Private‑equity firm Lightrock, spun out of Liechtenstein’s LGT Group, closed a $500 million clean‑energy fund aimed at Asia and Africa, to meet rising demand for renewable power. The Accelerate7 vehicle will back growth‑stage firms with investments ranging from $10 million to $50 million across Sub‑Saharan Africa, South and Southeast Asia. Backers include major oil majors such as Equinor, Shell and TotalEnergies, as well as LGT Group itself.

Lightrock CEO Pal Erik Sjatil said the limited partners want exposure beyond their core operations, positioning them as potential acquirers of portfolio companies. The fund targets three pillars: electricity access, clean‑cooking solutions and low‑carbon technologies like electric mobility and energy storage. Singapore‑based TRIREC will help source deals in Southeast Asia, widening the fund’s regional reach and leverage local financing partnerships.

Accelerate7 has already deployed capital into four companies: rooftop‑solar installer SolarSquare, off‑grid provider Sun King, electric‑vehicle maker Euler Motors and IoT‑enabled clean‑cook‑stove firm ATEC Global. By plugging an equity gap that traditional debt markets leave wide open, Lightrock hopes to accelerate progress toward UN Sustainable Development Goal 7 and deliver tangible returns for its strategic investors in markets where grid reliability is low.