DFC Invests $25 Million in Novastar’s Africa People + Planet Fund
By Annie Njanja
The U.S International Development Finance Corporation (DFC) has made equity investment to the tune of $25 million in a new fund by Pan-African venture capital firm Novastar Ventures, to back founders building agriculture and climate solutions.
The DFC revealed details of the transaction, and Novastar’s new investment vehicle, the Africa People + Planet Fund, during its latest update detailing the transactions it had approved over the last few months.
Photo courtesy of Mozambique – Massaca Reservoir Water Collection Agric – John Hogg.