The Japan International Cooperation Agency (JICA) has committed USD 10 M to the Novastar Ventures Africa People and Planet Fund III, managed by Novastar Ventures.

JICA is co-investing with British International Investment and other development finance institutions as well as financial and strategic investors in the private sector, including Japanese corporates.

The project will finance startups engaged in impactful businesses via investing in Novastar, a leader of the venture capital market and startup ecosystem in Africa. It aims to empower people through economic and social inclusion, promote sustainable and climate-positive economic activities, and thereby contribute to economic development and addressing social challenges in Africa.

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Renewable energy platform Odyssey Energy Solutions has secured a USD 7.5 M funding facility from British International Investment (BII), the UK’s development finance institution. The investment will accelerate the deployment of solar mini-grids across Nigeria, tackling a critical energy access challenge where 90 million people lack reliable electricity.

The funding supports Nigeria’s DARES program—a government initiative backed by the World Bank—aiming to provide power to 17.5 million Nigerians via 1,500 solar mini-grids and 1.5 million solar home systems. Odyssey’s digital platform streamlines project management, equipment financing, and real-time monitoring for developers and the Rural Electrification Agency (REA).

“BII’s support helps us offer flexible financing to scale clean energy access,” said Piyush Mathur, Odyssey Co-Founder.

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