Catalyst Fund, a pan-African venture capital fund focused on climate resilience, has completed the second close of its debut fund, bringing its total commitments to $30 million. The fund, which counts Egyptian circular economy startup Bekia in its portfolio, is backing pre-seed to Series A companies building practical solutions to climate challenges across the continent.
Quick Facts
- Fund total now at $30 million.
- Focus on African climate resilience startups.
- Portfolio includes Egypt’s Bekia.
A Pan-African Mission with MENA Footprint
Led by partners Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake, and Amolo Ng’weno, Catalyst Fund aims to invest in 40 startups building solutions in agriculture, fintech, energy, water, and mobility. The fund has already made 28 investments across 10 African markets, demonstrating a clear strategy of identifying and supporting founders who are creating scalable businesses to help communities adapt to climate change.
“Climate adaptation is one of the defining investment themes of the next decade, especially in Africa, where the need is immediate, and the entrepreneurial talent is extraordinary,” said Maelis Carraro, Founder & General Partner at Catalyst Fund.
Strong Backing from Global Institutions
The second close attracted a mix of prominent investors, including IFC, FASA, Shell Foundation, Trafigura Foundation, Speedinvest, and Blink Impact. They join early backers like FSD Africa and Cisco Foundation. The fund also brought in the Women Entrepreneurs Finance Initiative (We-Fi) to help grow its pipeline of women-led companies.
“Through IFC’s partnership with Catalyst Fund, we are mobilising capital and expertise to help these early‑stage ventures scale sustainably, attract private investors, and deliver lasting impact for people and markets,” stated Farid Fezoua, Global Director for Disruptive Technologies, Services, and Funds at IFC.
Jonathan Berman, CEO of Shell Foundation, added, “Climate shocks are already a reality for millions of people across Africa and founders building adaptation solutions urgently need access to the right kind of early support. Catalyst Fund backs entrepreneurs early and works alongside them to turn proven ideas into scalable businesses.”
Venture Building Beyond Capital
Catalyst Fund distinguishes itself with a hands-on, company-building model. The firm works directly with founders, providing embedded support from BFA Global to help with strategy, product development, hiring, and follow-on fundraising. This approach is designed to align incentives and offer the practical guidance often missing in early-stage investing.
“We chose Catalyst Fund because their investment strategy and their embedded venture-building model perfectly address the critical gaps faced by early-stage climate entrepreneurs,” explained Mamadou Ndao, Investment Director at FASA.
Spotlight on Egypt: Bekia’s Circular Economy Model
The fund’s investment in Bekia highlights its thesis in action within the MENA region. The Egyptian startup operates a tech-enabled circular economy platform that connects waste producers, including households and businesses, with collectors and recyclers. This model creates a profitable, closed-loop system for managing waste, showcasing the type of practical and scalable business Catalyst Fund is built to support.
Alongside Bekia, other portfolio companies include Kenya’s Keep It Cool, which is building solar-powered cold-chain infrastructure, and Tanzania’s MazaoHub, an agritech using AI-powered soil intelligence to help smallholder farmers. The fund expects to reach its final close later this year.
About Catalyst Fund
Catalyst Fund is a pan-African venture capital fund and venture builder that invests in and supports early-stage startups building climate resilience solutions. From pre-seed to Series A, the fund provides equity investment paired with hands-on venture-building support to help founders scale businesses across agriculture, food systems, energy, water, and other climate-focused sectors.
Source: Wamda
