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DFC invests $25M in Novastar’s Africa People + Planet Fund

DFC invests $25M in Novastar’s Africa People + Planet Fund

#agriculture
#venture capital
#climate and sustainability
#investments
#climate-tech
The U.S International Development Finance Corporation (DFC) has made equity investment to the tune of $25 million in a new fund by Pan-African venture capital firm Novastar Ventures, to back founders building agriculture and climate solutions.

The US International Development Finance Corporation (DFC) has invested $25m in Novastar Ventures' new Africa People + Planet Fund. The Nairobi and Lagos-based VC firm is looking to raise over $200m for the fund, which will invest in startups focused on agriculture and climate solutions. Novastar's previous funds have invested in various tech-enabled startups operating in sectors including agriculture, education and renewable energy. The Africa People + Planet Fund will invest in marketplaces, financial and supply chain services, clean utilities, electric mobility, and alternative materials, among others.


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