The Green Climate Fund GCF has approved the Novastar Ventures Africa People and Planet Fund III NVIII - a 200 million venture capital fund designed to scale climate-tech innovation and sustainable solutions across Africa. The decision was formalised on 30 October 2025 during the GCF's 43rd Board Meeting B.43.
Africa faces a staggering 2.8 trillion financing gap to achieve its climate commitments between 2020 and 2030, yet private investment in the sector remains among the lowest globally. The NVIII fund seeks to bridge this gap by backing early and growth-stage technology-driven companies that promote clean, inclusive, and sustainable development.
Backed by GCF's equity investment, the fund will channel capital into ventures focused on three transformative areas:
