The Catalyst Fund, a pre-seed venture capital fund and accelerator, has invested in six African climate-tech startups in the past four months following the initial closing of its $40 million fund last September.
As a pre-seed VC fund and accelerator, Catalyst Fund supports transformative tech startups aimed at enhancing the resilience of underserved, climate-vulnerable populations. The fund collaborates with founders committed to creating accessible tools and opportunities for global communities to prosper.
Previously providing grant capital, Catalyst Fund shifted strategy in January 2023, investing $2 million into 10 startups from a $30 million fund, primarily backed by FSD Africa. This move underscores its focus on startups developing solutions for climate-vulnerable communities in Africa.
Following the successful first close of its targeted $40 million fund in September, with over 20% already committed, the fund has revealed investments in various startups, including Tolbi, a pan-African climate-agtech venture leveraging satellite imagery and AI for climate-smart agriculture; and NoorNation, an Egyptian firm offering decentralized solar energy and water solutions for farming businesses and marginalized communities. Each investment includes $100,000 in equity and an additional $100,000 in direct venture-building support.
In December, Catalyst Fund invested in Thola, a South African startup aiming to democratize access to certifications, thereby enabling SMEs to foster climate resilience and food safety, transforming compliance from a barrier to a benefit.
Following this, in January, the fund supported Zebra CropBank from Nigeria, offering climate-smart solutions to address the complex challenges faced by smallholder farmers. Additionally, it invested in Nigeria’s Scrapays, a waste management startup that facilitates the creation of mini-waste enterprises by individuals and small businesses.
Recently, Catalyst Fund announced backing for Tanzania’s Medikea, which improves access to affordable preventative and primary healthcare, diagnostics, and compliance support for underserved Tanzanians. This initiative directly supports vulnerable communities in combating the escalating health threats.
Catalyst Fund’s climate-oriented fund has attracted substantial investment from a variety of backers, including FSD Africa, FSDAi, the Cisco Foundation, USAID Prosper Africa, and notable tech investor Andrew Bredenkamp.
