A New Frontier in African Climate Innovation

Holocene, a venture capital firm focused on early-stage climate tech companies in Southern Africa, has announced the final close of its inaugural fund, Holocene Ventures Fund I (HVF1). This marks a significant milestone as the first dedicated climate technology fund for the region.

The $20 million fund has already backed 10 local startups over the past 18 months, creating more than 500 jobs and generating substantial returns. For every $1 invested by Holocene, portfolio companies have attracted $8 in follow-on capital.

“It’s clear we need to dramatically accelerate climate innovation in Africa,” said Josh Romisher, founder of Holocene. “The continent will double in size during our lifetimes, presenting both challenges and opportunities. We see this as a chance to build impactful solutions while creating lasting economic value.”

Portfolio Highlights:

• FARO: A circular economy company using technology to optimize supply chains for unused inventory.
• ScootHero: Deploying electric motorbikes and battery-swap infrastructure across South Africa.
• Yongeza: Building e-mobility solutions in Uganda.

Each investment includes at least 12 months of hands-on support from a team of specialists covering operations, revenue growth, fundraising, and grant writing. Wahlied Cole, founder of ScootHero, noted that Holocene’s value extended beyond capital: “They got in the trenches with us, providing targeted expertise when we needed it most.”

Jonathan Smit, an HVF1 investor, emphasized the fund’s commitment to both climate impact and financial returns. “Holocene isn’t just investing in companies; they’re helping build an entire ecosystem that can deliver meaningful change,” he said.

The final close signals the beginning of Holocene’s value-creation phase as it works to scale its portfolio companies toward exit opportunities. Romisher concluded, “We’ve proven that climate impact and financial returns can go hand in hand—now we need to amplify that effect across the continent.”