Catalyst Fund Closes Second Fund at $30 Million for Climate Resilience Startups
Pan-African venture fund Catalyst Fund has announced a $30 million second close for its fund. The capital infusion aims to bolster climate resilience solutions developed by African founders.
Catalyst Fund, a pan-African venture fund and builder backing founders from pre-seed to Series A, has announced a US$30 million second close for its fund. This capital infusion aims to accelerate its mission of strengthening climate resilience across the continent.
The fund invests in high-impact technology startups focused on improving the resilience of underserved, climate-vulnerable communities. Following its first close in September 2023, the second close saw the addition of investors including IFC, FASA, Shell Foundation, Trafigura Foundation, and Speedinvest, joining earlier backers like FSD Africa and Cisco Foundation.
Catalyst Fund transitioned from offering grant capital to an equity-based model in 2023 and expects to reach its final close later this year.
Maelis Carraro, founder and general partner at Catalyst Fund, stated that climate adaptation is a key investment theme for the coming decade, particularly in Africa. He indicated the fund's commitment to supporting founders building practical, scalable solutions for a climate-changed world, providing both capital and hands-on venture-building support.