Orrick advised SunFunder, a private debt management company that finances renewable energy projects in Africa and Asia, on its acquisition by Mirova, an affiliate of Natixis Investment Managers. Financial terms were not disclosed.
Founded 10 years ago as a crowdfunding platform, SunFunder's objective was to offer financing solutions for the decentralized solar energy sector in Africa, in order to achieve direct impact at the intersection of climate change and inequality. Since then, the company has launched a series of innovative blended finance investment vehicles and closed over $165 million in investments across 58 companies deploying clean energy in Africa and Asia.
Mirova’s expertise will strengthen SunFunder’s investment and execution capabilities for its private assets strategies. Mirova and SunFunder’s first objective is to launch a solar energy debt financing fund, with an investment capacity of $500 million through about 70 projects spread over Africa, Asia and Latin America.
The Orrick team advising SunFunder was led by Matthew Gemello, Soo Lim and Anika Nayyar.