This investment was made when British International Investment was named CDC Group.
Our investment
Description of the investment.
Description of the investment.
In 2018, CDC made a $15 million commitment to the first close of Novastar Ventures Africa Fund II.
Expected impact
Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.
Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.
Novastar will catalyse growth in businesses that provide basic goods and services at scale and economic opportunities for low income, mass markets. If successful, the fund can help prove the venture impact investing model in Africa.
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at enquiries@bii.co.uk
-
Key facts
- Last updated
:
When the last quarterly update of the website database occurred.
- June 2024
- Project number
:
An identifier number shared by investments in the same project.
- D3271
- Status
:
The current status of the investment (green flag for active and red flag for exited).
- Active
- Region
:
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- Africa
- Sector
:
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Communications & IT services, Consumer - Health, Consumer - other services, Financial services, Food & Agriculture, Infrastructure, Manufacturing
- Investment type :
- Fund
- Start date :
- October 2018
- Amount :
- $15m
- Currency of investment :
- USD
- Fund Manager:
- Novastar Ventures Limited
- Domicile
:
The company or investment fund’s place of incorporation.
- Mauritius
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- Last updated
Investments made by this fund into companies:
For further information about these companies, visit https://www.novastarventures.com/
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| BasiGo Inc. | Kenya | East Africa | Infrastructure | February 2022 | Active |
| Elephant Healthcare Limited | Kenya | East Africa | Consumer - Health | January 2021 | Active |
| Fortem Holdings Limited (iProcure) | Kenya | East Africa | Food & Agriculture | December 2021 | Active |
| Ignitia AB | West Africa | Africa | Communications & IT services | April 2021 | Active |
| KOKO Networks Limited | Kenya | East Africa | Food & Agriculture | October 2023 | Active |
| Metro Africa Xpress (MAX.NG) | Nigeria | West Africa | Consumer - other services | June 2019 | Active |
| Moniepoint Inc. | Nigeria | West Africa | Financial services | March 2021 | Active |
| mPharma Data Inc | Ghana, Kenya, Nigeria | East Africa, West Africa | Consumer - Health | May 2019 | Active |
| Poa International Ltd | Kenya | East Africa | Communications & IT services | December 2021 | Active |
| Sure Chill | Kenya | East Africa | Manufacturing | May 2019 | Active |
| TradeDepot Inc | Nigeria | West Africa | Consumer - other services | October 2021 | Active |
| Turaco Inc. | East Africa | Africa | Financial services | November 2020 | Active |
