October 2025: Evolution III Fund, Inspired Evolution’s dedicated next-generation energy transition fund, has signed transaction agreements committing USD 20 million to Cold Solutions East Africa Holdings Limited (CSEAHL), a leading temperature-controlled warehousing and logistics platform operating across Kenya, Uganda, Rwanda, and Tanzania.
The investment will support the development and construction of modern cold-chain infrastructure throughout East Africa, helping to reduce post-harvest losses, strengthen food systems, enhance food security, and drive energy and resource-efficient growth in the region. CSEAHL is an investment vehicle owned by the ARCH Cold Chain Solutions East Africa Fund (CCSEAF), which is managed by ARCH Emerging Markets Partners Limited (ARCH). African Rainbow Capital Proprietary Limited, through its subsidiary ARC Guernsey Limited, is the controlling shareholder of ARCH.
Anthony Ngugi, Investment Director at Inspired Evolution, commented: "It’s been a pleasure to work on this transaction, which aligns with our investment theme of resource efficiency. It’s also highly impactful – contributing directly to improved food security in East Africa by strengthening the region’s cold-chain ecosystem."
Wayne Keast, Managing Partner at Inspired Evolution, added: "Cold Solutions East Africa reflects the type of climate-resilient, scalable platform that embodies Inspired Evolution’s investment philosophy. By driving energy efficiency and sustainability into regional supply chains, this initiative tackles food waste at scale while reinforcing resilience in the face of climate change. For us, this investment is not only about growth; it is about backing businesses that deliver measurable impact — enabling smarter, more efficient, and more sustainable economies across Africa. "This investment reflects Inspired Evolution’s continued focus on climate-resilient infrastructure, food system efficiency, and sustainable development across sub-Saharan Africa.
Suki Muia, Investment Director at ARCH, commented, “We are excited to welcome Inspired Evolution to the Cold Chain strategy and look forward to collaboratively rolling out and growing the cold chain network in East Africa. The USD 20 million additional commitment to the Fund by Inspired Evolution will facilitate the roll out of the remaining 4 facilities in Kampala, Kigali, Dar-es Salaam, and Mombasa, complementing the flagship Tatu City Facility that is already operational.”
Marlene Jennings, CEO at ARCH, added, "This partnership with Inspired Evolution underscores the importance of mobilising climate-smart capital into critical infrastructure for Africa’s food systems. Cold Solutions East Africa is not only addressing post-harvest losses but also enabling farmers, businesses, and consumers to access reliable and efficient cold storage. We look forward to working closely with Inspired Evolution to accelerate the rollout of facilities that will have a lasting impact on regional trade and food security."
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About Inspired Evolution and Evolution III Fund: Inspired Evolution is a pan-African specialised climate investment manager to Evolution I, II, and III funds with over USD 500 million in capital commitments, focusing on clean energy infrastructure, energy access, and resource efficiency investments. Inspired Evolution offers a broad African footprint with strategic regional and country offices in Cape Town, London, Nairobi, Abidjan, and Mauritius.
Evolution III Fund’s investors include the European Investment Bank (EIB), the Dutch Development Bank FMO, the African Development Bank, the Finnish Fund for Industrial Cooperation (FinnFund), the Emerging Markets Climate Action Fund (EMCAF), Swedfund International AG, the Swiss Investment Fund for Emerging Markets (SIFEM), the International Finance Corporation (IFC), the Mauritius Investment Corporation (MIC), the Development Bank of Austria (OeEB), and several impact-driven HNW individuals, families and foundations. For more information, visit www.inspiredevolution.co.za.
About ARCH Cold Chain Solutions East Africa Fund: ARCH, a subsidiary of the USD 2.7 billion African investment powerhouse African Rainbow Capital, was founded in 2018 as a specialist investment advisor for emerging markets. Our mission is to support the transition to low-carbon, climate-resilient, and sustainable economies across Africa. Authorised and regulated by the UK Financial Conduct Authority, ARCH advises on investments through three key strategies; Renewable Energy, and Cold Chain Solutions and Sustainable Natural Resources.
As an award-winning platform (SuperReturn Africa 2022 & 2024), ARCH operates within a strong governance framework, emphasizing value creation and growth through a risk-adjusted approach. ESG principles are deeply embedded in its investment strategies, aligning with the United Nations’ Sustainable Development Goals (SDGs) and the Paris Agreement to drive meaningful global impact.
The ARCH Cold Chain Solutions East Africa Fund (“CCSEAF” or “Fund”) primarily aims to reduce food waste, increase food security, and promote economic development across Africa. According to The Food and Agriculture Organization estimates, post-harvest losses in Sub-Saharan Africa range from 40-60%, largely due to inadequate storage and transportation, with 37% of losses occurring during handling and storage. The Fund is focused on creating state-of-the-art, temperature-controlled storage facilities throughout East Africa, complemented by a fleet of refrigerated trucks to ensure end-to-end cold chain management for both local and long-distance routes.
The Fund reached final closure in May 2022, and its flagship project, the Tatu City Facility, was completed in July 2023. CCSEAF is actively expanding into other East African countries, including Rwanda, Uganda, and Tanzania, with plans to establish similar facilities to bolster regional trade and exports. For more information, visit www.archempartners.com.
