A Catalyst for Change
Catalyst Fund, a pre-seed venture capital (VC) fund and accelerator, has been making waves in the African startup ecosystem by backing six climate-tech startups in the past four months. With its US$40 million fund, Catalyst Fund is driving impactful investments in startups that aim to enhance the resilience of underserved communities vulnerable to climate change.
Driving High-Impact Innovation
At the core of Catalyst Fund's mission is the support for high-impact tech startups that strive to empower climate-vulnerable communities. Through strategic partnerships and investments, Catalyst Fund endeavors to create a world where every individual has access to the tools and opportunities necessary for prosperity.
Evolution of Funding: From Grants to Investments
Formerly focused on providing grant capital to selected startups, Catalyst Fund shifted its approach in January 2023 by announcing a US$2 million investment into 10 startups, funded by a US$30 million fund anchored by the financial sector development agency FSD Africa. This shift reflects a commitment to driving sustainable impact through strategic investments.
Targeted Investments: Building Climate Resilience
Catalyst Fund's targeted investments aim to bolster the resilience of climate-vulnerable communities in Africa. In September of last year, the fund announced the successful first close of its US$40 million fund, with over 20% committed. Since then, it has announced six investments, each focusing on innovative solutions addressing climate challenges.
Spotlight on Impactful Startups
Among the startups backed by Catalyst Fund are Tolbi and NoorNation, pioneers in climate-smart agriculture and decentralized solar energy solutions, respectively. Other investments include Thola, Zebra CropBank, Scrapays, and Medikea, each offering unique solutions to overcome challenges faced by smallholder farmers, waste management, and healthcare accessibility.
Support and Backing: A Collaborative Effort
Catalyst Fund's climate-focused fund has received significant backing from investors such as FSD Africa, FSDAi, Cisco Foundation, USAID Prosper Africa, and seasoned tech investor Andrew Bredenkamp. This collaborative support underscores the importance of collective efforts in driving meaningful change and innovation in Africa's startup ecosystem.
Pioneering Climate Innovation
As Catalyst Fund continues to catalyze investments in climate-tech startups, it remains at the forefront of driving impactful change in Africa. With a focus on resilience and sustainability, Catalyst Fund's investments are poised to make a significant difference in the lives of underserved communities, paving the way for a more resilient and prosperous future.