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Novastar Ventures

Founders Andrew Carruthers Steve Beck

Overview

Investments

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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.

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Total investments 52
Average round size
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The average size of a deal this fund participated in
$9M
Portfolio companies 24
Rounds per year 5.20
Lead investments 10
Follow on index
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How often the fund supports its portfolio startups at next rounds
0.54
Key employees 6

Areas of investment

  • Logistics
  • Supply Chain Management
  • Agriculture
  • Health Care
  • Clean Energy
Summary

The fund was located in Africa if to be more exact in Kenya. The main department of described VC is located in the Nairobi.

The usual cause for the fund is to invest in rounds with 1-2 partakers. Despite the Novastar Ventures, startups are often financed by SunFunder, Peery Foundation, Bill & Melinda Gates Foundation. The meaningful sponsors for the fund in investment in the same round are Unreasonable Capital, Global Partnerships, Yamaha Motor Co.,. In the next rounds fund is usually obtained by Unreasonable Capital, United States Agency for International Development, SunFunder.

Among the most popular portfolio startups of the fund, we may highlight Sanergy, Sure Chill, PayGo Energy. For fund there is a match between the country of its foundation and the country of its the most frequent investments - Kenya. Among the most successful fund investment fields, there are Logistics, Social Entrepreneurship. The fund has specific favorite in a number of founders of portfolio startups. When startup sums 2 or 5+ of the founder, the probability for it to get the investment is little. Moreover, a startup needs to be at the age of 6-10 years to get the investment from the fund.

The fund is constantly included in 2-6 investment rounds annually. The usual things for fund are deals in the range of 1 - 5 millions dollars. Speaking about the real fund results, this VC is 36 percentage points more often commits exit comparing to other organizations. The high activity for fund was in 2017.

This organization was formed by Steve Beck. Besides them, we counted 6 critical employees of this fund in our database.

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These funds often invest in the rounds preceeding the rounds of Novastar Ventures:
Typical Co-investors
Novastar Ventures is more likely to invest in rounds together with the following funds:
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These funds have a tendency to invest in the following rounds after Novastar Ventures:
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Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

BasiGo

Public Transportation
Transportation
$6M15 Nov 2022 Nairobi, Nairobi Area, Kenya

MoKo Home + Living

Furniture
Manufacturing
Retail
$3M13 Oct 2022 Nairobi, Nairobi Area, Kenya

Turaco

Financial Services
FinTech
Insurance
Internet
$10M31 Aug 2022 Kenya, Kenya

iProcure

Agriculture
Analytics
Information Technology
Logistics
Packaging Services
Software
Supply Chain Management
$9M18 Aug 2022 Nairobi, Nairobi, Kenya

TeamApt

Banking
Financial Services
FinTech
Payments
$50M10 Aug 2022 Nigeria, Lagos, Nigeria

BasiGo

Public Transportation
Transportation
$4M09 Feb 2022 Nairobi, Nairobi Area, Kenya

Poa Internet

Information Services
Internet
ISP
$28M18 Jan 2022 Nairobi, Nairobi, Kenya

Metro Africa Express

Delivery
Logistics
Supply Chain Management
Transportation
$31M19 Dec 2021 Lagos, Lagos, Nigeria

Metro Africa Express

Delivery
Logistics
Supply Chain Management
Transportation
$31M17 Dec 2021 Lagos, Lagos, Nigeria

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Total investments 52
Average round size 9M
Rounds per year 5.20
Peak activity year 2022
Lead investments 10
Follow on index 0.54
Group Appearance index 0.81

Latest deals

CompanyIndustryRound SizeDateInvestorsLocation

BasiGo

Public Transportation
Transportation
$6M15 Nov 2022 Nairobi, Nairobi Area, Kenya

MoKo Home + Living

Furniture
Manufacturing
Retail
$3M13 Oct 2022 Nairobi, Nairobi Area, Kenya

Turaco

Financial Services
FinTech
Insurance
Internet
$10M31 Aug 2022 Kenya, Kenya

iProcure

Agriculture
Analytics
Information Technology
Logistics
Packaging Services
Software
Supply Chain Management
$9M18 Aug 2022 Nairobi, Nairobi, Kenya

TeamApt

Banking
Financial Services
FinTech
Payments
$50M10 Aug 2022 Nigeria, Lagos, Nigeria

BasiGo

Public Transportation
Transportation
$4M09 Feb 2022 Nairobi, Nairobi Area, Kenya

Poa Internet

Information Services
Internet
ISP
$28M18 Jan 2022 Nairobi, Nairobi, Kenya

Metro Africa Express

Delivery
Logistics
Supply Chain Management
Transportation
$31M19 Dec 2021 Lagos, Lagos, Nigeria

Metro Africa Express

Delivery
Logistics
Supply Chain Management
Transportation
$31M17 Dec 2021 Lagos, Lagos, Nigeria
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