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catalyst fundThe pre-seed VC and accelerator is backing nine early-stage climate technology startups in Africa with a $1.8 million investment to strengthen their impact and growth trajectory.
The nine startups that will benefit from this investment include Mazao Hub and Medikea from Tanzania, Earthbond, Zebra Cropbank and Scrapays from Nigeria, Keep It Cool from Kenya, NoorNation from Egypt, Thola from South Africa and Tolbi from Senegal.
In September 2023, Catalyst Fund achieved its first close, securing $8.6 million of its $40 million investment target in African climate startups. Notable investors include FSD Africa, FSDAi, Cisco Foundation, USAID Prosper Africa, and Andrew Bredenkamp.
The Catalyst Fund was established in 2016 and overseen by BFA Global to help startups access capital, talent and market opportunities. This is the fund’s second investment in an African startup tackling the challenge of climate change.
In January 2023, Catalyst Fund allocated $2 million to 10 startups focused on developing solutions for climate-vulnerable communities in Africa.
As a result, with this latest investment, Catalyst Fund’s portfolio now encompasses 19 companies operating in eight diverse markets: Kenya, Egypt, Morocco, Nigeria, Senegal, South Africa, Tanzania and Uganda. The Catalyst Fund team provides comprehensive venture building support to these startups, effectively integrating them as an extension of our own team.
These startups are actively addressing climate-related challenges in a variety of sectors, including agriculture, healthcare, energy access, and waste management.
A 2023 study found that more than 110 million Africans will face direct impacts from weather, climate and water-related disasters in 2022, resulting in economic losses of more than $8.5 billion. has become clear.
Discussing the investment, Catalyst Fund Managing Partner Maelis Carraro said the model used by the startup “helps farmers, health care providers, waste workers and small businesses withstand the effects of climate change. “We will enable effective adaptation and thereby foster economic growth.” Growth that positively impacts the climate.
Furthermore, Maxim Bayen, Managing Partner of Catalyst Funds, emphasized: [Catalyst Fund] is committed to further diversifying its portfolio across different models, climate adaptation sectors and geographic regions.
In 2022, Catalyst Fund secured a $3.5 million investment from FSD Africa to strengthen its footprint and scalability across Africa. With this funding, the aim is to develop 40 pre-seed impact ventures focused on developing solutions for marginalized and climate-vulnerable communities in Africa, while providing comprehensive venture-building support. The goal is to strengthen the
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