How to apply to Novastar Ventures as an African founder

TL;DR

Novastar Ventures invests in sector-agnostic companies at Seed, Series A, and Series B+, writes cheques of $1M -- $8M, and takes applications through a direct online application.

Who Novastar Ventures is

Novastar Ventures is a Pan-African investor headquartered in London, with offices in Nairobi and Lagos. The fund describes its mandate as sector-agnostic. The thesis, in the fund's own words: Partnering with the bold, for people and planet, for good. We see in Africa an unmatched opportunity to reimagine industries in ways that signal a new, sustainable, inclusive development path for the world.

On the ground, Novastar Ventures operates as a Seed, Series A, and Series B+ investor with an Africa focus described as "Pan-African (Fund III expands to include North Africa/Egypt)". The fund's co-founder & managing partner is Steve Beck, alongside Andrew Carruthers (Co-Founder & Managing Partner) and Brian Waswani Odhiambo (Partner (Head of West Africa)).

What they invest in

Stages: Seed, Series A, and Series B+
Sectors: Sector-agnostic. The fund calls itself sector-agnostic, but its actual portfolio tells a more concentrated story: 29% of classified portfolio companies are in Climate, and 13% are in E-commerce.
Cheque size: $1M -- $8M
Geography focus: Pan-African / Yes -- Pan-African (Fund III expands to include North Africa/Egypt)

How to apply

Apply directly at https://www.novastarventures.com/contact/. That link is the fund's own application channel, listed in their Trampoline entry as of 2026-07-24. Fill out whatever the form asks for completely: skipped fields read as a rushed application, and a rushed application is an easy first-pass reject at any fund fielding more submissions than it can meaningfully review.

Portfolio pattern

Novastar Ventures's portfolio, as listed in their Trampoline fund page, includes:

Moniepoint (Nigeria): All-in-one business banking (payments, POS, accounts, credit), Series B ($30M, led); pre-Series C (~$50M, co-led)
Chowdeck (Nigeria): Food delivery platform with electrified fleet, Series A ($9M, led)
BasiGo (Kenya/Rwanda): Electric buses for public transit on pay-per-km model, Series A (participated, $41.5M total)
Breadfast (Egypt): Quick-commerce and grocery delivery, Pre-Series C ($50M, led)
Komaza (Kenya): Tech-enabled sustainable forestry with smallholder farmers, Series B ($28M, co-led); extension ($10M)

That spread gives you a sense of what a real check from Novastar Ventures has funded, not just what the thesis claims it funds.

Before you apply

Have these ready before you reach out:

Deck: Check your readiness first so you know where the gaps are
Metrics dashboard: Set up your metrics dashboard so you can show real traction, not slides
Cap table
A one-line description of what your company does

FAQ

Does Novastar Ventures have a sector focus?

Novastar Ventures describes its mandate as sector-agnostic, meaning it does not restrict itself to a fixed list of sectors.

What stage does Novastar Ventures typically write cheques at?

Novastar Ventures invests at Seed, Series A, and Series B+, with cheque sizes of $1M -- $8M.

Do you need a warm intro to apply to Novastar Ventures?

No. Novastar Ventures takes applications through a form on their website, so a warm intro is not required to apply, though it can still help your submission stand out.

Does Novastar Ventures invest outside Pan-African?

Novastar Ventures's Africa focus is described as "Pan-African (Fund III expands to include North Africa/Egypt)". Check the full fund profile for the exact geographic boundaries before you apply.

Is Novastar Ventures a remote or in-person fund?

Novastar Ventures's format is listed as Hybrid.