In 2018, CDC made a $15 million commitment to the first close of Novastar Ventures Africa Fund II.
Novastar will catalyse growth in businesses that provide basic goods and services at scale and economic opportunities for low income, mass markets. If successful, the fund can help prove the venture impact investing model in Africa.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.
- Financial services, Health, Manufacturing, Other consumer services
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Novastar Ventures Limited
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- October 2018
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
Investments made by this fund
|Investment name||Country||Region||Sector||Start date||Status|
mPharma Data Inc
mPharma is a company using technology and data to make medicine supply chains more efficient, and to make quality healthcare affordable and accessible to everyone in Africa. It currently operates in Ghana, Nigeria, Kenya, Rwanda, Zambia and Ethiopia, serving about a million patients every year through over 400 pharmacies.
Sure Chill is a platform cooling technology. It uses water to enable continuous cooling from inconsistent power.
|Kenya||Africa, East Africa||Manufacturing||May 2019||Active|
Metro Africa Xpress (MAX.NG)
MAX is an online delivery platform working to fix Africa's last-mile delivery and online-retail problems.
|Nigeria||Africa, West Africa||Other consumer services||June 2019||Active|
Turaco Inc is a technology company working in the insurance industry in Kenya and Uganda
|Africa, East Africa||Financial services||November 2020||Active|