Novastar Ventures
Novastar Ventures, established in 2014, is a global venture capital firm headquartered in Nairobi, Kenya, with additional offices in Lagos, Nigeria, and London, UK. The company specializes in seed, early to late-stage, and growth capital investments, focusing on businesses that serve the base-of-the-pyramid (BoP) markets. Novastar invests in sectors such as education, healthcare, agribusiness, food, and water, with a geographical focus on East and West Africa, Asia, Europe, and the United States. The firm typically invests between $0.25 million and $8 million in companies, seeking to partner with entrepreneurs who are developing innovative solutions with the potential to transform markets and create lasting impact.
Past deals in West Africa
TeamApt
Series B in 2022
TeamApt is a financial technology company that develops digital banking and payment platform for financial transactions. It offers an end-to-end omnichannel digital banking service called Moneytor Digital Banking, enabling banks to offer retail, merchant, and corporate banking services through digital channels, Aptpay for automation of digital banking business operations, settlements, reconciliations, and tracks digital transformation processes with web and mobile interfaces. TeamApt was founded in 2015 and is headquartered in Lekki, Lagos, Nigeria.
TradeDepot
Series B in 2021
TradeDepot Inc. is a technology-driven distribution platform based in Lagos, Nigeria, founded in 2016. The company aims to revolutionize the fast-moving consumer goods (FMCG) sector in Africa by connecting top consumer goods companies directly with retailers. TradeDepot's SaaS platform offers features such as predictive trade intelligence, real-time stock level access, and the ability to place bulk orders online. It also enables the auto-generation of sales promotions, helping to enhance sales and streamline operations. By focusing on improving the distribution of food, beverages, and personal care products, TradeDepot seeks to build the largest retail distribution network in Africa and improve the livelihoods of retail store owners. The company also has an office in Wilmington, Delaware, reflecting its commitment to expanding its reach and impact.
TeamApt
Series B in 2021
TeamApt is a financial technology company that develops digital banking and payment platform for financial transactions. It offers an end-to-end omnichannel digital banking service called Moneytor Digital Banking, enabling banks to offer retail, merchant, and corporate banking services through digital channels, Aptpay for automation of digital banking business operations, settlements, reconciliations, and tracks digital transformation processes with web and mobile interfaces. TeamApt was founded in 2015 and is headquartered in Lekki, Lagos, Nigeria.
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