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Hogan Lovells advises Persistent in $10M equity round to grow climate venture building in Africa
Press releases
| 13
July
2022
Denver, CO, 13 July 2022 – Global law firm Hogan Lovells represented Persistent Energy Capital LLC in connection with its US$10 million Series C capital raise. The raise was led by Kyuden International Corporation and FSD Africa Investments and will enable Persistent to continue its mission of growing climate venture businesses in Africa.
This is Persistent’s third capital raise since its founding. This raise will allow Persistent to strengthen its team across Sub-Saharan Africa and scale its climate venture business, potentially improving 2.0 million people’s lives, creating 6,000 jobs and avoiding 700,000 tons of CO2 emissions. Read more on the deal at Persistent.
The Hogan Lovells team was led by a Denver corporate team of partner Matthew Eisler, senior associate Ben Shellhorn and associates Brittney Bennet, Christiana Fell and Emily Gibson. The team was supported by New York tax partner Mark Weinstein and a Washington, D.C.-based investment funds team of partner Bryan Ricapito, associate Pablo Gardea and investment funds operations manager Kevin Lees.
This is another successful closing for companies investing in Africa from the same Denver-based corporate team, which has supported a variety of capital raises, spin-off and other transactions across the continent.