: Energy, Solar, Renewable Energy
  • Stage:Debt Financing, Series A
  • Geography: United States, Kenya, France

Investor stats

  • Total investments: 65
  • Round size: Series A $2.2M–$30M; Debt Financing $110k–$10M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • BURN — The future of clean cooking
  • GOGO Electric — Bodawerk is an innovations and engineering company. Our products are created to serve the needs of people at the bottom of the pyramid.
  • MyJouleBox — MyJouleBox offers a solution for solar professionals in Africa to offer leased solar installations to their customers.
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Impact Fund Denmark
VC Fund · 1 investments in Zambia Energy startups

Investeringsfonden for udviklingslande

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Investment focus

  • Industry: Energy, Renewable Energy, Financial Services
  • Stage:Private Equity, Debt Financing
  • Geography: India, Kenya, France

Investor stats

  • Total investments: 31
  • Round size: Debt Financing $8M–$600M; Private Equity $38M–$250M
  • Lead/follow: 58% lead, 42% follow

Portfolio highlights

  • Bright — Bright offers residential solar for the developing world at $0 upfront. They operating first in Mexico, where electricity rates are 2-3x (that of the US), there's 40% more sun, and installation costs are half as much.
  • CrossBoundary — CrossBoundary Energy's renewable energy solutions help decarbonize enterprise by providing cleaner, cheaper and more reliable power.
  • The New Forests Company — The New Forests Company is a sustainable forestry business driven by commercial timber economics. It has an established, rapidly growing plantation with the prospect of a sawmill and energy-forestry operations, which will deliver both attractive returns to investors and significant social and environmental benefits.About Us: Historymap-3TheNew Forests Company was founded in 2004 with the vision of creating a sustainable timber resource in East Africa amidst rampant deforestation. As one of the most fertile regions in the world, East Africa should be able to supply its own timber needs and even export rather than importing the majority. We are excited to be reversing the traditional tale of exporting raw materials and importing value added products in a way that creates regional social, economic and environmental benefits.We planted our first tree in Mubende, Uganda in 2004. Since then the Company has rapidly expanded with four greenfield plantations in Uganda (Namwasa, Kirinya and Luwunga) and Tanzania (Kilolo) as well as a 49- year concession to manage an established plantation in Rwanda (the buffer zone around Nyungwe National Park).The Company is passionate about growing African forestry and continues to plant trees to counteract massive and rapid deforestation (The World Bank estimates that Sub-Saharan Africa will deforest 1.3 million hectares per annum). The Company also complies with the best forestry, social and environmental practices, as audited annually to comply with the Forest Stewardship Council™ (FSC™) certification.The Group has also begun commercialising its timber assets and now operates four pole treatment plants, producing both CCA and creosote treated transmission, telephone, fencing and building poles, three sawmills (construction lumber, wooden pallets, school desks etc.) and a number of charcoal kilns (providing efficient biomass energy as an alternative to the expensive Heavy Fuel Oil).NFC aims to be the premier Pan-African, vertically integrated, socially responsible, sustainable timber company sharing the value created with our shareholders, employees, customers and neighbouring communities.
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EDFI Management Company
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Zambia Energy startups

EDFI Management Company (EDFI MC) is a multilaterally owned impact asset manager which delivers innovative development finance solutions that enable European DFIs, development banks and private sector investors to increase the scale and impact of their work. The company focuses on business models, technologies and geographies where other investorshave not been able to operate at the desired scale given their resources and investment criteria. To learn more visit www.edfimc.eu.

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Investment focus

  • Industry: Renewable Energy, Energy, Solar
  • Stage:Debt Financing, Series B, Venture - Series Unknown
  • Geography: Zambia, Benin, Ghana

Investor stats

  • Total investments: 10
  • Round size: Series B $7M–$15M; Debt Financing $3.3M–$9M; Venture - Series Unknown $2.6M–$4.2M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Sawa Energy — Sawa energy is an affordable, predictable solar electricity solution to power Rwandan businesses with clean and renewable energy.
  • Complete Farmer — Complete Farmer connects growers, buyers, and vendors with technology, support, and market access across Ghana and beyond.
  • Good Nature Agro — Their priority is to generate lasting income with small-scale farmers. They build local community leaders into qualified Private Extension Agents (PEAs) who oversee and train farmers throughout the growing season. They support PEAs to provide frequent trainings and personalized recommendations on how their growers can make their field healthier andmore productive. PEAs promote improved farm practices and deliver a farmer-friendly loan of seeds and additional inputs. At harvest, Good Nature is a guaranteed market for the certified legume seed that their growers produce. Choosing to produce these high-value crops over traditional cash crops - maize and cotton - more than doubles their income.
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Opes Impact Fund
VC Fund · Milano, Lombardia, Italy · 1 investments in Zambia Energy startups

Opes-Lcef is an impact investor that provides catalytic capital to early-stage social enterprises in emerging markets.

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Investment focus

  • Industry: Communities, Agriculture, Energy
  • Stage:Venture - Series Unknown, Seed
  • Geography: Italy, Kenya, India

Investor stats

  • Total investments: 43
  • Round size: Seed $219k–$910k
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Refolo — Refolo is a type B social cooperative that sees social agriculture as having a dual impact: social and environmental. Refolo was created with the aim of creating an agro-ecological and social corridor that runs through the province of Brescia from north to south with the hope that administrations and other communities will come together to generatea positive impact on the environment and the community.Refolo operates in an area located between the municipalities of Brescia, Collebeato, Villa Carcina and Montirone, territories that share the presence of agricultural areas that over the years have been abandoned due to their unsuitability for intensive agriculture and lack of interest by new generations and that are now ready to start again.
  • Ecodudu — Ecodudu is a waste-to-value company. It uses a proprietary innovation to recycle organic waste into high-protein animal feed and organic fertilizer using the black soldier fly. It harnesses insects (nature’s recycling agents) to address global issues which include waste management, demand for protein, and environmental conservation.
  • Sistema.bio — Sistema.bio is a biodigester with biogas appliances. High efficiency biodigesters transform organic waste into renewable biogas.
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InfraCo Africa
VC Fund · London, England, United Kingdom · 1 investments in Zambia Energy startups

As of 1 August 2025, infracoafrica.com and infracoasia.com content has been moved over to pidg.org.

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Investment focus

  • Industry: Renewable Energy, Solar, Energy
  • Stage:Seed, Series B
  • Geography: Kenya, India, France

Investor stats

  • Total investments: 13
  • Round size: Seed $1.5M–$3.4M; Series B $9M–$28M
  • Lead/follow: 54% lead, 46% follow

Portfolio highlights

  • Afresco — The next generation in commercial and industrial (C&I) energy for Africa
  • SunCulture — At SunCulture, we strive to solve the biggest daily challenges of smallholder farmers. We use off-grid solar technology to provide our customers with reliable access to water, irrigation, lighting, and mobile charging, and we can do all of that with a single system.
  • Mawingu Networks — Unlimited internet packages for your home and office. 24/7 customer support. Get connected today, starting from 2,500 per month!
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Danish Investment Fund for Developing Countries
VC Fund · 1 investments in Zambia Energy startups

Danish Investment Fund for Developing Countries

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Investment focus

  • Industry: Energy, Renewable Energy, Water
  • Stage:Private Equity, Venture - Series Unknown
  • Geography: France, Zambia, Myanmar

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Eranove — The Eranove group counts more than 9000 employees all engaged in developping hydroelectric solutions to allow all the pan african citizens to access electricity and drinking water
  • Africa GreenCo — Our mission - addressing creditworthiness to increase generation and growth of renewable energy markets through partnerships and innovative solutions.
  • Alliance for Microfinance in Myanmar — Microfinance in Myanmar
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GreenTec Capital Partners
VC Fund · Frankfurt, Hessen, Germany · 1 investments in Zambia Energy startups

GreenTec Capital Partners is Germany's premier investor into African start-ups and SMEs. GreenTec invests through its unique Results4Equity model, acting as a co-founding partner that is only compensated on business success.

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Investment focus

  • Industry: Logistics, Information Technology, Retail
  • Stage:Seed, Pre-Seed
  • Geography: Kenya, Nigeria, Morocco

Investor stats

  • Total investments: 24
  • Round size: Pre-Seed $50k–$1M
  • Lead/follow: 83% lead, 17% follow
  • Last fund: May invest from a new fund soon — raised $1.2M in 2017

Portfolio highlights

  • Ecodudu — Ecodudu is a waste-to-value company. It uses a proprietary innovation to recycle organic waste into high-protein animal feed and organic fertilizer using the black soldier fly. It harnesses insects (nature’s recycling agents) to address global issues which include waste management, demand for protein, and environmental conservation.
  • Asilimia — Asilimia is a simple, fun mobile app for sending money through M-PESA quickly and without any transaction fees. Simply deposit money to your M-PESA, download Asilimia and send money for free to any other M-PESA account.
  • ShapShap — ShapShap enhances delivery experience through its commission-based marketplace by assigning efficient orders to drivers to ensure their sustainability and scalability.
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Private Infrastructure Development Group
VC Fund · London, England, United Kingdom · 1 investments in Zambia Energy startups

Private Infrastructure Development Group is an infrastructure development firm that offers finance and funds for economic growth.

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Investment focus

  • Industry: Energy, Renewable Energy, Solar
  • Stage:Grant, Debt Financing, Series C
  • Geography: Kenya, Zambia, Senegal

Investor stats

  • Total investments: 9
  • Round size: Grant $66k–$17M; Series C $50M–$50M; Debt Financing $2.5M–$20M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • SupaMoto — Supamoto is a social enterprise that aims to provide clean energy solutions. The company's main product is the Supamoto cookstove, a pellet gasifier stove designed for field testing in multiple African locations. This stove is part of the company's commitment to renewable home energy. Supamoto also offers opportunities for individuals toinvest in Zambia's renewable energy sector, further promoting the use of clean energy. The company has a significant impact on the renewable energy industry, as evidenced by its various campaigns and initiatives.
  • LOCA — Get Around Like a Local with LOCA
  • Sanivation — Delivering fecal sludge treatment plants and sanitation services to secondary cities and #refugeecamps in #Kenya. #socent #waste2fuel
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bettervest GmbH
VC Fund · Frankfurt, Hessen, Germany · 1 investments in Zambia Energy startups

bettervest is a crowdinvesting platform that enables people to jointly invest individual sums of money – from as little as 50€ onward – in renewable energy, energy and resource efficiency projects initiated by established enterprises, NGOs and local municipalities. In return, investors benefit financially from the resulting cost and energy savings.The bettervest platform has thus opened up the energy efficiency market to private investors. With these targeted investments ecologically and economically viable energy efficiency measures are able to be implemented, leading to cost, energy and CO2 reductions.

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Investment focus

  • Industry: Social Entrepreneurship, Solar, Energy
  • Stage:Debt Financing, Venture - Series Unknown
  • Geography: Kenya, Zambia, Belgium

Investor stats

  • Total investments: 4
  • Round size: Debt Financing $100k–$1.4M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • BURN — The future of clean cooking
  • Hydrobox — Hydrobox transforms communities and empowers people using the most affordable, reliable, and sustainable power.
  • Emerging Cooking Solutions — Emerging Cooking Solutions' mission is to improve health and stop deforestation caused by poor cooking conditions in developing countries
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Energy VC funding in Zambia at a glance

Stats across 16 deals from 19 investors.

19
investors
in Zambia Energy startups
16
deals
in Zambia Energy startups
$7.1M
median round
in Zambia Energy startups
53%
lead investors
lead at least one round
25%
Grant
most common funding stage

Access all 19 VC funds in Zambia Energy startups.

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