Africa : Soros Economic Development Fund commits $7 million to $70 million climate venture fund

The Soros Economic Development Fund, the impact investment arm of the Open Society Foundations established by George Soros, has committed $7 million to the Africa Climate Venture Builder Fund, a vehicle targeting African climate-tech startups. The fund, which aims to raise $70 million, will support ventures developing solutions in clean energy, sustainable agriculture and climate resilience. According to the Open Society Foundations, the initiative seeks to accelerate the creation of innovative companies capable of addressing climate challenges while supporting green economic growth across Africa.