Holocene has announced the final close of Holocene Ventures Fund I (HVF1), which it describes as Southern Africa’s first dedicated high-growth climate technology fund, marking a milestone for the region’s emerging climate innovation ecosystem.

The fund was founded by Josh Romisher, whose experience building renewable energy businesses across Africa helped shape Holocene’s investment strategy.

After working as an investment banker at Credit Suisse and studying at Stanford Graduate School of Business, Romisher spent six years in East Africa helping build distributed solar companies ZOLA and Fenix International, which were later acquired by ENGIE Energy Access. Together, the businesses reached nearly one million customers and created more than 2,000 jobs.

Following his move to Southern Africa, Romisher identified a shortage of early-stage capital and operational support for climate technology startups. He later became Chief Executive Officer of Stellenbosch University’s LaunchLab, where he helped develop investments in climate technology ventures across Africa.

“It’s clear we need to dramatically accelerate the pace of climate innovation in Africa,” said Josh Romisher, Founder of Holocene.

“The continent will double in size, urbanise, and begin to truly consume during our lifetimes. That can be seen as an impending climate catastrophe or a massive innovation opportunity. We choose to view it as the latter.”

Since launching, HVF1 has invested in ten companies across the climate technology sector. Holocene said its portfolio companies have created more than 500 jobs and attracted follow-on investment, with every dollar invested by the fund reportedly helping to mobilise eight dollars of additional capital.

The portfolio includes circular economy company FARO, electric mobility business ScootHero and Ugandan e-mobility infrastructure company Yongeza.

“What excites me most is not just that Holocene backed us early, it's that they got in the trenches with us,” said Wahlied Cole, Founder and Chief Executive Officer of ScootHero.

“When we needed help with go-to-market, they brought in operators. When we were hitting a ceiling on capital, they helped us unlock grants and asset finance. It wasn't just capital. It was a partnership built on real understanding of what African founders need.”

Holocene’s model combines venture capital with operational support, providing portfolio companies with access to specialists in fundraising, revenue growth, grant writing and organisational development.

The firm said its team works across South Africa, the United States, Canada and Tunisia, supporting founders through key growth stages.

“I invested in Holocene because I believe climate innovation will be one of the defining challenges and opportunities of our generation, particularly in Africa,” said Jonathan Smit, an investor in HVF1.

“What stood out to me was not just the investment thesis, but the quality of the team and the hands-on way they support founders. Holocene is helping build the ecosystem and companies that can deliver meaningful climate impact while creating lasting economic value.”

According to Holocene, 60% of capital from the fund has been deployed into energy and mobility businesses, while 40% of portfolio companies have female founders or women in C-suite leadership positions.

The firm said the close of HVF1 marks the beginning of its next phase, focused on scaling portfolio companies and demonstrating that climate technology investing in Africa can generate both financial returns and measurable environmental impact.

“We’ve shown that the intersection of climate impact and financial returns is real,” said Romisher.

“The task now is to scale that proof. We live the Stanford motto: change lives, change organisations, and change the world. That's not always easy, but it is deeply meaningful.”