Catalyst Fund Raises $30M Second Close

Samsung Catalyst Fund has successfully completed the second close of its debut pan-African climate venture capital fund, securing $30 million in commitments. This brings the fund closer to its $40 million target, with a final close expected later this year. The fundraising round attracted new investors including International Finance Corporation (IFC), Financing for Agricultural SMEs in Africa (FASA), Shell Foundation, Trafigura Foundation, Speedinvest, Blink Impact, and the Women Entrepreneurs Finance Initiative (We-Fi), joining existing backers like FSD Africa and Cisco Foundation. Led by Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake, and Amolo Ng weno, Samsung Catalyst Fund invests in pre-seed through Series A startups focused on climate resilience solutions across Africa, spanning sectors such as agriculture, food systems, clean energy, water, mobility, and fintech. The fund plans to invest in approximately 40 startups and has already deployed capital into 28 companies across 10 African markets, including Kenya's Keep It Cool, Tanzania's MazaoHub, and Egypt's Bekia. Beyond financing, Samsung Catalyst Fund provides venture-building support to help early-stage companies overcome execution challenges and scale sustainably.