Novastar Closes $147M Fund III to Back Climate-Focused African Startups
Novastar Ventures has closed its $147 million Fund III to invest in African startups focused on climate, sustainability, and inclusive growth...
✨ Key Highlights
Novastar Ventures has successfully closed its Africa People and Planet Fund III (NVIII) at $147 million, making it one of the largest venture capital funds dedicated to Africa.
- The fund raised $147 million to invest in climate-focused African startups.
- Key organizations involved include Novastar Ventures and investors like Proparco.
- The fund will invest between $1 million and $8 million in startups from seed to growth stages, focusing on businesses with *measurable environmental impact* and economic growth potential.
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Novastar Closes $147M Fund III to Back Climate-Focused African Startups - May 2026
Novastar Ventures has successfully closed its Africa People and Planet Fund III (NVIII) at $147 million, making it one of the largest venture capital funds dedicated to Africa. The fund will back climate-focused startups across the continent. Meanwhile, Spotify and ONErpm held a two-day Fresh Finds workshop in Nairobi aimed at nurturing emerging artists from East Africa, providing them with industry knowledge and distribution opportunities. In a separate development, Jiji reported a 70% surge in searches for used items during the first quarter of 2026, indicating growth in Kenya's pre-loved economy driven by affordability and digital access. These developments collectively highlight increasing investor and platform interest in Africa's digital and climate innovation sectors.
