AECID Commits $10M to Novastar’s People & Planet Fund III

Andrew Carruthers, Novastar Ventures Co-founder & Managing Partner

The Spanish Agency for Development Cooperation (AECID) has approved an investment of up to $10 million in the Novastar Ventures Africa People and Planet Fund III (NVIII), reinforcing its commitment to sustainable development and inclusive growth across the continent.

Managed by Novastar Ventures, NVIII targets high-impact sectors that are critical to Africa’s transition toward a green economy. These include renewable energy, electric mobility, smart logistics, the circular economy, and regenerative agriculture—areas that not only address climate challenges but also create scalable opportunities for local entrepreneurs.

Novastar Ventures said in a statement:

AECID joins a growing coalition of global investors in NVIII, united by a shared belief in the power of Africa’s entrepreneurs to build a clean and inclusive development path for the continent, and for the world.

The investment underscores a broader trend of international capital flowing into Africa’s sustainability-focused ventures, aiming to accelerate innovation that delivers both environmental and social impact.

Source: Innovation Village