Congrats to the VC4Africa listed UpEnergy team in Uganda! The team closed a unusual debt investment deal with Global Hearthworks Foundation.
In January 2014 we profiled UpEnergy when they secured an equity investment deal of over USD 1 million and launched a unusual fundraising campaign on VC4Africa to raise USD 1 million more in debt.
UpEnergy sells clean energy products such as improved cookstoves to underserved communities in Africa. The Global Hearthworks Foundation providing the unusual debt investment deal is a non-profit organization supporting market-based enterprises focused on clean energy in developing countries.
GHWF’s support of UpEnergy will offer working capital for stock purchases and strengthen UpEnergy’s Ugandan distribution channel by allowing the company to invest in stronger partnerships and a sub-regional presence. This [...]
Source: vc4africa.biz