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Since 2021, Novo Capital has backed 3 African startups across 3 disclosed funding rounds totaling $27.3M, most heavily in Egypt and Fintech.
Novo Capital, also referred to in some sources as MSA Novo, is an investment and special situations firm focused on high growth markets. It is described as a global venture capital investor that systematically benchmarks, sources, transacts, and operates companies in select emerging technology markets. Public information highlights a diversified portfolio spanning Latin America, Africa, MENA and India, with investments in both early and later stage companies. In Africa, Novo Capital has participated in at least three disclosed funding rounds between May and August 2021. These include seed investments in PawaPay and Flextock, and a Series A investment in Homzmart. Across these deals, Novo Capital has deployed approximately 27.3 million dollars, backing technology driven businesses in fintech, e commerce and retail, and logistics and supply chain. The firm’s African activity shows a particular focus on Egypt and pan African opportunities, supporting companies that provide digital payments infrastructure, online furniture retail, and outsourced fulfilment services. Novo Capital often invests alongside a network of global and regional co investors. In the African rounds for PawaPay, Homzmart and Flextock, it has co invested with firms such as MSA Capital, Kepple Africa Ventures, Nuwa Capital, Rise Capital, Impact46, and others. This pattern suggests a collaborative approach, partnering with established venture capital firms to support high growth technology companies across the continent.
Data updated · Jun 30, 2026
Novo Capital has backed 3 African startups across 3 disclosed funding rounds tracked on Liners, totaling $27.3M since 2021.
Mostly Seed: 2 of its 3 tracked rounds are at that stage, followed by Series A (1).
Its tracked rounds lean toward Fintech (1), E-commerce & Retail (1), Logistics & Supply Chain (1).
Novo Capital most often shares rounds with MSA Capital (3 shared deals), Zagadat Capital (1 shared deal), Kepple Africa Ventures (1 shared deal).
Novo Capital’s disclosed African portfolio includes PawaPay, Homzmart, and Flextock. These companies operate in fintech, e commerce and retail, and logistics and supply chain across Egypt and wider African markets.
In the African deals for PawaPay, Homzmart, and Flextock, Novo Capital has invested alongside a range of international and regional venture capital firms. Co investors include MSA Capital and several other partners that are active in emerging technology markets.