Pre-seed venture capital firm and accelerator firm, Catalyst Fund has announced the successful first close of its planned $40 million fund, with over 20% committed. Catalyst Fund focuses on accelerating climate resilience innovation in Africa.
The fund has received significant support from a number of investors, including FSD Africa, FSDAi, Cisco Foundation, USAID Prosper Africa, and seasoned tech investor Andrew Bredenkamp. These investors all share the fund’s mission to expand the reach and impact of pre-seed businesses that are leading the way in creating a climate-resilient future in Africa.
The fund’s goal is to help entrepreneurs who use new ideas in technology, finance, and data to solve the biggest problems and take advantage of the biggest opportunities Catalyst Fund is accelerating sustainable green growth by strategically focusing on solutions in Agtech and fishery management, food systems, insurtech and climate finance, the cold chain, waste management, and water management.
This most recent round highlights its firm commitment to supporting early-stage entrepreneurs throughout the African continent in order to help create a future that is climate resilient. The main focus will be on finding ways to help communities become more resilient over the long term, adjust their livelihoods to climate change, and better prepare for and handle shocks.
Anne-Marie Chidzero, Chief Investment Officer of FSDAi noted that Africa has the potential to lead in climate solutions, provided it has the financing it needs. Acording to her, the firm’s goal is to help achieve this by investing in creative ideas that will help direct funding to the green economy’s under-resourced sectors.
By assisting business owners creating made-in-Africa climate-resilient solutions, Catalyst Fund will support both the green economic growth of Africa and global efforts to combat the effects of climate change.
The Catalyst Fund will provide support for 40 pre-seed firms with an emphasis on mission-driven local and female entrepreneurs. It will provide crucial early-stage cash together with hands-on, specialized venture building help to speed up the growth of startups.
The Fund’s dedication goes beyond the beginning stages as it promises to give entrepreneurs follow-on finance in their Seed and Series A rounds. The Catalyst Fund eliminates a major obstacle for climate initiatives by filling this crucial funding gap.
