The Japan International Cooperation Agency (JICA) has committed USD 10 million to the Novastar Ventures Africa People and Planet Fund III, a fund managed by Novastar Ventures.
JICA joins British International Investment and other development finance institutions, alongside private sector investors, including Japanese corporates, in supporting the initiative.
The fund will back startups across Africa engaged in businesses with social and environmental impact. Through Novastar, one of the region’s leading venture capital firms, the investment seeks to advance economic and social inclusion, encourage climate-positive and sustainable activities, and contribute to broader economic development while addressing key social challenges.