Novastar Ventures

Novastar Ventures is a venture capital firm established in 2014 and headquartered in Nairobi, Kenya, with additional offices in Lagos, Nigeria, and London, United Kingdom. The firm specializes in seed, start-up, and growth capital investments, primarily focusing on sectors such as education, healthcare, agri-business, food, and water. Novastar Ventures targets companies that serve the aspiring mass market in East and West Africa, as well as regions in Asia and Europe. The firm typically invests between $0.25 million and $8 million in these ventures, aiming to support innovative entrepreneurs who create impactful business models. By partnering with these entrepreneurs, Novastar Ventures seeks to foster accountability, efficiency, and wealth accumulation for the common good, positioning itself not merely as a fund manager but as a catalyst for transformative change in the markets it serves.

Steve Beck

Co-Founder and Managing Director

Abel Boreto

Associate

Andrew Carruthers

Co-Founder and Managing Partner

Oluwatoyin Emmanuel-Olubake

Managing Director

Simon Harford

Investor

Samuel Kanu

Associate

Dominic Michel

Associate

Mathews Ndubi

Investor

Brian Odhiambo

West Africa Director

Sapna Shah

Partner

Riki Yamauchi

Director, Strategic Investments and Partnerships

Toke Soyebo, C.

Associate

Steven Beck Ph.D

Co-Founder and Managing Partner

Past deals in West Africa

mPharma

Funding Round in 2022
mPharma Data, Inc. is a technology-driven company based in Accra, Ghana, with an additional location in Lexington, Massachusetts. Founded in 2013, it focuses on improving access to high-quality medications in emerging markets by connecting physicians, pharmacies, and patients through its application. The company aggregates real-time market data on prescription trends, drug consumption, and adverse reactions, providing valuable insights to pharmaceutical manufacturers, distributors, and governments. mPharma offers a pharmacy network application that centralizes inventories from multiple pharmacies, enabling easier drug searches for physicians and patients. Additionally, the company provides subscription-based data analytics for actionable insights on drug consumption and diagnosis, along with prescription management tools to assist healthcare providers in locating various medicines. By partnering with drug manufacturers, insurance companies, and governments, mPharma aims to facilitate affordable access to essential medications for patients.

TradeDepot

Series B in 2021
TradeDepot Inc. develops a SaaS platform for FMCG distribution in Africa. It enables predictive trade intelligence to leapfrog the competition, real-time access to distributors' stock levels, receive bulk orders online, and auto-generate sales promotions to boost sales. It helps to connects with distributors, wholesalers and retailers online, on one platform. The company was founded in 2016 and is based in Lagos, Nigeria with additional office in Wilmington, Delaware.

TeamApt

Series B in 2021
TeamApt is a financial technology company focused on, developing Digital Banking, Digital Business solutions, and running Payments Infrastructure by rethinking the needs of consumers, businesses, and the financial industry. Beginning operations in 2015, TeamApt was borne from a desire to create financial happiness, building solutions and tools for businesses and individuals to happily manage money. TeamApt is proudly Nigerian but globally focused, with an eclectic mix of backend, frontend, reliability, quality assurance, distributed data storage engineers to ensure critical solutions and products for our customers are built right, securely, scalably and reliably. Our end goal is to see our customers happy which can only happen when they succeed using our solutions to run their daily lives and businesses.

MAX

Venture Round in 2019
Metro Africa Xpress, also known as MAX.ng, is a Lagos-based company that specializes in on-demand package pickup and delivery services. Incorporated in 2015, MAX.ng offers various delivery options including same day, three-hour, and next day services. The company addresses last-mile delivery challenges by utilizing mobile and web platforms to connect consumers, retail businesses, and independent drivers in real-time. By streamlining logistics and leveraging technology, MAX.ng aims to enhance the capabilities of retail businesses in Africa, facilitating growth and improving service delivery in the region. Additionally, the company provides a mobile application that integrates delivery services with ride-hailing options, further enhancing convenience for its users.

mPharma

Series B in 2019
mPharma Data, Inc. is a technology-driven company based in Accra, Ghana, with an additional location in Lexington, Massachusetts. Founded in 2013, it focuses on improving access to high-quality medications in emerging markets by connecting physicians, pharmacies, and patients through its application. The company aggregates real-time market data on prescription trends, drug consumption, and adverse reactions, providing valuable insights to pharmaceutical manufacturers, distributors, and governments. mPharma offers a pharmacy network application that centralizes inventories from multiple pharmacies, enabling easier drug searches for physicians and patients. Additionally, the company provides subscription-based data analytics for actionable insights on drug consumption and diagnosis, along with prescription management tools to assist healthcare providers in locating various medicines. By partnering with drug manufacturers, insurance companies, and governments, mPharma aims to facilitate affordable access to essential medications for patients.
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