Pre-seed venture capital (VC) fund and accelerator Catalyst Fund has made investments in six African climate-tech startups in the last four months, having announced a first close of its US$40 million fund in September. 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. 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 since then announced six investments. Catalyst Fund’s climate-focused fund has garnered significant backing from investors including FSD Africa, FSDAi, Cisco Foundation, USAID Prosper Africa, and seasoned tech investor Andrew Bredenkamp.

Source: The North Africa Journal February 12, 2024 15:07 UTC