$30M Fund Backs Africa's Climate Tech Startups

Catalyst Fund just secured $30 million to invest in African entrepreneurs building real solutions to climate challenges, marking a major vote of confidence in the continent's green technology sector.

The fund supports startups creating practical tools for climate adaptation, from solar-powered refrigeration for farmers to waste recycling platforms. With this second funding round complete, Catalyst Fund is now three-quarters of the way to its $40 million goal.

The timing signals a turnaround for African climate tech. After funding dropped to $754 million in 2024, investment rebounded to $1.1 billion by late 2025, showing that investors increasingly see both profit potential and planet-saving impact in these ventures.

Led by partners Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake, and Amolo Ng'weno, the fund has already backed 28 startups across 10 African countries. These companies are tackling everything from helping fish farmers keep their catch fresh to connecting waste producers with recyclers.

Major institutions joined this funding round, including the International Finance Corporation, Shell Foundation, and the Women Entrepreneurs Finance Initiative. Their support will help the fund reach more women-led startups and expand into new markets.

Catalyst Fund writes checks of around $200,000 to help companies get started, then saves money to support the best performers as they grow. The approach focuses on Nigeria, Kenya, Egypt, and Tanzania, where climate tech ecosystems are developing fastest.

The Ripple Effect

What makes this fund different is the hands-on help that comes with the money. Startups get support with hiring, product strategy, and fundraising, addressing the operational gaps that often sink early-stage companies.

The portfolio shows what's possible when innovation meets urgent need. MazaoHub in Tanzania helps farmers access markets, while Keep It Cool in Kenya builds solar-powered cold storage that prevents food waste and protects farmer incomes.

"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 Carraro.

The fund proves climate investing has moved beyond feel-good impact stories. These startups are building profitable businesses while strengthening livelihoods, expanding access to essential services, and creating quality jobs in underserved communities.

As Africa faces some of the world's most severe climate impacts despite contributing least to the problem, local entrepreneurs are stepping up with solutions that work for their communities. Now they have the capital and support to scale those solutions across the continent.