Stockholm (NordSIP) – Swedfund, Sweden’s development financier, announced a US$10 million investment in the Novastar III Africa People+Planet Fund (NV III), which aims to increase access to financing for African companies that tackle climate change and development needs through clean and climate-positive technology. Swedfund’s investment is made alongside other development financiers including Norfund and British International Investment (BII). The investment was signed in September 2024.
The investment is part of a recent spree of such investments by Swedfund in African-focused funds, including its US$15 million investment in the TLG Africa Growth Impact Fund II and its US$20 million investment in BluePeak Private Capital Fund II (BPCF II).
Africa faces growing climate risks, but at the same time plays an increasingly important role in the development of innovative environmental technologies. Through this indirect investment, Swedfund seeks to channel capital to young local companies that develop solutions in renewable energy, e-mobility, smart logistics, circular economy and regenerative agriculture.
“As climate challenges increase, it is crucial to support those companies that build resilient, low-emission economies. Our investment aims to support innovative companies that improve people’s living conditions while reducing emissions,” says Sofia Gedeon, Investment Director, Sustainable Enter at Swedfund.
By investing in a fund like NV III, with a broad reach and local presence in countries such as Kenya and Nigeria, Swedfund brings capital to more companies with great development potential. This contributes to market development, job creation and increased access to essential services in vulnerable communities. Sistema.bio is one of the companies in Novastar’s portfolio a which produces a biodigester (used by the pictured farmer) that supports sustainable farming.
Stockholm (NordSIP) – Swedfund, Sweden’s development financier, announced a US$10 million investment in the Novastar III Africa People+Planet Fund (NV III), which aims to increase access to financing for African companies that tackle climate change and development needs through clean and climate-positive technology. Swedfund’s investment is made alongside other development financiers including Norfund and British International Investment (BII). The investment was signed in September 2024.
The investment is part of a recent spree of such investments by Swedfund in African-focused funds, including its US$15 million investment in the TLG Africa Growth Impact Fund II and its US$20 million investment in BluePeak Private Capital Fund II (BPCF II).
Africa faces growing climate risks, but at the same time plays an increasingly important role in the development of innovative environmental technologies. Through this indirect investment, Swedfund seeks to channel capital to young local companies that develop solutions in renewable energy, e-mobility, smart logistics, circular economy and regenerative agriculture.
“As climate challenges increase, it is crucial to support those companies that build resilient, low-emission economies. Our investment aims to support innovative companies that improve people’s living conditions while reducing emissions,” says Sofia Gedeon, Investment Director, Sustainable Enter at Swedfund.
By investing in a fund like NV III, with a broad reach and local presence in countries such as Kenya and Nigeria, Swedfund brings capital to more companies with great development potential. This contributes to market development, job creation and increased access to essential services in vulnerable communities. Sistema.bio is one of the companies in Novastar’s portfolio a which produces a biodigester (used by the pictured farmer) that supports sustainable farming.
