London-headquartered private equity firm Lightrock has launched a $500 million fund focused on scaling up companies working on energy access and clean cooking solutions.
Accelerate7 will invest in growth-stage companies across South Asia, Southeast Asia and Sub-Saharan Africa, with cheque sizes ranging between $10 million and $50 million, it said in a statement. The fund will focus on sectors such as electricity access, clean cooking, electric mobility and energy storage.
Accelerate7 has already invested in SolarSquare, which provides residential rooftop solar systems; Sun King, known for solar-powered energy products in emerging markets; Euler Motors, which builds electric commercial vehicles; and ATEC Global, a company focused on clean cooking and biodigester solutions.
“Across the Global South, access to reliable energy and modern cooking solutions remains one of the clearest drivers of economic opportunity and improved quality of life,” said Ademidun Edosomwan, partner and head of energy access at Lightrock. “With Accelerate7, we are backing businesses that have already demonstrated strong execution and are ready to scale.”
The fund is backed by investors and energy companies, including Shell, TotalEnergies, Equinor and LGT. Lightrock said the launch takes its overall climate, energy transition and energy access-focused capital to nearly $2 billion.
Pal Erik Sjatil, managing partner and chief executive officer of Lightrock, said the launch of Accelerate7 reflects the firm’s broader push towards energy transition and climate-focused investments.
Accelerate7 will invest in growth-stage companies across South Asia, Southeast Asia and Sub-Saharan Africa, with cheque sizes ranging between $10 million and $50 million, it said in a statement. The fund will focus on sectors such as electricity access, clean cooking, electric mobility and energy storage.
Accelerate7 has already invested in SolarSquare, which provides residential rooftop solar systems; Sun King, known for solar-powered energy products in emerging markets; Euler Motors, which builds electric commercial vehicles; and ATEC Global, a company focused on clean cooking and biodigester solutions.
“Across the Global South, access to reliable energy and modern cooking solutions remains one of the clearest drivers of economic opportunity and improved quality of life,” said Ademidun Edosomwan, partner and head of energy access at Lightrock. “With Accelerate7, we are backing businesses that have already demonstrated strong execution and are ready to scale.”
The fund is backed by investors and energy companies, including Shell, TotalEnergies, Equinor and LGT. Lightrock said the launch takes its overall climate, energy transition and energy access-focused capital to nearly $2 billion.
Pal Erik Sjatil, managing partner and chief executive officer of Lightrock, said the launch of Accelerate7 reflects the firm’s broader push towards energy transition and climate-focused investments.
