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Since 2017, Gaia Impact Fund has backed 3 African startups across 5 disclosed funding rounds totaling $18.5M, most heavily in Nigeria and Energy & Utilities.
Gaia Impact Fund is a French impact venture capital fund focused on decentralized renewable energy in emerging markets. It is headquartered in Paris and was created by a team of entrepreneurs specialized in renewable energy and impact investing. The fund manages dedicated vehicles such as the Gaia Energy Impact Fund II, which targets energy transition opportunities. In Africa, Gaia Impact Fund invests primarily in early and growth stage companies from seed to Series B, using equity and quasi equity instruments. Its activity includes backing energy and utilities companies such as Beacon Power Services in Nigeria and MyJouleBox in Benin, as well as a fintech company, Masunga, in Tanzania. Across these investments it has participated in seed, Series A and other venture rounds, with a geographic focus on markets like Nigeria, Benin and Tanzania and a strong concentration on energy access and utilities. Gaia Impact Fund’s strategy is centered on expanding access to electricity and supporting energy transition solutions for communities and businesses with limited or no grid access, mainly in Africa. Through its specialized funds it targets sectors including energy access, distributed energy, productive use of energy and related technologies, aiming to combine high growth potential with measurable social and environmental impact.
Data updated · Aug 2, 2026
Gaia Impact Fund has backed 3 African startups across 5 disclosed funding rounds tracked on Liners, totaling $18.5M since 2017.
Mostly Series A: 2 of its 5 tracked rounds are at that stage, followed by Seed (1).
Its tracked rounds lean toward Energy & Utilities (4), Fintech (1).
Gaia Impact Fund most often shares rounds with Proparco (2 shared deals), Global Brain Corporation (2 shared deals), Kaleo Ventures (2 shared deals).
Gaia Impact Fund has backed Beacon Power Services in Nigeria, MyJouleBox in Benin and Masunga in Tanzania, among other portfolio companies. These investments reflect its focus on energy access, grid operations tools and impact driven fintech solutions serving emerging markets.