This latest injection of capital will support the fund’s mission to back African start-ups whose business models integrate the continent’s demographic growth with technologies that tread lightly on the planet.

Through this fund, Novastar aims to channel investment into businesses that advance a clean, inclusive, and resilient path of development across Africa.

For Novastar, the endorsement from the GCF represents a major landmark on the firm’s journey toward what it describes as an “entrepreneurial revolution” in Africa — one that generates enduring value both for communities and the environment.

Commenting on the milestone, Novastar extended its gratitude to all who helped bring the deal together, notably the GCF team and contributors, including Lorenzo Sfragara, Myung Namkoong, Kavita S., and Julien Taris.The fund manager also thanked GCF for its trust and collaborative spirit as they embark on this partnership.

This investment aligns with broader momentum in climate-tech financing across Africa.

Novastar’s Fund III is part of a growing pool of capital being directed toward enterprises in sectors such as renewable energy, e-mobility, circular economy, and regenerative agriculture.

By joining GCF in backing this venture, Novastar strengthens its capability to support entrepreneurs who not only address Africa’s development challenges but also contribute to the global climate agenda.