FASA has made its first investment, committing USD 5 M to Catalyst Fund to support early-stage climate adaptation startups across Africa.

Managed by Investisseurs & Partenaires (I&P), FASA is a multi-donor fund-of-funds backed by the governments of Norway, the UK, South Korea, France, and the Small Foundation.

The investment, structured as junior equity, helped Catalyst Fund reach a 30 million first close toward its $40 million target. Catalyst Fund, led by Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake and Amolo Ngweno, invests in climate resilience, sustainable agriculture, fintech, and climate-smart services across African markets.

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