Tech in Africa
Catalyst Fund, managed by BFA Global added 6 top fintech investment funds into their exclusive umbrella. Four of the six were upcoming African fintech firms. The four include South Africa’s Crossfin, AHL Venture Partners from Kenya, Microtraction, and Greenhouse Capital from Nigeria. The other two fintech companies were Angel Ventures from Mexico and Asha Impact from India.
The head of growth at the Catalyst Fund, Aaron Fu, put out a statement of how the six investors are instrumental in the fintech startup landscape. He expressed optimism in their “expanded community” as they can utilize the “global reach” and “local depth” within.
Fund member benefits
The investors can choose de-risked, early-stage startups from which to invest in. Promising startups will then be fast-tracked to their accelerator program. Members who invest in the fund exclusive invites to mentor the young startups drawn from across the globe. Members also get direct access to data on industry insights in regards to fintech in emerging markets.
Some of the partners who are part of the Capital Fund’s Investment Advisory committee are Quona Capital, Grey Ghost Ventures, Accion Venture Lab, Flourish Ventures, 500 Startups, and Anthemis.
Catalyst Fund raised $15 million in January from JPMorgan Chase & Co and UK Aid to accelerate 30 fintech startups across Mexico, India, Nigeria, Kenya, India, and South Africa that were building solutions for the underserved customers. The company intends to choose 10 cohort accelerators from the countries for their 6-month early-stage fintech startup program. The five firms accepted to its latest Africa program are Kwara and PesaKit from Kenya, Meerkat, and Spoon Money from South Africa and Cowrywise from Nigeria.
