Investments
30Funds
4About Novastar Ventures
Novastar backs early-stage businesses led by entrepreneurs with the capability and ambition to transform markets at the base of the pyramid (BoP). These enterprises address proven demand for basic goods and services with innovative business models that widen access, improve quality, and lower costs for the mass market. It was founded in 2013 and is based in London, U.K.

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CB Insights Intelligence Analysts have mentioned Novastar Ventures in 1 CB Insights research brief, most recently on Oct 13, 2021.
Latest Novastar Ventures News
Jan 15, 2023
The Moniepoint brand an established and trusted name in Nigeria will allow the company to capitalise on an identity that customers already know and trust. Tosin Eniolorunda , CEO and Co-Founder of TeamApt, disclosed that while it initially set out to build solutions for banks in the country, Moniepoint has increasingly become TeamApt’s core focus prompting this rebrand. “When we started in 2015, we were primarily providing back office payment infrastructure for banks and needed an apt team, hence the name TeamApt. Since then, we have evolved significantly, and our flagship business banking solution, Moniepoint, has become our core focus and where we see the future. Now, as we head into the next step in our journey, we’ve changed our name to reflect the company’s commitment to enabling a world where any business has access to the digital tools and capital needed to grow.” With the rebrand,the company seeks to expand its suite of products to to include banking, credit, payment, and business management tools as well as geographical expansion. The company is backed by global institutional investors, including QED Investors, Novastar, Lightrock, BII, FMO, Global Ventures, Endeavour Catalyst, and New Voices Fund. The company became QED Investors’ first investment into Africa in July 2022.Since launch ,Moniepoint has been growing exponentially as a digital banking solution for small and medium businesses Last year, the startup made several milestones including raising a $50 million funding from QED Investors, Novastar Ventures, Lightrock, and BII. The company is now seeking to raise Series C round in 2023.The startup also launched a credit offering which has already disbursed over $1.4 billion in working capital loans. Currently,TeamApt processes the majority of the POS transactions in Nigeria with an annualized Total Payments Volume (TPV) of more than $170 billion and a customer base of over 600,000 businesses which enabled it to more than double its annual revenues in 2022. The ubiquity of this product saw it win the National Inclusive Payment Initiative Award by the Central Bank of Nigeria. Brian Waswani Odhiambo, Partner of Novastar Ventures said: “Moniepoint is uniquely positioned to accelerate the digitization of banking for underserved businesses. Its leadership team has deep sector knowledge and an enviable track record in the financial services space, which is evident from Moniepoint’s ongoing success. Since partnering, Moniepoint has already displayed amazing growth and we’re excited to see the evolution of the business, as it sets out to deliver best-in-class banking and business solutions.” Ravi Sharma, Partner at Lightrock, commented: “We are very pleased with TeamApt’s move to Moniepoint. Recognized by millions, this brand reflects the company’s focus on innovation and customer-centricity, while also positioning the business for continued growth in Nigeria and across Africa. We look forward to working with Tosin and the talented Moniepoint team as they go from strength to strength.” You Might Be Interested In
Novastar Ventures Investments
30 Investments
Novastar Ventures has made 30 investments. Their latest investment was in BasiGo as part of their Seed VC - IV on November 11, 2022.

Novastar Ventures Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
11/16/2022 | Seed VC - IV | BasiGo | $6.6M | No | 15 | |
10/13/2022 | Series B | Moko | $3.5M | No | AlphaMundi, Blink, Novastar Ventures, and Talanton | 6 |
9/1/2022 | Series A | Turaco | $10M | No | 15 | |
8/18/2022 | Series B | |||||
8/10/2022 | Series B - II |
Date | 11/16/2022 | 10/13/2022 | 9/1/2022 | 8/18/2022 | 8/10/2022 |
---|---|---|---|---|---|
Round | Seed VC - IV | Series B | Series A | Series B | Series B - II |
Company | BasiGo | Moko | Turaco | ||
Amount | $6.6M | $3.5M | $10M | ||
New? | No | No | No | ||
Co-Investors | AlphaMundi, Blink, Novastar Ventures, and Talanton | ||||
Sources | 15 | 6 | 15 |
Novastar Ventures Fund History
4 Fund Histories
Novastar Ventures has 4 funds, including Novastar Ventures Africa Fund II.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
5/12/2020 | Novastar Ventures Africa Fund II | Multi-Stage Venture Capital | Open | $108M | 4 |
9/30/2015 | Novastar Ventures East Africa Fund | ||||
9/30/2015 | Novastar Ventures Fund I Co-Investment | ||||
Impact Investment Fund |
Closing Date | 5/12/2020 | 9/30/2015 | 9/30/2015 | |
---|---|---|---|---|
Fund | Novastar Ventures Africa Fund II | Novastar Ventures East Africa Fund | Novastar Ventures Fund I Co-Investment | Impact Investment Fund |
Fund Type | Multi-Stage Venture Capital | |||
Status | Open | |||
Amount | $108M | |||
Sources | 4 |
Novastar Ventures Team
2 Team Members
Novastar Ventures has 2 team members, including current Founder, Managing Partner, Steve Beck.
Name | Work History | Title | Status |
---|---|---|---|
Steve Beck | ENGIE Solutions, and Monitor Group | Founder, Managing Partner | Current |
Name | Steve Beck | |
---|---|---|
Work History | ENGIE Solutions, and Monitor Group | |
Title | Founder, Managing Partner | |
Status | Current |
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