Novastar Ventures closes $147 million fund for African startups
- Novastar Ventures closed its third fund, raising $147 million for the Africa People and Planet Fund III.
- The new fund is a 40% increase from the previous fund, which closed at $108 million in May 2020.
- The fund will deploy capital across Africa, targeting opportunities continent-wide.
The establishment of Novastar's third fund signifies a promising shift towards sustainable investment in Africa, particularly in addressing climate challenges. The collaboration with Japanese institutions could pave the way for innovative funding structures that enhance the growth of transformative businesses across the continent. This approach not only benefits investors but also contributes to the broader goal of sustainable development in Africa.
