London-based investment platform Lightrock has announced the launch of Accelerate7, a new initiative backed by the final close of a $500 million fund. This platform will invest in growth-stage companies across Sub-Saharan Africa, South Asia, and Southeast Asia to advance United Nations Sustainable Development Goal 7. The fund is supported by prominent investors including Equinor, Shell, TotalEnergies, and LGT, bringing Lightrock's total climate-related assets to approximately $2 billion.
Addressing a Global Energy Deficit
The initiative directly targets the critical challenge of global energy poverty, a major barrier to economic and social progress. Over 660 million people worldwide still lack access to electricity, while an estimated 2.1 billion people depend on polluting and hazardous fuels for cooking. Through Accelerate7, Lightrock aims to support businesses that can effectively scale solutions to close this significant energy gap.
Strategic Investment Focus
Accelerate7 will deploy capital with initial investments typically ranging from $10 million to $50 million per company. The strategy concentrates on three core sectors: expanding access to electricity, promoting clean cooking solutions, and developing enabling technologies such as electric mobility and energy storage. For its Southeast Asia operations, the platform will partner with the Singapore-based firm TRIREC to further its mission.
The fund has already begun its investment activities, backing four innovative companies that align with its mission. These initial investments include SolarSquare, a rooftop solar system provider, and off-grid solar energy company Sun King. The portfolio is further diversified with Euler Motors, an electric vehicle manufacturer, and ATEC Global, a provider of IoT-enabled clean cookstoves.
Leadership and Vision
The platform will be led by Demi Edosomwan, Partner and Head of Energy Access at Lightrock. She highlighted the personal dimension of this work, noting that energy poverty disproportionately affects women and girls who bear the burden of fuel collection and exposure to hazardous fumes. This focus underscores the fund's commitment to generating profound social and economic co-benefits alongside financial returns.
Lightrock's leadership emphasized that the fund will back businesses with proven operational track records and resilient business models. Pal Erik Sjatil, the firm's CEO, described the launch as a significant milestone that builds on Lightrock's broader commitment to the energy transition. The goal is to partner with impactful companies that can deliver both long-term value and expanded access to modern energy.
A Platform for Impact and Growth
Beyond providing capital, Lightrock will offer extensive support to its portfolio companies to amplify their success. This includes access to a proprietary impact measurement and management framework, a dedicated technical assistance facility, and guidance from specialist professionals. Each company will report regularly on its contributions toward achieving SDG 7, ensuring accountability and transparency.
The current global energy crisis has only intensified the need for resilient and distributed energy solutions, creating a strong pipeline for the fund. Lightrock maintains a clear focus on exit strategies from the outset, considering pathways such as secondary sales and acquisitions by strategic buyers. In markets with deep public markets like India, local listings also represent a viable option for its portfolio companies.
The launch of the $500 million Accelerate7 fund marks a significant commitment by Lightrock to tackling global energy poverty. By investing in scalable and impactful businesses, the platform is poised to improve the quality of life for millions while delivering attractive returns. This initiative not only strengthens Lightrock's position in the climate investment space but also aims to catalyze broader capital mobilization into this critical sector.