Logo FASA avec des lettres brunes, un motif de grains dorés et une courbe verte, accompagné du texte "Managed by I&P".
Logo FASA avec des lettres brunes, un motif de grains dorés et une courbe verte, accompagné du texte "Managed by I&P".
a

Follow us on

Catalyst Fund

Country / Region :

Pan-Africa

Asset class :

early-stage VC

Year of creation :

2022

Year of FASA investment :

2025

Target close :

$40M

Target portfolio :

40 SMEs, including 20 agri-SMEs

Investment ticket sizes :

$200k – $1,4M

Website :

thecatalystfund

Drapeau du Royaume-Uni à gauche, texte "UK International Development" en bleu à droite, avec les mots "Partnership", "Progress", "Prosperity" en dessous.

About the Fund

Catalyst Fund is a venture capital fund contributing to the climate resilience of vulnerable people by investing in companies led by mission-driven, local and women founders, building climate adaptation and resilience solutions to manage climate risks, adapt livelihoods, and build long-term resilience to climate impacts across Africa.

Operating across the continent, Catalyst invests in fintech for resilience (including insurtech, carbon finance, climate risk and data solutions), sustainable livelihoods (climate-smart agritech and foodtech, fishery management and aquaculture, land restoration) and climate-smart essential services (water management, cooling and cold storage, clean energy, waste management and healthcare).

Catalyst typically invests in pre-seed stage startups with a standard ticket size of $200K, as a lead-investor and provides follow-ons at seed and series A stage.

    The Fund manager

    The fund is managed by Maelis Carraro. She has 15 years of experience as an impact investor and entrepreneur working with high impact startups in emerging markets. She co-founded and managed the Catalyst Accelerator, led 60+ investments in tech startups in Africa, Asia and Latin America.

    FASA’s investment and added value

    FASA provides an investment of $5M in junior equity, alongside other active impact investors in the continent, including IFC, Trafigura, and Shell Foundation. Through this investment, FASA helps de-risk early-stage venture activity in Africa’s agri-food sector and catalyze private capital toward innovative solutions that address agricultural productivity, resilience, and inclusion. Besides, FASA will also provide a technical assistance budget to support both the fund manager and the agri-SME in the portfolio for specific technical needs.

    Beyond capital, FASA’s support enhances the fund’s capacity to reach agri-SMEs, strengthen its impact measurement framework, and connect with other ecosystem actors across I&P’s network.

    Why FASA invested?

    Catalyst Fund represents:

    • A demonstration of blended finance at work, showing how public capital can mobilize private money
    • A highly additional investment strategy and a strong track record supporting early-stage businesses growth and impact with capital and a valued venture building approach
    • A VC fund highly exposed to the agricultural sector with strong impact on livelihoods (including for small holder farmers) and promoting climate smart-agricultural value chains

    Expected Impact

    • Enhancing food security & nutrition
    • Improving livelihoods
    • Promoting climate-smart agricultural value chains

    Over the next few years, it aims to:

    • Support 40 startups, including at least 20 directly linked to agri-food systems.
    • Create and sustain thousands of jobs, especially for youth and women.
    • Drive climate resilience and adaptation through digital innovations improving access to inputs, markets, and finance.

    The top 3 in management

    Maelis Carraro

    The fund is managed by Maelis Carraro. She has 15 years of experience as an impact investor and entrepreneur working with high impact startups in emerging markets. She co-founded and managed the Catalyst Accelerator, led 60+ investments in tech startups in Africa, Asia and Latin America.

    Maxime Bayen

    The operating manager is Maxime Bayen. He has more than 15 years of experience. as an investor and venture builder in Africa, South Asia and the Middle East. He was formerly Head of Venture Building and Lead Venture Partner with the Catalyst Accelerator, and had led 20+ Venture Building engagements.

    Oluwatoyin Olubake

    Oluwatoyin Olubake is Chief Investment Officer of the fund. He has 14+ years of experience investing and advising in growth markets in Africa. He was formerly Investment Director at Novastar Ventures based in Lagos and had experience in the PE, debt investment, M&A and VC investing