Finnfund has announced a US$20 million commitment to Evolution III Fund.

This investment advances several of Finnfund's strategic objectives, including increasing clean energy production and availability throughout Africa, combating climate change and making new climate finance investments totaling EUR 1 billion (US$ 1079 million) by 2030 while maintaining the investment portfolio's carbon net negative. The first closing of the Evolution III fund was managed by Inspired Evolution Managers Limited at US$ 199.4 million. To attain its target close of US$ 400 million in capital commitments, the Fund will aim for 10 to 15 investments during a 5-year investment term.