Catalyst Fund, a pan-African climate-focused venture capital fund, has completed the second close of its debut fund, bringing total commitments to $30 million, with backing from IFC, FASA, Shell Foundation, Trafigura Foundation, Speedinvest, Blink Impact, We-Fi, and private investors.
Led by Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake, and Amolo Ng'weno, the fund invests in pre-seed to Series A startups developing climate resilience solutions across agriculture, fintech, food systems, energy, water, mobility, and other climate technologies, with plans to back 40 startups across Africa.
The fund has already invested in 28 startups across 10 African markets, including Keep It Cool (Kenya), MazaoHub (Tanzania), and Bekia (Egypt), while We-Fi joined the fund to strengthen its pipeline of women-led startups.
Catalyst Fund expects to reach its final close later this year and will use the additional capital to continue combining venture funding with hands-on venture-building support to help founders scale climate resilience businesses across the continent.
Press release:
