SunFunder

SunFunder was established in 2012 by Ryan Levinson and Audrey Desiderato as a specialized finance company focused on the renewable energy sector in emerging markets. The firm carved out a niche for itself by providing debt financing to companies operating in the off-grid solar industry, addressing a critical funding gap for businesses that traditional lenders often overlooked. Over its lifespan, SunFunder successfully closed over $244 million in investments across more than 60 companies, which in turn enabled over 10 million people to gain access to clean energy and mitigated more than 1.1 million tons of CO2 emissions annually.

The company's business model centered on raising capital from accredited and institutional investors through debt funds, and then deploying that capital in the form of loans to solar enterprises in Africa and Asia. These loans were structured to meet the specific needs of the borrowers, financing everything from inventory and receivables to project and structured finance. SunFunder's typical clients were solar energy companies that provided services like solar home systems, commercial and industrial solar installations, and agri-solar solutions. A key offering was the Solar Energy Transformation Fund, which provided loans in the $1 million to $10 million range.

In a significant development for the sector, SunFunder was acquired by Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable finance, in a deal announced in June 2022 and completed in October 2022. Following the acquisition, SunFunder was rebranded as Mirova SunFunder and integrated into Mirova's private equity platform. This strategic move aimed to combine SunFunder's specialized knowledge in emerging market solar with Mirova's extensive investment capabilities to accelerate the energy transition in Africa, Asia, and Latin America. The team, post-acquisition, continued to manage the existing funds while developing new investment vehicles under the Mirova banner.

Keywords: impact investing, renewable energy finance, off-grid solar, debt financing, emerging markets, clean energy access, sustainable finance, project finance, solar home systems, Mirova