Novastar Ventures has secured approval for an investment of up to USD $40 million from the Green Climate Fund (GCF) into its Africa People and Planet Fund III (NVIII) — a major boost for climate-aligned venture investing across the continent.
The commitment reflects accelerating global confidence in Africa’s ability to build scalable, climate-positive businesses, and reinforces the role of entrepreneurship in addressing the continent’s dual imperatives: economic growth and climate resilience.
Fueling climate-smart growth across Africa
NVIII backs high-growth companies aligning economic opportunity with planet-positive technologies and innovations, focusing on sectors including:
- Renewable and clean energy
- Climate-resilient agriculture and food systems
- Circular economy and waste transformation
- Electric mobility and low-carbon transport
- Sustainable infrastructure and resource efficiency
By prioritising scalable, tech-enabled solutions, the fund aims to support climate-vulnerable communities while unlocking sustainable growth and job creation across Africa.
Catalysing high-impact entrepreneurship
The GCF investment acts as catalytic capital to help accelerate climate innovation and de-risk early-stage ventures. NVIII is structured to deliver meaningful outcomes such as:
- Reduced greenhouse gas emissions
- Increased climate resilience for low-income communities
- Sustainable employment across priority industries
- Regenerative approaches to land, waste, and energy
- Commercial pathways for sustainable development at scale
This commitment builds on Novastar’s deep track record of backing mission-driven African entrepreneurs solving foundational challenges in energy, agriculture, mobility, waste, and health.
Strengthening Africa’s climate-tech ecosystem
Despite being at the frontlines of climate impacts, Africa currently attracts a disproportionately small share of global climate finance and venture capital. This investment from GCF signals growing trust in African founders and the venture ecosystem capable of scaling high-impact solutions.
It also underscores the importance of early-stage innovation as a driver of climate resilience, economic inclusion, and long-term sustainable value creation.
A shared mission for people and planet
Novastar thanked GCF and all partners for their efforts in advancing this milestone.
“This investment marks another step toward an entrepreneurial revolution on the continent — one that delivers lasting value for people and planet.”
With the GCF commitment secured, Novastar is positioned to scale pioneering climate-tech ventures further and expand the pipeline of transformative businesses building Africa’s green future.
The announcement reinforces the momentum of Africa’s impact-driven innovation ecosystem — and highlights the global opportunity to back the entrepreneurs shaping a climate-resilient and inclusive tomorrow.
