With its $30 M second close, Catalyst Fund increases its stake in Africa’s climate resilience pioneers

With the announcement of a US$30 million second close, Catalyst Fund, a pan-African venture fund and venture builder supporting creators from pre-seed to Series A, is getting closer to its goal and giving its purpose of bolstering climate resilience throughout the continent new impetus.

High-impact tech firms that aim to strengthen the resilience of marginalized, climate-vulnerable communities are supported by Catalyst Fund, a pre-seed venture capital fund and accelerator. It collaborates with entrepreneurs who share our vision of a world in which every person has the resources and chances necessary to succeed.

The organization converted to an equity-based approach after providing grant funds to a select group of companies till 2023. In addition to early backers FSD Africa, Cisco Foundation, and others who validated the thesis at the first close, the fund’s second close brings together IFC, FASA, Shell Foundation, Trafigura Foundation, Speedinvest, BlinkCV, and a group of high-net-worth individuals. The fund’s first close was in September 2023. Later this year, Catalyst Fund anticipates closing.

“Climate adaptation is one of the defining investment themes of the next decade, especially in Africa, where the need is immediate, and the entrepreneurial talent is extraordinary. This second close allows us to double down on our mission: backing ambitious founders building practical, scalable solutions for a climate-changed world, and supporting them not just with capital, but with the hands-on venture-building support they need to grow,” said Maelis Carraro, founder and general partner at Catalyst Fund.