Novastar Ventures Invests in Linking Smallholder Farmers to Global Organic Food Markets
Novastar Ventures is pleased to announce its recent investment into the Perennial Foods Group, trading globally as GreenPath Food.
Headquartered in Ethiopia, GreenPath Food is a speciality food company that produces and sources premium, organic food products through a network of smallholder farming families.
With products currently available in Europe and the Middle East, GreenPath Food is a fastgrowing international supplier for buyers seeking traceable, environmentally-conscious food. Using permaculture-inspired practices, GreenPath Food’s mission is to create sustainable supply chains for its customers and sustainable farms and livelihoods for thousands of farmers.
Novastar is the lead investor in GreenPath Food’s $1 million Series A raise. Novastar is joined by Oxfam Great Britain’s impact investment arm, the Enterprise Development Programme (EDP). This investment follows a 2016-17 seed round led by EWB Ventures, the impact investing arm of Engineers Without Borders Canada, and joined by two angel investors.
“We couldn’t be more excited to welcome Novastar, their team, and the invaluable expertise they bring to the GreenPath family,” said GreenPath Food’s Managing Director, Jacie Jones.
“This investment will unlock critical growth for GreenPath and our farmers, as we set out to expand our work in Ethiopia and beyond.”
“In the two years we have been following GreenPath, they have been rigorous and thoughtful in developing an innovative platform for upskilling smallholder farmers within a complex economy, supplying premium produce to discerning international buyers. We are delighted to be partnering with the team as they build out their organic permaculture model and replicate it into different locations in and beyond Ethiopia,” said Andrew Carruthers, Managing Director of Novastar Ventures.
For more information about GreenPath Food and its work in Ethiopia, please contact [email protected].
About Novastar Ventures
Novastar manages $90 million of venture funds dedicated to finding and growing the “new stars” of East Africa, backing early and growth stage businesses led by entrepreneurs with the character, capability and ambition to transform markets and sectors. Novastar has backed 14 businesses to date, each reflecting the Fund’s focus on mass-market scale potential, business model innovation, and outstanding entrepreneurial leadership.