The Catalyst Fund says it has successfully reached its first closing with more than 20% of its targeted $40 million fund with the backing from investors such as FSD Africa, FSDAi, Cisco Foundation, USAID Prosper Africa, and tech investor Andrew Bredenkamp. Backed by investors such as JPMorgan Chase & Co and the Global Environmental Facility, Catalyst Fund aims to provide impact measurement and research support to climate innovators while facilitating partnerships through its Ecosystem Hub.
The Catalyst Fund mainly focuses in agtech, fishery management, food systems, insurtech, climate fintech, cold chain, waste management, and water management. The fund wants to expedite sustainable green growth by supporting solutions that enable communities to prepare for and manage shocks, adapt livelihoods to climate impacts, and build long-term resilience.
The fund has already committed to supporting 40 pre-seed startups, with a focus on mission-driven local and women founders. It provides early-stage capital and hands-on, tailored venture building support to accelerate startup growth. The fund has also pledged to provide follow-on capital to startups in their Seed and Series A rounds while positioning them for further growth-stage funding.
Also worth noting is Catalyst Fund’s transition from being a philanthropic startup accelerator to becoming a full-fledged venture capital fund. Over seven years of operation, the Catalyst Accelerator, with support from organizations like The Bill & Melinda Gates Foundation, JPMorgan Chase & Co, and the Mastercard Foundation, has played a crucial role in nurturing startups in Africa and other emerging markets. It has supported a total of 61 startups, with a strong focus on the African continent, including notable companies such as Wasoko, Chipper Cash, and Turaco.
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