Novastar Ventures is a venture capital firm founded in 2014, investing in early-stage, technology-led businesses across Africa. The firm partners with bold entrepreneurs building scalable solutions for people and planet, with offices in London, Nairobi, and Lagos.
Deal activity decreased year-over-year (1 deal in the last 12 months vs 2 prior). Average disclosed round size is $32.0M (across 32 rounds with reported amounts).
Portfolio
24
Fund Size
$147M
Top Stage
Series A
Last 12 Mo
1
Team
Andrew Carruthers
Co-founder & Managing Partner
Brian Waswani Odhiambo
Partner
Sapna Shah
Partner
Dot Beck
Director, Social & Environmental Value
BB
Bertie Biggles
VP, Guest Relations
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
39 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 ARC Ride | Series A | $5M | Feb 2026 |
| BBreadfast Equity | Series C | $50M | Jan 2026 |
 Chowdeck | Series A | $9M | Aug 2025 |
| Chowdeck | Seed | $2.5M | Jan 2025 |
| Chowdeck | Series A | $9M | Jan 2025 |
 Moniepoint | Series C | $200M | Oct 2024 |
 Sistema.bio | Series B | $53M | Jan 2024 |
 PayGo Energy | Series B | $10M | Jan 2023 |
 BasiGo | Series A | $6.6M | Nov 2022 |
| MMoko | Series B | $6.5M | Oct 2022 |
| TTeamapt | Series B | — | Aug 2022 |
| TTeamapt | Series C | — | Aug 2022 |
| BasiGo | Seed | $4.3M | Feb 2022 |
| PPoa Internet | Series C | $28M | Jan 2022 |
 mPharma | Series D | $35M | Jan 2022 |
| TTeamapt | Series C | $50M | Jan 2022 |
 iProcure | Series B | $10.2M | Jan 2022 |
 Turaco | Series A | $10M | Jan 2022 |
| mPharma | Series A | $6.6M | Jan 2022 |
 MAX | Series B | $31M | Dec 2021 |
 TradeDepot Inc | Series B | $110M | Dec 2021 |
| TradeDepot Inc | Series B | $110M | Jan 2021 |
| KKomaza | Series A | — | Jan 2020 |
| SSure Chill | Unknown | — | Jul 2019 |
| MMAX.ng | Series A | $7M | Jun 2019 |
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Top Co-Investors
British International Investment19 shared
Y Combinator5 shared
Proparco5 shared
AAIC Investment4 shared
Lightrock4 shared
Globo Ventures4 shared
FMO4 shared
Talanton4 shared
GFR Fund3 shared
Rebel Fund3 shared
Endeavor3 shared
QED Investors3 shared
AlphaMundi Group Ltd3 shared
4DX Ventures3 shared
Goodwater Capital2 shared
True Culture Fund2 shared
TO Ventures2 shared
Northstar Group2 shared
Social Capital2 shared
Last updated: 7 October 2026