Lightrock launches $500 million Accelerate7 fund for energy access in emerging markets

London-headquartered Lightrock has launched Accelerate7, a $500 million fund aimed at backing businesses expanding access to energy and clean cooking solutions across emerging markets.

The fund will invest in growth-stage companies in Sub-Saharan Africa, South Asia and Southeast Asia, with initial investments ranging from $10 million to $50 million.

Accelerate7 will focus on sectors including electricity access, clean cooking, electric mobility and energy storage. Deployment in Southeast Asia will be supported by Singapore-based TRIREC, which is partnering with Lightrock on the strategy.

The fund has already invested in SolarSquare, Sun King, Euler Motors and ATEC Global.

More than 660 million people globally still lack access to electricity, while around 2.1 billion rely on polluting or hazardous fuels for cooking, according to SDG7 data cited by the company.

Commenting on the investment, Ademidun “Demi” Edosomwan, partner and head of energy access at Lightrock, said: “Across the Global South, access to reliable energy and modern cooking solutions remains one of the clearest drivers of economic opportunity and improved quality of life.”

He added, “With Accelerate7, we are backing businesses that have already demonstrated strong execution and are ready to scale. Our focus is on finding proven operators with resilient business models that can deliver both meaningful impact and long-term value.”

While Pal Erik Sjatil, Managing Partner & CEO at Lightrock said, “The launch of Accelerate7 is an important milestone for Lightrock, and a strong example of how our platform continues to evolve. It builds on our broader commitment to supporting businesses at the forefront of energy transition and access, while bringing together the strength of our network, our investment expertise, and the conviction of our partners. We are grateful for the trust placed in us and excited to partner with impactful businesses as they work to expand access to modern energy and clean cooking solutions.”

The fund is backed by investors and energy companies including Shell, TotalEnergies, Equinor and LGT. With the launch, Lightrock said its capital dedicated to energy transition, energy access and climate investments now totals about $2 billion.