Climate Investor Catalyst Fund Reaches $30M Second Close

BREAKING NEWSJuly 3, 2026 at 10:02 AM UTC

TLDR

Pan-African climate venture capital firm Catalyst Fund raises $30 million in commitments for its debut fund to back startups focused on climate resilience solutions in Africa.
Investors in the second close include IFC, FASA, Shell Foundation, Trafigura Foundation, Speedinvest, Blink Impact, private investors, FSD Africa, and Cisco Foundation, with support from the Women Entrepreneurs Finance Initiative for women-led startups.
Catalyst Fund invests in companies across agriculture, food systems, energy, water, mobility, and fintech, planning to support 40 startups in total, with existing investments in 28 startups across 10 African markets.

Pan-African climate venture capital firm Catalyst Fund reached the second close of its debut fund with $30 million in commitments. The fund is raising capital to back early-stage startups building climate resilience solutions across Africa.

Investors in the second close include IFC, FASA, Shell Foundation, Trafigura Foundation, Speedinvest, Blink Impact, private investors, FSD Africa and Cisco Foundation. The Women Entrepreneurs Finance Initiative also joined to support the fund’s pipeline of women-led startups.

Catalyst Fund invests from pre-seed to Series A in companies working across agriculture, food systems, energy, water, mobility and fintech. The fund plans to back 40 startups across the continent.

It has already invested in 28 startups across 10 African markets. Portfolio companies include Keep It Cool, a Kenyan solar-powered cold-chain company for fisherfolk and poultry farmers; MazaoHub, a Tanzanian startup using AI and agronomy support to improve smallholder yields; and Bekia, an Egyptian circular-economy platform connecting households and businesses with recyclers.

Catalyst Fund is led by Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake and Amolo Ng’weno. The fund combines equity investment with venture-building support from BFA Global, helping startups with strategy, hiring, partnerships, commercial growth and follow-on fundraising. A final close is expected later this year.

Key Takeaways

Catalyst Fund’s second close shows that climate adaptation is becoming a core investment theme in Africa. The continent produces less than 4% of global emissions, but faces severe risks from drought, floods, food insecurity and changing rainfall patterns. That creates demand for practical solutions in farming, energy, water, waste, transport and financial services. Catalyst Fund is betting that startups solving these problems can also become strong businesses. Its model matters because many early-stage African startups need more than capital. They often need help with operations, hiring, partnerships, customer acquisition and fundraising. By combining investment with hands-on support, Catalyst Fund is trying to reduce early execution risk. The backing from institutions such as IFC, FASA and We-Fi also shows growing interest in using blended capital to draw more private money into climate resilience. The challenge will be scale. Portfolio companies must prove they can grow revenue, attract follow-on funding and deliver measurable climate impact across different African markets.

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