Catalyst Fund, the pan-African venture fund and venture builder backing founders from pre-seed to Series A, has announced a US$30 million second close, bringing it closer to its target and adding fresh momentum to its mission of strengthening climate resilience across the continent.
Catalyst Fund is a pre-seed VC fund and accelerator backing high-impact tech startups that seek to improve the resilience of underserved, climate-vulnerable communities. It partners with mission-driven founders that share our vision of a world where every individual has the tools and opportunities they need to thrive.
Until 2023, the organisation offered grant capital to selected startups, but it has since switched to an equity-based model. Its first close of that fund was in September 2023, and the second close brings together IFC, FASA, Shell Foundation, Trafigura Foundation, Speedinvest, BlinkCV, and a group of high-net-worth individuals, joining early backers FSD Africa, Cisco Foundation, and others who validated the thesis at first close. Catalyst Fund expects to reach final close later this year.
“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.
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