2025.09.09
On August 28, the Japan International Cooperation Agency (JICA) signed an agreement with Novastar Ventures Limited (NV), a leading venture capital fund manager in Africa, with regards to JICA’s admission as a limited partner of their Fund III.
NV Co-founder and Managing Partner Mr. Andrew Carruthers (left) and JICA Senior Vice President Hataeda Mikio (right)
JICA is co-investing with British International Investment (BII) and other development finance institutions as well as financial and strategic investors in the private sector, including Japanese corporates.
1. Investee
Novastar Ventures Africa People + Planet Fund III, LP (NV III)
2. Country (Target Areas)
Africa
3. Committed Amount
10 million USD
4. Project Title
Africa People and Planet Start-up Investing Project
5. Project Purpose
The Project will finance startups engaged in impactful businesses via investing in NV, a leader of the venture capital market and startup ecosystem in Africa. It aims to empower people through economic and social inclusion, promote sustainable/climate-positive economic activities, and thereby contribute to economic development and addressing social challenges in Africa.
6. Project Component
Proceeds will be used as capital to invest in African startups by NV III.
7. Contribution to SDGs
Goal 5 (Gender equality)
Goal 8 (Decent work and economic growth)
Goal 9 (Industry, innovation and infrastructure)
Goal 10 (Reduced inequalities)
Goal 13 (Climate action)
Goal 17 (Partnerships for the goals)
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