Novastar Ventures, an African venture capital fund has reached financial close for commitments of US$108-million which increases its total fund size to over US$260-million. The firm deploys venture capital funding in Africa from its advisory offices in Nairobi, Kenya and Lagos, Nigeria. The new fund is expected to be deployed in various sectors of East Africa as well as other parts of the Africa continent.

Novastar Ventures is venture capital investor designed to provide flexible support, tailored to the company’s stage of development with its commited funds of over US$260-million. The firm is able to invest up to $250,000 in an unproven business model with high potential. Novastar Ventures has invested in Solar Now, Moko Furniture, mPharma, Penda Health, iProcure and Soko amongst many more. The new fund commitment makes it one of the largest venture