The Catalytic Capital Consortium (C3) announced awards to support 14 research projects that will analyze the uses of catalytic capital around the world and help build the evidence base to fuel additional risk-tolerant, flexible and patient investments that address critical global challenges.
Aceli Africa is one of the 14 awardees, including universities, nonprofits and collaborations spanning seven countries. Collectively, the cohort will use the funding to study catalytic capital across diverse geographies and sectors—assessing capital gaps for entrepreneurs in Africa, housing finance bottlenecks in Eastern Europe, economic inequality and barriers to accessing capital in Indigenous communities and communities of color in the United States, financing challenges for innovations in science and engineering that promise positive global impact, and more.
A total of 87 groups based in 17 countries applied for funding in response to the C3 Grantmaking program’s public call for proposals last fall. Awards for the 14 selected research and market development projects will total $2.2 million.
Established in 2019, C3 is an investment, learning, and market development initiative created and led by the John D. and Catherine T. MacArthur Foundation, The Rockefeller Foundation and the Omidyar Network. Together, these partners jointly fund the C3 Grantmaking program, which is housed at and administered the New Venture Fund (NVF). C3 aims to increase the flow and impact of catalytic capital to make social and environmental progress that would not otherwise be possible.