Climate : Novastar Ventures secures $40 million from Green Climate Fund

The Green Climate Fund (GCF) has committed $40 million to Novastar Ventures’ Africa People & Planet Fund III, targeting $200 million in total. Headquartered in Nairobi and Lagos, Novastar invests in African startups driving climate solutions in Kenya, Nigeria, Rwanda, South Africa and Egypt. The GCF’s anchor funding aims to de-risk the fund and attract private capital, joined by BII, JICA, SMBC, and MOL to boost Africa’s green innovation ecosystem.