Key Developments
DFC backs Novastar Ventures with $25 million to support African startups.
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.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
You may also like...
Afreximbank Signs $500 Million Credit Facility With ATDC to Expand African Trade
African Export-Import Bank (Afreximbank) and the Africa Trading and Distribution Company (ATDC) have signed a $500 million global credit facility to finance the purchase, movement and distribution of African goods across regional and international markets.
Kenyan Digital Commerce Startup Tappi Expands to Côte d’Ivoire
Tappi, a Kenyan digital commerce platform designed for micro, small, and medium-sized businesses (MSMEs), has announced its expansion into Côte d’Ivoire.
Zoodlabs and CrossBoundary Energy Launch Sierra Leone’s First 5G Network Powered by Renewable Energy
Sierra Leone is taking a significant step toward digital and environmental progress by introducing its first 5G network powered by renewable energy.