AFRICA – Catalyst Fund, a global inclusive tech accelerator that is managed by BFA Global, has secured a US$3.5 million investment from specialist development agency FSD Africa to anchor its presence in Africa.
The funds will also scale its work as a leading accelerator and pre-seed impact fund for emerging market entrepreneurs.
“The challenge of climate adaptation is central to our core mandate of accelerating innovation that improves the resilience and livelihoods of the world’s most vulnerable communities, particularly women.”
“As a woman-led fund, we are particularly proud to share that at least 40 per cent of the founders in our portfolio will be women and at least 80 per cent local to their country of operation. We seek to both transform the lives of vulnerable households and businesses, but also to accelerate the overall innovation ecosystem.”
Juliet Munro, director of digital economy at FSD Africa, said her organisation believed that a strong, fair and accessible financial system was crucial to a sustainable future for Africa’s people and its environment.
“In particular, we believe that finance can play a major role in tackling climate-vulnerability and that by harnessing the power of fintech innovation we can help address market barriers to building out much needed climate resilience solutions,” she said.
With FSD Africa’s backing, Catalyst Fund will invest and offer hands-on venture building support to high-impact startups that improve the resilience of underserved and climate-vulnerable communities, with a goal to support 40 pre-seed impact ventures in Africa.
The accelerator will also continue to build strong innovation ecosystems by activating investors, capacity building networks, and corporate innovators to unlock capital, attract talent and share knowledge about fintech solutions tailored to those communities’ needs.