Inspired Evolution Managers has announced the first closing of the Evolution III Fund. 

Evolution III Fund has received US$199.4 million fundraising from several investors namely the European Investment Bank, the AfDB, the FinnFund, the Emerging Markets Climate Action Fund, Swedfund and SIFEM (Switzerland). This fund plans to invest in utility-scale, grid-connected IPP platforms and projects, decentralized commercial and industrial private offtake opportunities, off-grid solutions and energy-as-a-service micro-grid infrastructure offerings.

It will also think about investing in growth stock in companies that develop technology for energy and resource efficiency. The fund intends to invest between ten and fifteen times overall over a five-year period.