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Top 10 Impact VC Funds & Investors in Zambia (November 2026)

The most active venture capital funds investing in Zambia Impact startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Zambia Impact startup companies. Find investors to raise a Seed, Private Equity 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, Venture - Series Unknown, Series A Energy, Solar, Renewable Energy $114k–$30M
InfraCo Africa
VC Fund
1 Kenya, India, France Seed, Series B Renewable Energy, Solar, Energy $1.5M–$28M
Opes Impact Fund
VC Fund
1 Italy, Kenya, India Venture - Series Unknown, Seed Communities, Agriculture, Energy $257k–$910k
GreenTec Capital Partners
VC Fund
1 Kenya, Nigeria, Morocco Seed, Venture - Series Unknown, Pre-Seed Logistics, Information Technology, Retail $50k–$1M
EDFI Management Company
VC Fund
1 Ghana, Zambia, Benin Debt Financing, Seed, Series B Renewable Energy, Energy, Solar $2M–$15M
Impact Fund Denmark
VC Fund
1 India, Kenya, France Venture - Series Unknown, Private Equity Energy, Financial Services, Renewable Energy $1.8M–$250M
Danish Investment Fund for Developing Countries
VC Fund
1 France, Zambia, Myanmar Venture - Series Unknown, Private Equity Energy, Renewable Energy, Water $5M–$16M
Private Infrastructure Development Group
VC Fund
1 Kenya, Zambia, Senegal Grant, Debt Financing, Series B Energy, Renewable Energy, Solar $66k–$20M
Kukula Capital
VC Fund
1 Zambia, United States Seed, Private Equity Finance, Financial Services, Advice
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Investor list

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

Built for the next century of the global industrial renaissance.

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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 Impact startups

Impact investment in sustainable energy

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Investment focus

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

Investor stats

  • Total investments: 68
  • Round size: Series A $2.2M–$30M; Debt Financing $114k–$10M; Venture - Series Unknown $1.6M–$16M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • BURN — Experience clean, safe, and affordable cooking with BURN's innovative cookstoves. Impact lives, reduce emissions, and enjoy delicious meals. Shop now!
  • GOGO Electric — GOGO Electric offers lithium-ion battery production, e-mobility solution and lithium-ion battery recycling services.
  • MyJouleBox — MyJouleBox offers a solution for solar professionals in Africa to offer leased solar installations to their customers.
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InfraCo Africa
VC Fund · London, England, United Kingdom · 1 investments in Zambia Impact 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 — Afresco is Africa's fastest growing clean energy service company (ESCO) that leverages our expertise in mini-grids, C&I solar and large-scale IPPs to power businesses and optimize energy needs. Specialties: Energy efficiency, Solar energy, Energy production, Energy storage, Energy management, ESCO, and Smart Buildings
  • 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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Opes Impact Fund
VC Fund · Milano, Lombardia, Italy · 1 investments in Zambia Impact 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: 44
  • Round size: Seed $257k–$910k
  • Lead/follow: 27% lead, 73% 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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GreenTec Capital Partners
VC Fund · Frankfurt, Hessen, Germany · 1 investments in Zambia Impact 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, Venture - Series Unknown, Pre-Seed
  • Geography: Kenya, Nigeria, Morocco

Investor stats

  • Total investments: 25
  • Round size: Pre-Seed $50k–$1M
  • Lead/follow: 80% lead, 20% 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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EDFI Management Company
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Zambia Impact 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 investors have 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, Seed, Series B
  • Geography: Ghana, Zambia, Benin

Investor stats

  • Total investments: 11
  • Round size: Seed $2M–$2.9M; Series B $7M–$15M; Debt Financing $3.3M–$9M
  • Lead/follow: 55% lead, 45% follow

Portfolio highlights

  • Sawa Energy — Sawa energy is an affordable, predictable solar electricity solution to power Rwandan businesses with clean and renewable energy.
  • Vitara — Vitara (formerly Sommalife) partners with women small-scale farmers in West Africa to supply traceable, high-quality shea and agro-commodities to global food and cosmetic manufacturers.
  • Good Nature Agro — Good Nature Agro works with small-scale farmers to grow high-value legumes, improve farmer incomes, and connect producers to premium markets.
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Impact Fund Denmark
VC Fund · Copenhagen, Hovedstaden, Denmark · 1 investments in Zambia Impact startups

Investeringsfonden for udviklingslande

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Investment focus

  • Industry: Energy, Financial Services, Renewable Energy
  • Stage:Venture - Series Unknown, Private Equity
  • Geography: India, Kenya, France

Investor stats

  • Total investments: 37
  • Round size: Private Equity $35M–$250M; Venture - Series Unknown $1.8M–$34M
  • Lead/follow: 54% lead, 46% follow
  • Last fund: Likely still investing — raised $800M in 2023

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 energy solutions help decarbonize enterprise by providing cleaner, cheaper, and more reliable power.
  • Arohan Financial — Arohan is one of the few NBFC-MFIs in India to offer loans ranging from INR 10000 to as high as INR 100 lakh. It works with strong, local partners on the ground to further improve its reach in the remotest locations of its focus low-income geographies. Arohan also offers financial safety net products such as and non-financial products to itscustomers at affordable costs.
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Danish Investment Fund for Developing Countries
VC Fund · 1 investments in Zambia Impact startups

Danish Investment Fund for Developing Countries

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Investment focus

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

Investor stats

  • Total investments: 4
  • Round size: Venture - Series Unknown $5M–$16M
  • 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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Private Infrastructure Development Group
VC Fund · London, England, United Kingdom · 1 investments in Zambia Impact 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 B
  • Geography: Kenya, Zambia, Senegal

Investor stats

  • Total investments: 10
  • Round size: Grant $66k–$17M; Debt Financing $2.5M–$20M
  • Lead/follow: 70% lead, 30% follow

Portfolio highlights

  • LOCA — Get Around Like a Local with LOCA
  • Sanivation — Sanivation really has its beginnings from 2006, when Emory approached Georgia Tech looking for a toilet that would be more reliable in treating human fecal sludge. Ideas for a solar toilet were tossed around, and prototypes were built in Bolivia in 2007 and 2008. Work continued through GTRI and Engineers Without Boarders on various iterations ofthe prototypes. In 2011 a group of Georgia Tech and Emory students and recent graduates submitted an application to Start-Up Chile (a business incubator) to begin an organization based on solar sanitation. In July 2011, 5 Tech students moved to Chile to work full time on solar sanitation. Initial prototypes went well, and the team designed service models to create a more viable business model.
  • East Africa Fruits — EA Fruits Farm is a business that engages in the large production and distribution of fruits and vegetables. As fruits are an essential part of a human's diet for maintenance of good health and wellbeing, the business will take part in providing the opportunity for Tanzanian citizens and other people overseas to get such fruits and motivatemore people to increase their intake of fruits whereby the company will strive to increase the supply to match the increased demand for fresh fruits and vegetables. The business envisions to be among the leading producers, distributors, and exporters of the fruits within the Country and overseas. The company is a highly profitable and viable business that expects to rise to about 5,000 USD from its current small-scaled operations, while more than 450,000 USD will be raised as a result of further expansion within a period of 2-4 years.
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Kukula Capital
VC Fund · Lusaka, NA - Zambia, Zambia · 1 investments in Zambia Impact startups

Kukula Capital is a leading venture finance and private equity firm in Zambia. The company operates under two main business areas: Fund Management and Advisory. They act as fund manager to their two venture funds: Kukula Fund I and Kukula Seed Fund. Through the funds, Kukula Capital invests in Zambian growth companies with capital and expertise. With offices in Lusaka and Solwezi they have a strong local understanding and network which enables Kukula to identify companies with attractive long-term growth prospects, securing a strong deal flow. Their aim is to build a diversified portfolio of investments and provide exceptional financial and social returns for their investors whilst creating long-term value for the portfolio companies. Through their advisory services, they enable investors to invest alongside Kukula Fund investments and allow international companies to penetrate the Zambian market. The name Kukula is associated with growth in the local dialects of Zambia. Kukula Capital is a Joint Venture between Danish and Zambian partners and was founded in 2009. The company is regulated by the Securities and Exchange Commission of Zambia

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Investment focus

  • Industry: Finance, Financial Services, Advice
  • Stage:Seed, Private Equity
  • Geography: Zambia, United States

Investor stats

  • Total investments: 7
  • Lead/follow: 43% lead, 57% follow

Portfolio highlights

  • Inde Credit — Business Finance Solutions for Zambian SMEs. We help Zambian SMEs and other businesses providing goods and services in the mining, transportation, construction, manufacturing, agriculture and other related sectors.
  • Dot Com Zambia — Leading technology company in electronic tolling, payment infrastructure, and innovative solutions powering Zambia's connected economy.
  • Eagle Metal Fabrication — Eagle Metal Fabrication offers metal fabrication and machining services.
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Impact VC funding in Zambia at a glance

Stats across 17 deals from 21 investors.

21
investors
in Zambia Impact startups
17
deals
in Zambia Impact startups
$10M
median round
in Zambia Impact startups
43%
lead investors
lead at least one round
29%
Grant
most common funding stage

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