Catalyst Fund

We partner with founders building a more financially inclusive world. Quona has been backing fintech companies driving financial inclusion in emerging markets since 2015. Now, the rest of the world is taking note, and fintech and embedded finance models continue to dominate venture globally. In 2021, global fintech funding reached a record $132 billion, accounting for 21% of all venture dollars. Everyone talks about impact, but few deliver numbers to back the noise. 135M lives touched: 80% of which were underserved 23.5M retail customers served: 88% of which were underserved 8.5M MSMEs served: 78% of which were underserved 25.5K jobs created by portfolio companies: 36% held by women WHAT WE’RE ABOUT It takes more than money to make a startup successful. At the heart of Quona is our sense of connection - to founders, to our investors, and to the markets we serve across the globe. When we invest, we put our global and local experience to work, helping portfolio companies maximize impact and financial returns. ACCION PARTNERSHIP Before becoming an independent venture firm in 2015, Quona got its start inside of Accion, a global nonprofit committed to creating a financially inclusive world. Today Quona and its portfolio still benefit from Accion’s global presence, institutional relationships, and deep history of impact investing in emerging markets.

The MassMutual Catalyst Funds (MMCF) I & II - a $150 million commitment to increase diversity in, and access to, venture capital and invest in innovative products and services that advance economic and social mobility. Increasing investments in underserved businesses At MassMutual, we’re committed to fueling innovation, creativity, and problem-solving to benefit the needs of all Americans. We believe this begins with creating financial opportunities where historic disparities exist. That’s why we established the MassMutual Catalyst Fund (MMCF) I & II - a $150 million commitment to increasing diversity in, and access to, venture capital and investing in innovative products and services that advance economic and social mobility. Building on the first MM Catalyst Fund launched in 2021, MMCF’s latest Fund II will scale nationally and create further impact momentum. We know the mission to increase access to capital to overlooked founders and changing the ratio of who is funded in venture capital is not an easy challenge. That's why we are expanding our focus and working with like-minded partners, particularly companies with the potential to make a significant social impact in certain areas. We will continue to focus investing in MA companies and also selectively invest alongside fund managers within the First Fund Initiative at a national level. We invest in Seed through Stage B companies. As we assess businesses, we consider not only financial return, but their potential to advance racial equity, reduce the rural-urban divide, and make an economic impact. While we are industry agnostic and focus on the founding team, we seek to invest in the following verticals: health tech, climate tech, Future of Work, and fintech. MMCF’s status quo alternatives to sourcing, screening and selecting deals, as well as supporting our portfolio companies are key to finding and funding companies in a more expansive way. Investing in diversity The Catalyst Fund is powering progress in a world where women and people of color only manage 1% of the 70 trillion of capital in the United States. We’re making an impact in across the US and in Massachusetts where only .4% of funding goes to Black founders.* We’re passionate about creating change and prioritizing companies with social impact built into their DNA. That means that as their business grows, their impact grows too. As we assess businesses, we consider not only financial return, but potential to advance social mobility and racial equity, reduce the rural-urban divide, and make an economic impact in Massachusetts and beyond. Industry agnostic and founding team driven We look for strong financial and impact return with an industry preference in the following areas: Healthcare Equity: Healthcare technologies that reduce disparities in health outcomes across the population Economic Inclusion: Availability and equality of opportunities to access financial goods and services​ Climate: Technologies that ensure the transition to clean energy is fair, inclusive and economically beneficial for all Future of Work: HR and education technologies that encourage workforce participation​ What makes our process different? Impact investing requires critical thinking, not checking boxes. We’re committed to building innovative approaches and alternatives in: Sourcing: Our online inquiry form lowers barriers to accessing our funding. Screening: We look twice - taking a consultative approach, with an emphasis on transparency and trust. Selection: We prioritize companies with scalable business models tied to social impact which comes in many shapes. That could mean removing structural barriers like access to better education or finance, or it could mean creating quality jobs in a rural area. Value Add: Our passionate team is dedicated to our entrepreneurs' success. We consult regularly with our portfolio companies at key intersections and provide strategic insight, leverage our MassMutual network, facilitate introductions to other investors and are continually expanding the ways we add value to our wide spectrum of portfolio companies. Rooted in venture. Built for impact. We like to think of the Catalyst Fund as having VC hardware and impact software - meaning, while we’re backed by MassMutual’s more than 170 years of financial strength, we’re also constantly evolving to maximize our social and economic impact. Together, our impact investing team has a total of 55 years of expertise, with backgrounds ranging from founding companies to traditional investment management to overseeing global startup accelerators.

As capital becomes a commodity with more early-stage investors flocking to Africa, what will make us stand out will be our networks, relationships, and reputations. What we look forLarge Markets: A clear market opportunity that is massive and growing, captured through a scalable business model. We aim at reaching sustainable impact across a large audience by addressing deep markets, or investing in market-creating innovations. Scalable Economics: Tech-enabled businesses with proven, highly leverageable and defensible revenues, coupled with the ability to improve unit economics through cost and capital efficiency are able to achieve top-trend growth more easily than less efficient business structures. We are disciplined in ensuring the unit economics of the business we invest in are sustainable and attractive. Strong Agile Teams: We are looking for founders that combine strategic vision and executional capacity. Strong teams tend to be bound by a cohesive, inclusive, all-hands-on deck culture. We are seeking founders and teams guided by a clear value proposition and differentiated position in the market. Repeatable Growth: Solutions with highly replicable growth models and transferable problem-solution sets can most benefit from our growth investment and market expansion facilitation. As African markets are not uniform, we carefully model and test solution-market fit. How much funding will you get? If you are an African founder of a tech enabled startup that is solving a significant African development challenge please apply here. If you have little or no revenues, we will refer you to our Angel Fund for $10k to $100k funding consideration. If you have meaningful revenues with high growth potential, we may invest $50k-$250k.

We’re Backing Africa’s Most Underserved Founders. Ennovate Ventures is a tech venture factory, investing in ambitious founders who are using their innovations to improve lives, create jobs, and accelerate sustainable development. 30+ Partners in the last 5 years. 1,287 Founders Supported, with over 300 being female founders. $1.1M deployed to founders, with $3.2M follow-on raised. 1.2M Lives Reached and 3,000+ Jobs Created by our startups.

Aduna Capital is a visionary investment firm dedicated to unlocking the transformative potential of African startups. Our mission Our mission is to empower the next generation of African innovators by providing them with the capital, guidance, and network they need to succeed. We focus on early-stage, tech-enabled startups with the potential to scale and bring about positive change. Our vision At Aduna Capital, we envision a thriving African entrepreneurial ecosystem where innovative startups have the resources they need to scale and impact the global market. We believe in the transformative power of technology and entrepreneurship to drive economic growth and improve lives across the continent. Unlocking the transformative potential of African startups through visionary investmentsInnovation: Championing cutting-edge solutions. Integrity: Upholding transparency and ethical investment practices. Impact: Committing to long-term, sustainable development. Inclusivity: Ensuring diverse representation and equitable opportunities.

We combine robust & future-proof financial returns with measurable environmental & social impact, adding high value to investors, SMEs and local communities. Our broad and sustainability-driven investor base comprises of institutional investors, funds of funds, systemic banks, domestic and international asset managers, family offices and UHNWIs, with HDBI as our anchor investor. SPOROS IS DOING WELL BY DOING GOOD. Our Team is uniquely positioned to trigger the Virtuous Circle of growth and innovation that benefits people, business and our planet. Our goal is to increase climate resilience, encourage lasting inclusive growth, eliminate waste and pollution and blend economic benefits with social and environmental good. Join us in fostering a more sustainable and circular future for businesses in our region. EMPOWERING CIRCULAR TRANSFORMATION At SPOROS, we bridge the gap between meaningful outcomes and strong financial gains. We aim to accelerate the shift towards a Circular Economy for small and medium businesses in Greece and Southeast Europe. This will boost our economy, create local jobs and regenerate our environment. SPOROS Platform takes great pride in being distinguished as the first Article 9 SFDR Fund in Greece, having sustainable investments as its core objective, fully aligned with EU Taxonomy. We are also recognized by the European Commission as the only Impact Investing Fund from Greece featured on the ECESP as a “best practice” in sustainable finance. This recognition highlights our unique contribution towards inclusive and sustainable growth. We acknowledge the responsibility that comes with this honor and strive to elevate Greece's profile as an emerging leader in transitioning towards a resilient Circular Economy and creating a better future for Europe as a whole.