Catalyst Fund, a pre-seed venture capital fund and accelerator focused on driving climate resilience innovation in Africa, has announced the successful first close of its targeted US$40 million fund, with over 20 per cent committed. Catalyst Fund has garnered significant backing from investors including FSD Africa, FSDAi, Cisco Foundation, USAID Prosper Africa, and seasoned tech investor Andrew Bredenkamp, all of whom share its mission to enhance the reach and impact of pre-seed companies at the forefront of building a climate-resilient future in Africa. The fund will support 40 pre-seed startups, with a focus on backing mission-driven local and women founders, offering essential early-stage capital and pairing it with hands-on, tailor-made venture building support to accelerate startups’ growth. The fund’s commitment extends beyond the initial stage, as it pledges to provide follow-on capital to startups in their seed and Series A rounds. By bridging this critical funding gap, the Catalyst Fund addresses a key bottleneck for climate ventures in Africa, positioning them for further growth-stage funding at Series B.
SOURCE: DISRUPT AFRICA