Catalyst Fund, a pre-seed venture capital fund and accelerator focused on driving climate resilience innovation in Africa, has announced the successful first close of its targeted US$40 million fund, with over 20 per cent committed. With support from JPMorgan Chase & Co and the Global Environmental Facility, Catalyst Fund also works to provide dedicated impact measurement and research support to climate innovators, share insights and learnings, and enable partnerships via its Ecosystem Hub. With a strategic focus on solutions in agri-tech and fishery management, food systems, insurtech and climate fintech, cold chain, waste management, and water management, Catalyst Fund is expediting sustainable green growth. By bridging this critical funding gap, the Catalyst Fund addresses a key bottleneck for climate ventures in Africa, positioning them for further growth-stage funding at Series B. “At FSDAi we believe strongly that Africa has the potential to lead in climate solutions provided it has the finance it needs.

Source: The North Africa Journal September 06, 2023 07:33 UTC