Catalyst Fund Closes Second Fund Close at $30 Million
To Back Climate Startups Across Africa
Published on: 3 July، 2026
- Catalyst Fund, the pan-African venture capital fund and venture builder focused on climate technology startups, has announced the successful completion of the second close of
- Catalyst Fund Closes Second Fund Close at $30 Million to Back Climate Startups Across Africa
- Backed by IFC, Shell Foundation, and Trafigura Foundation, the fund aims to invest in 40 African startups focused on climate resilience.
Catalyst Fund, the pan-African venture capital fund and venture builder focused on climate technology startups, has announced the successful completion of the second close of its climate resilience fund, bringing total capital commitments to $30 million
The milestone moves the fund closer to its target size and strengthens its mission to support startups developing scalable climate adaptation solutions across Africa
Catalyst Fund plans to invest in 40 startups, from pre-seed to Series A stages
New investors join the fund
The second close attracted a diverse group of investors, including the International Finance Corporation (IFC), FASA, Shell Foundation, Trafigura Foundation, Speedinvest, Blink Impact, and several high-net-worth individuals
The round also welcomed the Women Entrepreneurs Finance Initiative (We-Fi), which will help expand the fund’s pipeline of women-led startups. Catalyst Fund expects to reach its final close later this year
Investing in climate resilience
Catalyst Fund believes climate adaptation is becoming one of Africa’s largest investment opportunities as climate shocks continue to disrupt food systems, supply chains, energy access, and critical infrastructure
The fund focuses on startups building practical and scalable technologies that help communities and businesses adapt to climate change
“Climate adaptation is one of the defining investment themes of the next decade, especially in Africa,” said Maelis Carraro, Founder and General Partner at Catalyst Fund. She added that the new capital will allow the fund to deepen its support for ambitious founders through both investment and hands-on venture-building
Portfolio includes 28 startups
Catalyst Fund’s portfolio currently includes 28 high-growth startups operating across the climate technology ecosystem
Among them is Keep It Cool, the Kenyan startup and 2024 Earthshot Prize winner, which develops solar-powered cold-chain infrastructure for fisheries and agriculture
The portfolio also includes Tanzania’s MazaoHub, which combines AI-powered soil intelligence with agronomy support and digital market access for smallholder farmers, and Egypt’s Bekia, a circular economy platform that connects households and businesses with waste collectors and recycling partners
Beyond capital
Catalyst Fund combines venture capital with an embedded venture-building model developed in partnership with BFA Global
In addition to financing, the fund works closely with founders on product development, business strategy, commercial growth, partnerships, hiring, fundraising, and operational scaling
The model is designed to provide early-stage startups with the practical support often missing in traditional venture investing
Africa’s growing climate investment opportunity
Catalyst Fund believes climate resilience is no longer only a development challenge but also one of the continent’s most promising venture capital opportunities
As demand grows for affordable and scalable climate adaptation technologies, the fund expects the next generation of category-leading African startups to emerge from this sector, delivering both measurable impact and long-term investor returns
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