Japanese LP backs Novastar Ventures fund
SMBC has announced an investment in the Novastar Ventures Africa People and Planet Fund III.
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Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has announced an investment in the Novastar Ventures Africa People and Planet Fund III, managed by Novastar Ventures.
"Through LP investment … we will support the growth of startups, which are the driving force behind economic growth and solving social issues in the African market. In the medium term, we will also contribute to the development of new businesses and products that contribute to the creation of social value while supporting Africa's economic growth through collaboration with startups,” SMBC said in a statement.
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