Novastar Ventures fund attracts Spanish LP
The Spanish Agency for Development Cooperation has approved an investment in the Novastar Ventures Africa People and Planet Fund III.
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The Spanish Agency for Development Cooperation (AECID) has approved an investment of up to $10 million in the Novastar Ventures Africa People and Planet Fund III (NVIII).
Managed by Novastar Ventures, the fund has a focus on sectors like renewable energy, e-mobility, smart logistics, the circular economy, and regenerative agriculture.
“AECID joins a growing coalition of global investors in NVIII, united by a shared belief in the power of Africa’s entrepreneurs to build a clean and inclusive development path for the continent, and for the world,” Novastar Ventures said in a statement.
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Climate focused capital is finaly flowing to where the impact can be most substansial. African entrepreneurs in renewable energy and circular economy sectors often operate in challeging environments but generate real returns when properly backed. Good to see AECID recognizing this potential.