Pre-seed venture capital (VC) fund and accelerator Catalyst Fund has announced investments totalling US$1.8 million in nine early-stage climate tech startups across Africa, taking its total portfolio to 19 companies driving climate adaptation and resilience on the continent.
Catalyst Fund is a pre-seed VC fund and accelerator backing high-impact tech startups that seek to improve the resilience of underserved, climate-vulnerable communities. It partners with mission-driven founders that share our vision of a world where every individual has the tools and opportunities they need to thrive.
Until a year ago, the organisation offered grant capital to selected startups, but in January 2023 it announced a US$2 million investment into 10 startups funded by a US$30 million fund anchored by financial sector development agency FSD Africa.
Focused on startups building solutions to improve the resilience of climate-vulnerable communities in Africa, Catalyst Fund in September of last year announced the successful first close of its targeted US$40 million fund, with over 20 per cent committed.
The fund, which offers US$100,000 of equity investments as well as US$100,000 of hands-on venture-building support, has now announced nine investments. Disrupt Africa revealed six of those earlier this week – Tolbi, NoorNation, Thola, Zebra CropBank, Scrapays, and Medikea – and Catalyst Fund has now confirmed those and three more.
They are Nigeria’s Earthbond, a one-stop-shop for SMEs that need financing for reliable solar energy; Kenya’s Keep It Cool, a solar cold chain solutions and e-commerce platform for the white meat value chain; and Tanzania’s Mazao Hub, an AI-powered end-to-end farm management software and soil testing services for small-holder farmers.
This marks Catalyst Fund’s second round of investments focused explicitly on startups building resilience to climate change on the African continent.
“We are thrilled to invest in these nine new ventures bringing innovative climate-smart solutions to the communities that need them most,” said Maelis Carraro, managing partner at Catalyst Fund. “Their groundbreaking models directly empower farmers, healthcare providers, waste workers, and small and medium businesses to adapt to the changes brought by climate change and drive climate positive economic growth.”
