Catalyst Fund

Catalyst Fund is a pre-seed VC fund and accelerator managed by BFA Global that backs climate adaptation and resilience startups across Africa. The fund hit a $30 million second close in July 2026, with a $40 million target and LPs including IFC, FSD Africa, Cisco Foundation, Shell Foundation, Trafigura Foundation, Speedinvest, and Women Entrepreneurs Finance Initiative (We-Fi). The first close was $9 million in Q3 2023.

The fund invests $200K per company with reserved capital for follow-on rounds at seed and Series A, and each portfolio company gets 400+ hours of hands-on venture-building support from BFA Global covering product strategy, hiring, commercial growth, fundraising, and partnerships. The portfolio spans 28 companies across 10 African markets, with nine follow-on investments completed so far and a target of approximately 40 startups total.

Before launching the climate fund, Catalyst Fund ran three accelerator programmes (Inclusive Fintech, Inclusive Digital Commerce, and Assistive Technology) that accelerated 61 companies, which collectively raised $800 million+ in follow-on funding and reached 14 million+ customers, with an 86% survival rate. For every $1 invested, $86 was raised in follow-on capital.