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Opalesque Industry Update - Capria Ventures, a leading Global South specialist venture capital firm, marks the first close of its target USD 100 million fund. The new fund will focus on investing in 20-25 tech startups in the entrepreneurial hotspots of India, Southeast Asia, Latin America, the Middle East, and Africa. This first close reflects the confidence of previous institutional investors, including OIP Investment Trust and Gates Ventures as well as numerous foundations, individuals, and family offices, including Crystal Springs Foundation, Sall Family Foundation, Brakeman Family Trust and two founders of Pioneer Square Labs. Aligning with current trends, the fund will seek founders harnessing the potential of Generative AI to transform companies across multiple sectors and as well as adding a new focus on Climate startups. Capria has already closed investments for its new fund in promising startups in Mexico, Brazil, Nigeria, and Egypt, including Kueski (fintech), Agrofy (agritech), MAX (mobility), and Paymob (fintech).
Speaking about his decision to invest with Capria a second time, Larry Cohen, CEO, Gates Ventures said, "Capria's Fund II, with its added focus on Generative AI and Climate technologies, looks to invest in startups at the forefront of innovation, primed to disrupt traditional sectors, forge new industries and propel economic growth in the Global South. We are excited to support the next generation of entrepreneurs focused on the most innovative solutions" Fr. Rufus Whitley, OMI, President, added, "As a long-term advocate for the transformative power of venture capital investing, I am excited about investment opportunities in financial services, jobtech, and access to quality education. Capria Ventures hits the right chord by identifying and supporting innovative startups working towards these goals. The company's strategy of partnering with local managers in the Global South, providing organized mentoring, collaboration, and training, has led to the emergence of strong and sustainable companies." Will Poole, Co-founder and Managing Partner Capria Ventures, said "In 2023 alone, Global South economies (ex. China) are expected to outpace their advanced economy counterparts - by around USD 100 billion -, creating nearly limitless opportunities for entrepreneurs building startups serving those markets. With Capria's Fund II, we will continue investing in the most promising early-growth tech startups, bringing founders into our collaborative global network." "Capria Ventures has been an invaluable partner to our company, providing not only the financial support we need to grow but also the strategic guidance and industry expertise that has helped us achieve new heights of success. Their deep local and regional expertise has not only helped us achieve our mission in India but also take it to the globe. We are proud to be part of the Capria portfolio and to collaborate with similar founders across the Global South", added Pravin Agarwala, Co-founder and CEO of Betterplace. |
Industry Updates
Capria Ventures hits first close on second Global South fund
Wednesday, April 26, 2023
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