Project detail - ACUMEN FUND INC.


Status: Approved investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Acumen Fund Inc. (“Acumen”) provides capital to innovative seed or early stage companies in low-income and emerging markets. Acumen will receive a grant from the Access to Energy fund (AEF) and the use of funds will be restricted to investments and non-investment activities that are part of the Pioneer Energy Investment Initiative (“PEII”) managed by Acumen.

What is our funding objective?

PEII has the goal to provide early stage investments in companies providing clean, affordable, renewable off-grid energy solutions. In April 2019, the Dutch Ministry of Foreign Affairs (“MoFA”) approved a commitment of EUR 2.5 mil (USD 2.8 mil) to PEII from the special AEF Non-Revolving Grant Budget, specifically from the EUR 5.9 mil envelope for Early Stage Investment Grants.

Why do we fund this investment?

A grant to PEII will allow AEF to support pre-VC stage companies through investment and value adding activities. This grant funding, also referred to as ‘patient capital’, targets the unserved poor without access to energy and provides AEF with an additional opportunity to strengthen partnerships, learn early stage lessons and bridge the gap between early stage grant funding and follow-on commercial risk bearing funding.

More investments

Date Total FMO financing
12/19/2019 EUR 0.50 MLN
Website customer/investment
Publication date
Effective date
Total FMO financing
EUR 2.50 MLN