Key Developments

DFC backs Novastar Ventures with $25 million to support African startups.

April 20, 2023

| Article

The U.S International Development Finance Corporation (DFC) has invested $25 million in Novastar Ventures to support and invest in early stage startups in Africa

This investment will enable the Pan-African venture capital firm to continue its mission of backing innovative and impactful startups that are driving positive change in Africa. With a focus on sectors such as healthcare, education, and financial inclusion, Novastar has already made significant investments in several African startups.

Novastar will roll out the funding under its new investment vehicle Africa People + Planet Fund. The Africa People + Planet Fund is Novastar’s third pool after the $108 million Africa Fund II, which saw it widen its geographical reach to include West Africa.

Google Selects 15 African AI Startups for Latest Accelerator Program

Can Rwanda Break Out From Its Dependence on Agriculture? A New Innovative Platform Aims to Provide 1.5 Million Farmers With New Livelihoods and Opportunities

Ghanaian Logistics Startup Jetstream Africa Unveils AI-Powered Platform to Boost Cross-Border Trade in Africa

Kenya secures $21 million from AfDB to support women and youth entrepreneurs in Agriculture – Copy

Empower Africa Times Newsletter

You may also like...

Onafriq and M-PESA Partner to Streamline Ethiopia’s Remittances

Digital payments providers Onafriq and M-PESA signed an International Money Transfer Agreement to simplify how Ethiopians abroad can send money back home.

March 24, 2024

Investment platform Africa50 and the International Solar Alliance partner to finance solar energy in Africa

Africa50, an investment platform that finances infrastructure projects in Africa, and the International Solar Alliance (ISA), an intergovernmental organization that promotes solar energy in developing countries, have signed a partnership agreement to finance solar energy projects in Africa.

July 19, 2023