Catalyst Fund has secured $30 million in investor commitments after completing the second close of its latest venture capital fund, strengthening its mission to finance African startups developing solutions that help communities and businesses adapt to climate change.
The pan-African investment firm said the latest milestone moves it closer to its overall fundraising target of $40 million. The capital will be deployed into early-stage companies building technologies and business models focused on climate resilience, including sectors such as agriculture, financial services, water, energy and other climate adaptation solutions across the continent.
The fund, led by partners Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake and Amolo Ng’weno, plans to expand its investment portfolio to approximately 40 startups operating across Africa, Brandspur Brand News reports.
Catalyst Fund has built its investment strategy around supporting entrepreneurs addressing the growing impact of climate change in emerging markets, where extreme weather events, food insecurity and environmental risks continue to affect millions of people. By increasing access to early-stage financing, the firm aims to help startups scale practical innovations that improve resilience for vulnerable communities and businesses.
The latest fundraising milestone comes as investor interest in climate technology continues to grow across Africa, with development finance institutions, impact investors and venture capital firms increasing support for businesses tackling environmental challenges while promoting sustainable economic growth.
With additional fundraising still underway, Catalyst Fund expects to complete the remaining $10 million needed to reach its $40 million target, providing further resources to accelerate climate innovation and strengthen Africa’s resilience to climate-related risks.
