Catalyst Fund reaches $30m second close
Catalyst Fund has reached the second close for its Catalyst Climate Resilience Fund I.
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Pan-African venture fund and venture builder Catalyst Fund has reached the second close for its Catalyst Climate Resilience Fund I, securing $30 million in total commitments to back founders building climate tech solutions in Africa.
Investors in the second close include International Finance Corporation (IFC), Financing for Agricultural SMEs in Africa (FASA), Shell Foundation, Trafigura Foundation, Speedinvest, Blink Impact, and several high-net-worth individuals, which join first-close backers such as FSD Africa and Cisco Foundation.
“Climate adaptation is one of the defining investment themes of the next decade, especially in Africa, where the need is immediate, and the entrepreneurial talent is extraordinary. This second close allows us to double down on our mission: backing ambitious founders building practical, scalable solutions for a climate-changed world, and supporting them not just with capital, but with the hands-on venture-building support they need to grow,” said Maelis Carraro, founder and general partner of Catalyst Fund.
“Across Africa, entrepreneurs supported through Catalyst Fund are strengthening livelihoods, expanding access to essential services, and creating quality jobs in underserved communities. Through IFC’s partnership with Catalyst Fund, we are mobilising capital and expertise to help these early‑stage ventures scale sustainably, attract private investors, and deliver lasting impact for people and markets,” noted Farid Fezoua, global director for disruptive technologies, services, and funds at the IFC.
“FASA’s mission is to reduce the funding gap faced by agri-SMEs in Africa by mobilising catalytic capital, empowering investment managers, and fostering a supportive ecosystem. We chose Catalyst Fund because their investment strategy and their embedded venture-building model perfectly address the critical gaps faced by early-stage climate entrepreneurs. Beyond our $5 million junior equity investment to derisk the fund and unlock additional funding from co-investors, we are committed to providing targeted technical assistance to strengthen the fund’s capacities and support its most promising agri-startups,” commented Mamadou Ndao, investment director at FASA.
“Climate shocks are already a reality for millions of people across Africa and founders building adaptation solutions urgently need access to the right kind of early support. Catalyst Fund backs entrepreneurs early and works alongside them to turn proven ideas into scalable businesses. We’re pleased to support this second close and help channel more capital to founders addressing critical climate resilience needs,” said Jonathan Berman, CEO of Shell Foundation.
“We are proud to make our first impact investing commitment through Catalyst Climate Resilience Fund I, backing bold African founders building the adaptation solutions that vulnerable communities need most. By investing in the junior tranche, we aim to be catalytic, helping unlock additional capital into a space that is critical, yet chronically underfunded,” said Dario Soto-Abril of Trafigura Foundation.
“Backing a first-time strategy early is where catalytic capital does its most important work. We committed to Catalyst Fund before first close, helping build the track record that has shown climate adaptation in Africa is investable from pre-seed to Series A, where the need is greatest, and capital is scarcest. The fund’s second close is a strong validation of that early conviction, and we’re pleased to see it attracting the broader investor base needed to scale climate adaptation investing across Africa,” noted Juliet Munro, director for early-stage finance at FSD Africa and FSD Africa Investments.
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